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financial
The
rontrie
INCLUDING
Bank & Quotation Section
Railway Earnings Section
Railway & Industrial Section
Bankers' Convention Section
SATURDAY, JULY 23 1910.
VOL. 91.
riu Thronicte.
1910.
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CHICAGO OFFICE-Pliny Bartlett,513 Monadnock Block; Tel.Harrison 4012
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WILLIAM D. DANA COMPANY,Publishers,
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Published every Saturday mornitm by WILLIAM B. DANA COMPANY
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G. Dana,Treas. Addresses of al1,0ffice of the Company.
CLEARING-HOUSE RETURNS.
The following table, made up by telegraph, &c., Indicates that the total
bank clearings of all clearing houses of the United States for week ending
July 23 have been $2,793,358,356, against $3,035,125,912 last week and
$3,001.004,893 the corresponding week last year.
Clearings-Returns by Telegraph.
Week ending July 23.
New York
Boston
Philadelphia
Baltimore
Chicago
St. Louis
New Orleans
Total all cities, 5 days
All cities, 1 day
____
1910.
1909.
Per Cl.
$1,251,621,306
129,652,609
115,018,073
23,347,733
228,712,992
62,918,954
15,256,485
$1,593,307,019
120,430,629
102,673,549
21,939,475
216,745,511
54,614,427
13,529,473
-21.4
+7.7
+12.0
+6.4
+5.5
+15.2
+12.7
$1,826,527,652
501,067,923
$2,123,246,078
405,907,618
14.0
+23.4
$2.327,595,575
465,762,781
$2,529,153,796
471,851,097
-8.0
-1.3
22.793.35f4.358
2:1.001.004 RO:l
.-69
NO. 2852.
Week ending July 16.
Clearings at-
PUBLISHED WEEKLY.
Seven cities, 5 days
Other cities, 5 days
Electric Railway Section
State and City Section
1909.
Chicago
Cincinnati
Cleveland
Detroit
Milwaukee
Indianapolis _ _ _ _
Columbus
Toledo
Peoria
Grand Rapids__ _
Dayton
Evansville
Kalamazoo
Springfield, Ill
Fort Wayne_ _
Akron
Rockford
Lexington
Youngstown _ _ _
Canton
South Bend
Springfield, Ohio
Mansfield
Quincy
Bloomington_ _ _ _
Decatur
Jackson
Danville
Jacksonville, IlL
Ann Arbor
Adrian
Saginaw
Lima
Lansing
$
278,334,305 281,774,026 -1.2
27,105,450
31,463,350 -13.9
24,081,323
19,331,998 +24.6
20,681,123
16,220,027 +27.5
13,157,546
13,159,455 -0.01
11,609,064
9,414,660 +24.4
5,993,700
6,173,900 -2.9
4,919,706
4,531,272 +8.6
2,613,411
2,363,634 +10.6
2,691,921
2,577.336 +4.4
2,616,458
2,085,708 +25.5
2,639,042
2,075,441 +27.2
1,392,432
1,275,384 +5.3
859,105
875,890 -1.9
1,023,129
918,125 +11.4
1,200,000
826,000 +21.1
1,000,707
703,017 +42.2
786,546
670,600 +17.2
1,496,369
1,014,623 +97.5
1,092,647
660,000 +65.5
649,520
621,190 +4.6
578,754 -4.5
552,858
367,695 +14.2
419,943
458,973 +14.0
523,293
425,167 +32.3
562,545
425,287 +7.5
457,300
364,980 +8.2
395,000
436,322
370,275 +17.8
228,777 +30.7
298,951
196,526
176,069 +11.6
30,121 +1.8
30,680
659,815
574,898 +14.8
318,248
304,809 +4.4
401,000 Not included in total
Tot. Mid. West
San Francisco.._ Los Angeles
Seattle
Portland
Salt Lake City-.
Spokane
Tacoma
Oakland
Sacramento
San Diego
Helena
Stockton
Fresno
San Jose
North Yakima
Billings
Paeadena
410,744,985 403,035,401 +1.9
47,139,305
42,435,463 +11.1
15,895,127
12,549,735 +10.7
12,923,897
14,300,300 -9.6
10,975,937
8,626,858 +27.2
6,495,119
8,123,083 -19.9
5,075,787
3,768,239 +34.7
5,589,308
5,418,058 +3.2
3,498,428
2,100,000 +66.6
1,468,665
1,245,951 +25.9
1,400,000
1,139,000 +22.9
850,342
966,570 -12.0
787,351
622,684 +26.4
696,533
531,663 +31.0
584,971
459,639 +27.Z
476,340
329,488 +44.7
230,000
212,038 +8.5
700,000 Not included in total
Total Pulite_ _ 114,087,110 102,828,767
46,701,981
38,394,028
Kansas City
21,090,235
17,660,189
Minneapolis
14,339,958
13,016,440
Omaha
11,105,054
8.772,161
The full details for the week covered by the above will be given next Sat- St. Paul
9,177,771
8,941,761
urday. We cannot furnish them to-day, clearings being made up by the Denver_
6,488,685
5.189,495
clearing houses at noon on Saturday, and hence in the above the last day St. Joseph
3,750,613
3,490,403
of the week has to be in all cases estimated, as we go to press Friday night. Des Moines
3,268,643
3,061,725
We present below detailed figures for the week ending with Saturday, Duluth
2,761,809
2,678,655
noon, July 16, for four years.
Sioux City
3,450,560
2,694,280
Wichita
1,619,490
1,424,310
Lincoln
Week ending July 16.
1,312,269
1,350,887
Topeka
Clearings at1,120,682
1,022,485
Davenport
Inc. or
1,202,491
1,045,949
Rapids
Cedar
Dec.
1908.
1909.
1910.
1907..
810,395
786.270
Colorado Springs.
941,780
769,906
Fargo
1,120,000
650,000
Falls
Sioux
1,723,759,210 1,782,988,545 -2.8 1,481,047,029 1,611,773,036 Pueblo
New York
609,549
577,037
146,544,233 129,262,997 +13.4 117,769,591 141,839,989 Fremont
Philadelphia _ _
294,242
265,199
47.582,871 +10.7
38,102,580
51,802,927
Pittsburgh
52,686,506
30,522,269 +7.8
25,390,211
26,990,348
32,890,442
Baltimore
Tot.0th. West. 131,220,207 111,796,680
7,998,663
9,383,127 +10.8
8,490,847
10,395,681
Buffalo
74,630,513
68,124,695
5,583,998
6,258,343 St. Louis
6,946,484
7,128,768 -2.6
Washington _
15,469,489
15,951,077
5,642,467
6,295,189 -11.1
5,504,193
5.783,401 New Orleans_
Albany
12,202,043
12,618,835
Louisville
-0.9
3,076,868
3,174,102
4,157,857
4,118,699
Rochester
12,309,822
12,752,628
2,148,732
2,934,440
2,354,779 Houston
2,671,038 +9.8
Scranton
5,953,000
5,409,000
1,972,844
2,492,132 Galveston
2,855,689
Syracuse
2,557.153 +11.7
7,608,370
7,613,896
Richmond
+6.9
1.433,337
1,622,693
1,518,045
1,355,588
Wilmington
5,275,915
5,131,154
1,271,386
1,799,804
1,688,655 +13.3
1,321,055 Fort Worth
Reading
5,038,042
4,445,036
1,069,776
1,460,742
1,181,031 Memphis
1,294,986 +12.8
Wilkes-Barre ...._
8,940,587
7,025,801
1,602,870
1,839,716
1,856,299 -0.9
971,967 Atlanta
Wheeling
4,285,759
3,694,484
1,267,302
1,176,736
1,251,536 -6.0
1,006,928 Nashville
Harrisburg
4,000,000
3,319,836
Savannah
1,539,902
1,469,039 +0.7
Trenton
1,568,596
3,103,881
2,697.678
Norfolk
875,462
York
055,328
899,833 +6.2
838,638
2,433,757
1,908,766
611,367
Erie
774,048 +14.2
746,397 Birmingham
884,949
1,360,608
1,471,175
674,484
Chester
514,609
639,994 -4.7
510,862 Mobile
2,500,965
1,842,259
Binghamton
_
518,600
802,100 -5.0
478,800
546,900 Jacksonville -.1,770,847
1.4811,730
Knoxville
Altoona
516,016
522,622
460,818 +13.4
1,610,112
1,468,646
Greensburg
457,113
602,341
420,354 +42.8
419,027 Chattanooga
1,590,771
1,446,994
Franklin
679,830
281,994
338,158 -16.0
274,831 Little Rock
1,540,442
1,201,581
Charleston
2,411,600
1,700,000
Total Middle__ 2,002,432,507 2,035,463,677 -1.6 1,701,250,999 1,809,839,785 Oklahoma
1,321,304
2,031,056
Augusta
668,489
835,000
170,560,031 172,532,836 -1.1 159,849,776 105,958,296 Macon
Boston
624,950
600,000
8,000,000
Providece
8,895,500 -10.1
6,698,400
7,913,100 Beaumont
569,197
750,288
4,661,279
4,151,109
4,392,024 +6.1
Hartford------3,904,838 Austin
255,449
229,047
Vicksburg
3,466,178
Haven
3,208,918
New
8,350,110 +3.5
2,725,276
424.582
367,636
2,558,701
1,900,000
Springfield
2.400,000 +6.6
2,145,016 Wilmington, N.C
280,000
465,000
2,444,476
1,796,122
2,002,992 +22.0
Portland
1,844,601 Jackson
178.591
190,000
2,536,156
1,734,807
1,826,150 +38.9
Worcester
1,732,716 Meridian
1,027,095
992,300
1,537,458 -33.2
907,548
Fall River
Total Southern 179,062,623 166,037,760
1,144,936
1,078,015
1,222,288 -6.4
735,458
New Bedford_ _
596,470
505,753
551,417
+8.2
Lowell
688,327
3,035,125,412 3,018,389,410
Total all
576,708
463,586
Holyoke
510,350 +11.7
411,404
Total all altIra for week
Tot. New Eng_ 197,671,980 199,227,125 -0.8 182,387,786 188.966,580
N
-Fos Canadian dear ngs see "Commercial and Miscellaneous News."
Inc. or
Dec.
Outside N.Y.. 1,311,366,202 1,235,400,865
1907.
1908.
238,387,714
27,011,400
15,933,592
13,009,354
10,243,569
9.026,363
5,127,700
3,976,649
2,023,199
2,058,354
1,739,810
2,440,624
1,077,492
805,266
910,225
700,000
747,626
566,834
682,960
400,000
533,230
388,182
321,474
456,232
957,916
447,683
350,000
360,198
232,158
152,513
16,911
237,708,835
28,568,600
19,384,848
15,484,713
10,973,657
8,599,318
5,790,700
4,169,788
2,556,177
2,484,293
2,221,045
2,289,488
1,120,534
751,718
780,278
825,000
850,875
848,591
1,024,980
520,047
501,834
383,102
394,927
368,627
359,501
358,134
413,598
270,000
300,000
340,855,228
36,216,011
10,955,968
9,855,437
6,218,080
5,243,832
3,146,063
4,305,079
1,536,151
853,070
742,000
951,435
535,540
482,811
415,666
210,885
188,805
350,048,468
42,979,631
11,315,924
9,692,681
7,668,719
7,789,835
2,977,935
5,056,639
2,562,935
+10.9
+20.2
+19.4
+10.2
+27.3
+2.6
+24.5
+7.4
+67.6
+3.1
+28.1
+13.7
-3.2
+9.6
+15.0
+3.1
+22.3
+72.3
+5.6
+10.9
81,853,933
82,941,488
15,919,540
10,553,536
8,101,341
8,259,516
4,407,998
2,418,016
91,802,662
30,318,693
20,898,482
9,826,510
9,203.713
8,261,990
5,473,706
2,768,224
1,922,496
1,260,334
1,226,634
1,037,339
901,714
866,453
709,986
543,990
460,000
517,126
239,038
1,978,592
1,287,525
990,713
989,055
766,820
606.559
716,742
448,392
515,000
576,626
218,768
+17.4
+9.5
-3.0
-3.3
-3.5
+10.0
-0.1
+2.8
+13.3
+25.8
-13.8
+27.4
+17.3
+27.5
-7.5
+35.7
+21.0
+9.7
+10.4
+28.2
+41.9
+53.7
+24.9
-4.0
+31.8
+11.5
+15.5
+66.1
+8.4
92,283,545
59,671,037
12,279.822
11,901,208
7,993,705
4.880,500
5,894,468
4,330,590
3,664,491
3,506,458
3,100,000
2,584,767
2,089,862
1,535,461
1,620,093
1,426,386
1,241,898
1,263,511
1,215,099
1,201,613
943.061
867,863
507,169
510,591
383,389
300,000
330,000
350,000
95,846,110
60,734,222
14.986,810
12,269,703
11,612,846
5,090.500
6,117,293
3,772,233
4,268,975
4,076,332
3,959,552
2,942,520
2,595,640
1,991,964
1,479,651
1,600,925
1,532,958
1,426,558
1,206,723
1.250,000
994,065
1,372,558
584,483
467,043
+7.8
135.827,340
148,738,554
269,168
192,134
30,000
1,298,869
459,499
400,000
+0.6 2,534,488.326 2,743,237,157
+6.1 1,053.441,297 1,131,463,521
,
.
176
THE CHRONICLE
The revenues of United States railroads keep expanding in a most noteworthy way. But so do the
expenses. Consequently a greatly enlarged volume of
business is being done with relatively little addition
to the net. This is the conclusion enforced by the
compilations which we present to-day for the month
of May and comment on in a separate article on a subsequent page. Special interest of course attaches to
the results for the separate roads, where considerable
losses in net are shown in many instances. These will
all be found (together with full details of both earnings
and expenses) in the special supplement called our
"Railway Earnings Section," which we send to our
subscribers with to-day's issue of the "Chronicle."
This supplement gives the figures of every operating
steam railroad in the United States, big and little,
which makes monthly returns to the Commission—
over 800 companies altogether, covering more than
237,000 miles of road.
THE FINANCIAL SITUATION.
Developments this week have been rather mixed—
involving some unfavorable features as well as many
favorable ones—but nothing has happened to furnish
the least ground for general uneasiness. If it were
not, therefore, for the timidity engendered by political
influences—more particularly the attitude of governmental bodies, State and national, towards the great
railroad-carrying industry—the present hesitating
tone in business would quickly give way to renewed
buoyancy and activity. As it is, trade remains in a
quiet state. In the agricultural outlook the one conspicuously unfavorable feature is the injury done to
the spring-wheat crop in the Dakotas and Minnesota
by drought and extreme heat. Late dispatches confirm the early reports of a considerable loss in yield
from that cause. But that, while important as far
as wheat itself is concerned, is of minor consequence
in the general agricultural situation. The country's
largest and most important crop is corn, and there the
outlook for an excellent harvest continues very promising. During the present week rains in the Southwest, in the sections of largest corn production, have
tended further to improve an already bright prospect.
It seems proper to say, too, that the Southwest, in
contradistinction to the Northwest, appears to be
particularly favored the present season in an agricultural way, for all the indications point to a large crop
of cotton in Texas, Arkansas and Oklahoma, as well as
a big grain yield.
It is also an encouraging circumstance that the
threatened strike of the conductors and trainmen on
the lines of the Pennsylvania Railroad system east and
west of Pittsburgh has been averted. What is particularly gratifying about the settlement is that it
has been reached without assumption of obligations
on the part of the company to make further increases
in the rate of pay of labor. Judging from the statements of the officials of the road, and from the admissions of the heads of the labor unions, the concessions
have been entirely by the men, as indeed it was right
that they should be. The Pennsylvania employees
had been getting higher rates of pay than the employees of competing roads rendering similar service
Lxxxxi.
when three months ago (in April) at the time that
the New York Central employees were awarded higher
pay the Pennsylvania voluntarily granted a further
advance of 6%, thus maintaining a difference in most
cases in favor of the Pennsylvania employees, though
not so large a difference as had previously existed.
That is all the company could be expected to do at
the present time when operating cost is mounting up
so rapidly and when increases in transportation rates,
to offset in part the higher operating cost, are so generally being held up by the action of the Inter-State
Commerce Commission. It is well that the Pennsylvania men have recognized this fact, and, appreciating that public sentiment was not with them,
wisely decided to recede from their position and not
risk resort to a strike.
To be sure, while the Pennsylvania has escaped a
strike, the Grand Trunk Railway of Canada is in the
throes of one. On Monday the conductors, brakemen
and yardmen of the Grand Trunk and of the Central of
Vermont, involving an aggregate of 5,000 hands, quit
work, and since then the lines of that system from
Portland, Me., to Chicago, Ill., have been tied up as
far as the movement of freight is concerned, though
passenger service has been maintained. The experience of the Grand Trunk, however, in this respect
merely serves to make apparent how much more serious a similar strike on the great Pennsylvania system
would have been, and what a fortunate occurrence it
is that such a labor conflict here has not been precipitated. The strike which this week developed on one
of the English railways, and proved so disturbing until
the men returned to work on Friday,is a further suggestive reminder of the same kind.
On Thursday the community received quite a shock
by the unexpected action of the National Lead Co.
in reducing the quarterly dividend on its common
3 of 1%—thus cutting the divistock from 13% to %
dend from 5% per annum to 3% per annum. What
induced the directors to make their dividend announcement at this date, considerably ahead of the usual
time, is not altopther clear. The stock experienced
a violent break, dropping in a short time from 681A
to 52, very naturally exercising a depressing effect
upon the whole market. Yesterday there was a
further decline to 49. But the importance of the
cut in the dividend can be easily exaggerated. It seem
to be due to a special cause—according to the management to the high price of linseed oil, which latter has
followed from the reduced supply of flaxseed. In other
words,we have here a state of things not symptomatic
of our industries generally. We notice that the present
week rumors have again been current that the production of copper is to be curtailed. These rumors speak
of conferences that have been going on in this countrY
and abroad for some time past and suggest a worldwide movement for cutting down the output of the
metal. Production is unquestionably excessive, but
we should doubt that any lasting improvement in the
condition of the copper trade can be effected by
combining in this way. As far as the United States is
concerned, united action of that kind among the
producers would be in conflict with the anti-trust law,
and besides it would lack the element of permanency,
as there are so many producing interests to deal with.
The true way, it seems to us, is to let prices of copper
JULY 23 1910.]
THE CHRONICLE
177
, o down (the present week an attempt has been made months, it means a clear gain to the Commission of
to boost them up) until a point is reached where the three and a half months in which to make its investimines least advantageously situated and most expen- gation." We are not prepared to believe that the
sive to operate would be forced out of business. The' Commission would in this way take advantage of the
reduction in price would be a benefit to the public roads,and that the carriers are to lose instead of to
and would tend to stimulate consumption, bringing gain by their conciliatory attitude. Rather do we think
about inquiries for the metal which will be held in that the action of the roads is in the interest of a speedy
check while curtailment is attempted through artificial decision by the Commission. An enormous amount of
means. We have developed so many new sources of work would have been necessitated by the Commissupply in this country that even at 12@13 cents a sion if it had been called upon to prepare fotmal suspound there seems no limit to the amount of copper pension orders in all the numerous cases of proposed
than can be profitably produced. At 10@11 cents, higher rates upon which it is called to act. This labor
however, the situation would be different, and it the Commission now escapes, leaving just so much
might be the wisest thing in the end to recognize that more time available for an investigation of the advances themselves.
fact now.
At the same time, it must be admitted that it is unIn any general survey of the trade situation a feature
which should not be overlooked is that we are now im- fortunate that the date of the advances is being gradporting gold. A flow of gold this way is always an ually moved further ahead. Moreover, the Comauspicious event, for gold is the true money of com- mission is still handing down decisions reducing
merce, and in the present redundancy of our paper rates—on cases, of course, which originated long
issues we cannot have too much of it. Moreover, it before the new law was passed. This week a decision
will fortify us against exceptional needs in the autumn, was handed down by the Commission holding that
when the pressure upon our banks is always urgent by the rates on yellow pine lumber and its products from
reason of the movement of the crops. The further points in Louisiana, Texas, Arkansas and Missouri
engagements of the metal this week—part in London to points in Nebraska, Colorado and Wyoming
and part in Mexico—have aggregated $4,550,000, and reached by the lines of the Chicago Burlington &
the total engagements on the present movement to Quincy and other carriers are too high and should be
date have been $7,550,000. In part the influx repre- reduced. It was also announced that reparation would
sents an improved state of our foreign trade,• in be awarded. State commissions, too, are active.
part it is due to the large new loans that have been Thus the Railroad Commission of Ohio has rejected
placed abroad by United States railroad and other the new freight schedules showing considerable incorporations, and in part it follows from the fact that creases in classified freight rates on local business
money commands much better rates here than abroad. which were to go into effect Aug. 1. An announcement has likewise come that a conference is to take
As expected, very slow headway is being made in place between Chairman Martin A. Knapp of the
securing the advances in railroad freight rates which Inter-State Commerce Commission and J. P. Mabee,
the carriers so much need to protect their revenues Chairman of the Railway Commission of Canada, for
against the drain of rising expenses. Railroad man- the purpose of deciding upon some plan for the more
agers are so anxious to maintain amicable relations effective regulation of rates in the case of roads
with the Government that they are voluntarily con- operating in both countries by means of connections
senting to put off the contemplated advances instead in the one' country or the other. Furthermore, in
of forcing the Inter-State Commerce Commission to Chicago on Thursday a committee of shippers unaniavail of its new powers and suspend the higher sched- mously adopted resolutions deciding not to comproules by formal order. This is in consonance with the mise with the railroads regarding rates, but to carry
policy adopted after the Federal Government had got out the original plan of leaving adjudication to the
out its Court injunction restraining the putting into Inter-State Commerce Commission.
It is out of these various things that anxiety as to
effect of higher rates on the Western roads. The present
week agreements were reached with the Commission the future arises, and thus in the last analysis it is the
to withdraw all schedules providing for general in- action of Government that must be held responsible
creases in freight rates and to hold the advances in for the halt in trade, multiplying evidences of which
abeyance until Nov. 1. The carriers in Official Classi- are becoming manifest. But as another sign of the
fication territory, through a committee appointed for times it deserves to be noted that at a meeting of
that purpose, were the first voluntarily to postpone railroad employees. at Middletown, N, Y., last Saturthe effective date of the contemplated advances until day,resolutions were adopted urging "the powers that
next November. Yesterday similar action was taken be to permit the railroad companies of the country to
by the traffic managers of Western railroads—by the advance their freight rates to a point that will permit
carriers in what is known as Western Trunk Line them to pay the present scale of wages without loss
Association territory. The so-called Official Classifi- and to provide money with which to meet the cost of
cation Territory includes the roads east of the Missis- necessary increases in transportation facilities." There
sippi River and it is said that 15,000 tariffs are com- may be more significance in this action than in all the
prised in the agreement reached with the railroads other events narrated.
operating in that territory.
Improvement in the world's financial centres is
One of the dispatches in the daily papers, in construing the action taken, makes the following state- to be recorded this week. At home not one or two, but
ment: "This voluntary postponement is until Nov. 1, numerous, encouraging developments are to be noted.
and as the Commission may then, at its discretion, Last Saturday's Clearing-House return showed a furcompel suspension for the full statutory limit of ten ther addition of $14,751,225 to the actual bank sur
178
THE CHRONICLE
plus. In two weeks this surplus reserve has risen
from $8,699,300 to $33,490,325. This week the New
York institutions have gained cash from the Sub-Treasury at the•rate of approximately $1,500,000 per diem;
there has again been a generous inflow of currency
from the interior; our international bankers outbid the
Continent for the bulk of the $3,000,000 new gold
available in London on Monday, and later announced
the engagement of $3,000,000 gold bars in Mexico; the
average rate for call loans has declined, and within
the last few days time money has been obtainable for
any maturity at lower quotations than were current
a week ago; discounts are easier; the foreign exchanges
are still in the neighborhood of the gold-import point,
and it is now generally understood that London will
not artificially oppose the purchase of South African
gold for American account. Looking abroad, we find
that the Bank of England has succeeded in raising its
ratio of reserve to 513'%, an unusually high figure
for this season, and that private discounts continue
to rule almost 1% below the official minimum of 3%.
The Imperial Bank of Germany reports a cash increase
of almost $13,600,000 and a reduction of nearly $70,000,000 in note circulation, discounts and loans, while
money in Berlin, which tightened last week, has relaxed to 3%. At Paris discounts rule about 2% and
the Bank of France records a gain of $1,600,000 in
gold. Amsterdam is a trifle easier, and other centres,
with the exception of Vienna (where there was a
rather serious failure) are comfortably situated. To
this concise summary of monetary developments, it
may not be out of place to add that the June statement
of the chartered banks in Canada shows a gain in
all classes of deposits. Canadian banks now have on
call and short loans, outside the Dominion, the impressive total of $168,345,345, of which New York
carries perhaps two-thirds.
EVoL. LxxxxI.
an association later on, as no uneasiness will be created
at this time. This point is emphasized by Secretary
MacVeagh in his published communication to the banks
of the country, which we publish in our Bank Items
column on a subsequent page. Other large cities are
confidently expected to respond to this proposal. It
is not the present intention to have associations formed
in every section of the country, urban and rural, as
such a course is believed to be entirely unnecessary.
The knowledge that the reserve cities could take out
additional currency should occasion arise is depended
upon to prove effective in insuring banking tranquility in smaller places.
The announced understanding between the Bucks
Stove & Range Co. and the Federation of Labor is of
interest because the former, under the lead of the late
J. W. Van Cleave, was the most determined insistent
upon the principle of the open shop and had been
most opposed by the labor unions. The announcement that the company consents to employ organized
labor and the Federation in turn agrees to co-operate
by treating it fairly should be deemed not so much
a surrender as a consent to cease fighting. The right
to employ non-union labor is one which is so fundamental that it cannot be surrendered, for if one concern ceased to stand for it some other would in due
time be compelled to. The contempt case against
Messrs. Gompers and Mitchell, arising out of the attempted boycott of the St. Louis company, is of course
not susceptible of arrangement between any private
parties. That is still before the Supreme Court and
is due to come up next winter. What disposition will
be made of it we do not assume to predict, but it would
hardly accord with precedent and with court traditions for one court to intervene against a sentence
by another in a matter of contempt, and in this instance the contempt was an open defiance of a court
Secretary MacVeagh having suggested that associa- order.
tions be formed throughout the country under the
The sale this week of $5,000,000 of 4 per cent 30-year
Emergency Currency Act of May 1908, a meeting to
consider the subject will be held at the local Clearing bonds by the city of Philadelphia proved a success,
House next week, when the steps necessary to organ- though last week New York State o'ffered $11,000,000
ize:an association are expected to be taken. The Secre- of 50-year 4s and got bids for only $8,758,000. Philatary's recommendation has naturally created wide delphia's present success is the more noteworthy,
spread interest, but it cannot be said that the response coming so shortly after the failure of that city to
has been enthusiastic; indeed, New York bankers dispose of an offering of $8,000,000 bearing a like
candidly admit that they would not have acted had rate of interest. In this last instance, however,
the matter not been brought forward by the head of there was some question as to the legality of the
the Treasury Department, nor do they intend to do issue; litigation affecting the $8,000,000 loan was
more than formally organize an association, no meas- pending and it is still undetermined. Since the
ures to secure emergency currency being contemplated. failure of that offering, the Supreme Court has passed
The Washington authorities recognize that unless New upon the validity of the $5,000,000 loan and, having
York moves, the rest of the country is unlikely to do the approval of the Supreme Court of Pennsylvania,
so; hence they are particularly anxious that the lea the bonds offered this week were sold.
Philadelphia, however, adopted some unique
be taken here. Largely out of courtesy to the Government, and not because they feel an Emergency methods in disposing of the present bonds. Instead
Currency Association is needed or likely to be needed, of offering the $5,000,000 loan to the highest bidders,
local bankers, therefore, have taken preliminary steps as is customary, Mayor Reyburn offered the bonds
along the lines desired, and within a month organiza- at par direct to investors; the bonds are issued in
tion will probably be perfected. The committee hay- denominations as low as $100 and the object was to
ing the project in charge consists of Frank A. Vander- appeal to small investors. To accommodate this
lip, President of the National City Bank; A. Barton class of people the principal saving fund societies of
Hepburn, President of the Chase National Bank, and Philadelphia waived the right to two week's notice of
Henry P. Davison of J. P. Morgan & Co. Action now, withdrawal of deposits. Subscriptions from all
when no monetary stringency exists, is considered pre- sources amounted to $8,100,000 and from individual
ferable to running the risk of having to hurriedly form investors and clubs to $4,800,000. City officials
JULY 23 1910. i
THE CHRONICLE
also injected a savoring of political methods into the
transaction. A letter was sent to every bank and
trust company having deposits of city funds, of which
the aggregate on deposit is about $20,000,000, calling
upon these institutions to subscribe for the city 4s.
The bankers responded generously and thus the issue
was practically underwritten. The call to the
financiers to "come up to the captain's office" resembled very much the demand sent forth by political
leaders to policemen, firemen and other municipal
employees for assessments to defray campaign assessments.
Cotton has fluctuated widely during the week on the
New York market, and at the close last night middling
uplands spot cotton ruled at 16.00c., or very near the
high point of the season. Following the advance of
4-10c. in spot price on Friday last (July 15), and an
even greater rise in the July option, apparently due to
the anxiety of shorts to cover outstanding contracts
in that month, there were no further important
changes until Tuesday. On that day, however, a
decline greater than the preceding advance was witnessed, spot quotations dropping Mc. per lb. and the
July option losing in all 90 points, or $4 50 per bale,
part of which was recovered before the close of the
market. The net result of trading during the remainder of the week has been a further small recovery,
leaving the spot price for middling at 16c., as stated
above. Not since 1874 has there been a continuous
period of such high prices as have ruled in the current
season. It is true, of course, that in the "Sully year,"
or, more properly speaking, 1903-04, a higher level
of value than now seen was attained, but it was maintained for only a comparatively short time.
The immediate result of the high prices has, as is
known, been to depress the cotton-manufacturing
iqdustry not alone here but abroad. Curtailment of
production has been resorted to almost since the opening of the season and now, in the United States, involves a considerable portion of the country's spindles.
It is currently rumored that cotton has been sold
recently for export or to go into consumption (thus
removing it from the possibility of being tendered on
contracts) at 1 cent or more per lb. under ruling
prices. The truth of this rumor we are not able to
establish, but it is known that in former years, when
manipulation was in progress,such a practice was followed—in fact, we are assured that on some former
occasions it was possible at times to make purchases
conditional upon the cotton going into consumption
or being actually shipped out of the country, at as
much as 19c. per lb. under the current quotations.
The present manipulation and high prices have been
productive of anomalous conditions. Not only has
there been a return to New York from abroad of
60,126 bales American cotton with 10,000 hales more
expected, but mills both North and South have sold
considerable quantities from their stocks for delivery
in this market on contracts. With requirements reduced owing to slack demand and curtailed operations,
it has been a good business proposition for mills to
dispose of at least part of their stock at current values.
The latest reported sales from stock have been by
Fall River mills, which are stated to have sold and
shipped to New York over 5,000 bales within the last
few days.
179
President Taft and Prime Minister Laurier are impressing upon their constituents the desirability of
removing the artificial barriers that have checked,
but which could not kill, trade between the United
States and Canada, and the response their utterances
have evoked encourages the belief that sound common.
sense rather than outworn prejudice will govern both
nations when negotiations are brought before the.
respective legislatures. Sir Wilfred Laurier has been
visiting the western parts of the Dominion, and the.
reports of his experiences agree that everywhere there
was impressed upon him the urgent need of establishing freer trade with the United States. A considerable percentage of Canada's agricultural population in the regions visited emigrated from across the
border, and they naturally find that many of their
wants can be best satisfied in American markets.
But the demand for closer commercial relations is
not confined to Americans in Western Canada or even
to the whole Dominion; it is becoming more insistent
every year among the business people of this country,
as the politicians are beginning to realize. At the
recent conferences with Canadian statesmen over the
Payne tariff schedules, good seed was sown and the
harvest promises to be not unconscionably delayed.
At Eastport, Me., President Taft this week took
occasion to discuss the growing necessity for cultivating more friendly trade relations between the two
neighboring countries. His language permits of no
doubt as to his sincerity in desiring an entirely new
agreement based on amity in place of animosity.
"Canada," he declared, with characteristic frankness
and magnanimity, "is a great country, and we are
just learning how great a country it is. Speaking for
the Administration, we are convinced that a closer
commercial relation with Canada will be well for both
countries, and if in the next year we can come to any
agreements by which our commercial relations shall
be closer, we shall think ourselves fortunate."
He next enunciated a principle that is now generally
accepted in the economic and financial world, but
which has not yet found universal acceptance politically, namely that the prosperity of one country
contributes to the prosperity of others, and vice versa.
"We have reached," said the President, "a time
when neither ought to be envious of the other, but each
ought to be convinced that the more prosperous the
one the more likely the other is to be prosperous,and
that the growth of the trade of one means the growth
of the trade of the other."
That the present stumbling blocks to this international trade will not be allowed to remain indefinitely
is coming to be generally recognized. Even should
our tariff as a whole not be revised next year, the makeshift arrangements entered into with Canada this
spring are likely to be dealt with in the spirit manifested by President Taft.
European budgets are showing so pronounced a
tendency to expand that the movement to restrict
expenditures on armaments has received a fresh impetus. Germany, however, has again refused to entertain overtures made by the British Government.
Premier Asquith, addressing the House of Commons
on naval expenditures, last week expressed the wish
that an arrangement could be reached with Germany,
but added: "This Government has approached the
180
THE CHRONICLE
German Government on the subject, but the latter
can do nothing, owing to the navy law on their statute
books. That being so, we must make our program
accordingly." Germany, he said, would have 21
Dreadnoughts by April 1913, against Britain's 25;
hence the provision made for increased naval expenditures "could not be regarded as an inflated jingo program. The Government would be false to its trust
unless it maintained an ample margin of security
against probable "or possible risks." This is not the
first time that Emperor William or his Ministers have
turned a deaf ear to Great Britain's entreaties to call
a halt. The reason given now is "the navy law on their
statute books." But surely laws can be amended—
laws are amended nowadays with a frequency not
dreamt of by the Medes and the Persians. Why Britain should be willing to restrict instead of to inflate
her naval expenditures can be readily grasped by any
one who examines the growth of her bills for Dreadnoughts and super-Dreadnoughts.
Railroad troubles have unsettled the security markets
of four countries during the current month, but,
happily, settlements have been effected in more than
one instance. France was the first to be threatened
with a widespread strike; quietness has been maintained for the present, yet fears are expressed that
many thousands of men may stop work at any moment. At home the most serious dispute was that
between the Pennsylvania RR. and its trainmen.
This company, like the United States Steel Corporation in the industrial world, has earned an enviable
reputation for its considerate treatment of employees
—it pays good wages, it has disbursed millions of
dollars in relief funds, it grants pensions to those who
reach the age limit, and in other ways constantly
demonstrates its thoughtfulness for those who contribute to the running of the greatest transportation
machine in this or any other country. Knowing this,
The financial community could not believe that any
grave deadlock would be precipitated by the men; consequently, when an amicable settlement was announced
on Tuesday, no astonishment was expressed, although,
of course, the always sensitive stock market felt
relieved. On the same day, however, the conductors
and trainmen of the Grand Trunk RR. caused surpise
by suddenly stopping work, thus preventing the
movement of freight and interfering somewhat with
the operation of passenger trains on that road. Both
sides, it appears, were well prepared for just what
happened. The management. immediately closed all
its workshops and drew therefrom numbers of men
experienced in running trains, it engaged all additional
held available and advertised for more at the rates
of pay offered the strikers, with the result that traffic
has been restored in part. England had even a more
trying dislocation of transportation for the greater
part of this week through a strike on the important
North Eastern RR. Several thousand men of various
grades quit work on Monday evening as a "protest
against the generally tyrannical methods of the
officials"—a complaint very vague and intangible.
On Tuesday the strikers grew in number, and .by
Wednesday the total reached 10,000. The huge
collieries and iron works in the Newcastle district, as
well as other industries along the River Tyne, were
crippled, and other sections of the country served by
[Vol- Lxxxxi
the road were seriously inconvenienced. By Thursday
upwards of50,000 workers,railroad and industrial, were
idle. But the influential Amalgamated Society of Railway Servants refused to countenance the strike, and yesterday the men,withoutfurther ado,returned to work.
The moderate increases in commutation rates on
the railroads in New Jersey went into effect on Wednesday. The commuters are crestfallen, for they had
hoped the Inter-State Commerce Commission would at
least insist on further delay. When materials have
risen in price and the labor unions have compelled
increases in wages, the change has taken effect at once
and no general or local cry has come for suspension
until the subject could be investigated; but when the
carriers attempt to readjust their own charges in response,it is deemed just and necessary to proceed with
great deliberation lest some mistake be made. This
distinction is plainly unfair, and now the commuters
renew their declaration that they will elect to the
Legislature men pledged to enact some laws on the
subject.
Nothing new can be added, but when a class of
travelers who have the lowest rates of all, averaging
only about one-fourth of the regular transient rate,
get so excited in opposing a very moderate increase
that they do not seem to look beyond the undoubted
fact that the increase is disagreeable, this seems a
natural result from paternalism and the public inviting
and encouraging of complaints. To dwell overmuch
upon the side of the shield which is turned directly
towards ourselves tends naturally to make us forget
that there is always another side.
A further thought is suggested. Attempts to interfere with the natural workings of production and trade
resemble falsehood in an important respect, namely
that the first step taken seems to require further steps,
and there is no definite place of stopping. All transportation rates and all insurance rates are as sure to
finally adjust themselves to the conditions as the seasons are to return; the conditions may change, but the
rates must and will change with them. There may be
what seems to dissatisfied people "a gain" of time,
but the readjustment is only staved off a little; no
possible commands of. statutes can prevent this.
Moreover—putting everything else,saside—if our regulatiVe commissions proceed in their present course, as
they must do if they attempt to satisfy popular demand, the time cannot be far distant when the whole
scheme must break clown, because its undertakings
will have become impossible. Is not this the natural
end of the whole phantasm of emotional folly?
Even the most exuberant optimism does not expect
to find pleasure in the announcement of the tax rates,
and the present year's announcement for this city is
no exception. The figures were fixed on Tuesday,
at $1.7579 in Manhattan and Bronx, about $1.815 in
Brooklyn, $1.81 in Queens and $1.875 in Richmond.
Last year the rate ranged from $1.678 in Manhattan and Bronx to $1.775 in Richmond. It is
reasonable enough that the actual cost of governing
may somewhat increase with population and area to
be governed; but increase in the rate of tax cannot be
called fundamentally natural.
It has already been pointed out that the cost of the
State Government is 5;<2 millions more this year than
JULY 23 1910.]
THE CHRONICLE
in 1909, and a surplus has been replaced by a deficit;
also that the increase during the last four years (about
12,3.4 millions) is almost exactly the same as the increase in the previous twenty, while Gov. Tilden was
able to tell the Legislature of 1876 that the State expenses had in the two years then just passed been reduced from $15,727,482 to $8,268,196. Looking to
Washington, a like growth is found. Comparing the
second term of Grover Cleveland with the second term
of Theodore Roosevelt, both the regular and the permanent annual appropriations more than doubled,
the total of both rising from 1,8713' to about 3,84234
millions. Moreover, of the fifteen principal governmental purposes in the list of regular annual appropriations, only four failed to quite double during the
term covered by this comparison and a few made up
by tripling or quadrupling. These figures are from a
table made up by Mr. Livingston of Georgia, the
leading minority member of the House Committee on
Appropriations.
In the course of lectures delivered at Yale about a
year ago on "conditions and progress in democratic
government," Gov. Hughes remarked that "if there
were no other reason for insisting upon efficiency, it
should be sufficient to point out that the cost of government is increasing at a tremendous rate;" and he
urged that "if we are to have contented communities
and be free from disorder we must stop extravagance
and careless expenditure and have public business
properly transacted." This may be admitted as true;
yet it is also true that public business will never be
done, short of the millenium, with an effectiveness
and economy like that in private business.
Positively the way to reduce the cost of government
materially and safely is to reduce government. As
paternalism or socialism spreads the regulative attempts of government increase; new things are undertaken; further interferences with the conduct of business occur; commissions and bureaus multiply; more
and more legislation is piled up; every fresh part attached to the machine seems to require still more parts;
the army of placeholders receives new recruits; the
entire huge complication expands, and the cost piles
higher and higher.
This is all a part of a consistent, although involved
process, and it has developed so swiftly, while attention
has been fixed upon various objects of imagined value
which "the government" was going to accomplish,
that the people have not realized the process. If it
were found to be inevitable that this year's cotton or
wheat or corn crop would be totally lost, or that fire
would destroy several of the great cities, probably
every man would be able to understand that such a
vast loss of wealth would mean .a burden of poverty
which would affect all. But that public extravagance
and an army of tax-eaters are a waste, and mean poverty we have not yet begun to realize, so obsessed have
we been with the delusion that government can bestow
largess on the people. On the contrary, government
only re-distributes—and on the whole very badly—
what it has previously seized from industry. If we
really want government to do a lot of delightful things
for us, it is full time we dropped the notion that those
can come as a gift. They are to be paid for, and paid
for wastefully. The direct taxation which now faces
us in this State will be an unwelcome teacher, but it
ought to teach a wholesome lesson.
181
European discount rates have weakened during the
current week at most points. London has been and
is an exception, the demand for gold having been an
influence there in maintaining relative firmness. As
high as 2h% has been paid for both 60 and 90-day
bills, but latterly there has been keen inquiry for spot
bills at 23/8% for 60 days, although 23% is still quoted
for 90-clay bills. The near future, however, is regarded
as obscure, a fact that is well brought out by the
wide range of quotations for bills to arrive; some
brokers are willing to accept them at 23g%,
but others name as high a figure as 2%% and even
23/2%. At Paris the decline in securities, particularly Americans, continues to depress operations;
discounts remained there at 1%% until yesterday,
when an advance to quite 2% occurred, although the
Bank of France this week gained $1,600,000 gold and
lowered its note circulation by fully $21,000,000 and its
bills discounted by more than $10,000,000. At Berlin
the tension has relaxed a little, the rate having fallen
to 3% for all prime bills. A fairly important failure
at Vienna of a firm having extensive commitments
in European and American securities had an unsettling
effect at the middle of the week; the discount charge
at that centre is now 33
4%. Amsterdam is slow to
return to a normal level; it names 43% this week.
In Switzerland the ruling rate is 2%%. No changes
have been made during the week in any foreign bank
rates.
The Bank of England, notwithstanding its failure
to secure any substantial portion of the new gold
sold at an advanced price on Monday, was able on
Thursday to report a moderate improvement in its
ratio of reserve to liability, even though total reserve
and bullion both showed decreases. According to our
special cable from London, the Bank's reserve increased from 50.32% last week to 51.27% this week;
the Bank lost £174,782 bullion during the week and
held £41,198,125 at the close of the week. But liabilities decreased; loans fell £552,000, Government
deposits £1,927,000 and Government securities £602,000, although ordinary deposits, reflecting the distribution of public funds in redeeming Treasury bills,
gained £725,000. Our correspondent further advises
us that the movement of gold into the Bank was made
up entirely of small imports from miscellaneous
sources. Shipments to the interior of Great Britain
were moderate and exports were light. The details
of the movement into and out of the Bank were as follows: Imports, £10,000 from miscellaneous sources;
exports, £45,000 (of which £30,000 to South America,
£10,000 to South Africa and £5,000 to other destinations); and shipments of £140,000 net to the interior
of Great Britain.
Money is not being withheld so generally from the
market as it was a week ago. The trust companies
have come forward with time facilities, and these offerings have been supplemented by occasional blocks
of long-term money from private bankers. The principal national banks are still lending cautiously for
most purposes, although these institutions have latterly been compelled to shade their terms for collateral
loans. The spirit of conservatism that has had possession of the New York money market during July
is manifested by an almost complete withdrawal of
182
THE CHRONICLE
funds for building and real estate operations. It is
felt that the activity in this direction is in danger of
being overdone, and the three great insurance companies, as well as the savings banks,and others,who
carry large quantities of mortgages, are now discouraging fresh enterprises. Inasmuch as commercial
requirements are of less than average volume, discount
rates have moved a trifle in favor of drawers of prime
bills, these being now negotiable M of 1% above the
rate for Stock Exchange accommodation. The easier
tone in the general money market here was brought
about by the early indications afforded by the
Comptroller of the Currency's statements of curtailment on the part of out-of-town banks (although the
full returns proved less encouraging), by the remarkable growth in the clearing-house banks' reserves
during the last few weeks, by the engagement of $7,550,000 gold to date for import and by a continuance
of intense dulness in speculation. Moreover, two or
three of our international banking houses are obtaining extensive credit in London and Paris, a movement
that is shown by the appearance this week of foreign
exchange finance bills.
The decline in rates has embraced time money,
call money and commercial paper. The range for
time loans closes the week as follows: Sixty days,
33.%; ninety days, 39 to 4%; four months, 4 to
43%; five months, 43/b to 49'%, and six months,
5 to 53/2%. Call money has been offered in abundance
and nearly all the business has been done at 23/2%.
Last week's maximum of 3% has not been repeated,
while as low as 13/2% has been recorded. Yesterday
the range was 2% to 23/2%, with most of the business
done at 23/2%. The average ruling rate for the week
has been 23/2%. Commercial paper is still in adequate supply, owing mainly to the dulness in the demand during recent weeks. The output of new bills
is not by any means excessive and the absorption is
increasing, so that rates are tending downwards.
The best four to six months' single name bills are now
0, with 6 to 6Y2% named for less
quoted 53' and 597
desirable names. Sixty to ninety days' endorsed bills
receivable range from 5 to 5M%.
[VoL. Lxxxxi.
must have influenced the importers. The aggregate
engaged to date has been $7,550,000, including the
$3,000,000 secured in Mexico. It is expected that
New York will again compete for the South African
bars to arrive in London on Monday next; the shipment
amounts to about $3,500,000.
Fluctuations in foreign exchange have been frequent
but not unusually wide. Last week's minimum has
not again been quoted, but although demand sterling
has sold at 4 85M, transactions for delivery next week
have been entered into upon a lower basis. Trading
has not been on a large scale. One feature has been
a continuance of the output of finance bills; these
have come from one of the very largest banking houses
in the country, while less influential interests have also
sought credits abroad. In London efforts have been
made to keep the private discount rate within 1% of
the Bank rate, but the Bank of England and the open
market are so well supplied with funds that a keen demand exists for bills, holding rates down. In Paris
money can be secured at 2%. Supplies of commercial
bills are not large, but the absorption is indifferent.
As to-day's steamer is a slow one, the inquiry has been
mainly for exchange for shipment on Tuesday.
Europeans have done little in our security markets
this week; there is no particular investment demand
for bonds, while stocks have been bought and sold
alternately on balance.
Compared with Friday of last week, demand sterling
on Saturday was unchanged at 4 8535@4 8545 and
cable transfers at 4 8565@4 8575, with 60 days weaker
at 4 8350@4 8360. On Monday the market was again
easier, with demand at 4 8530@4 8535, cable transfers
4 8550@4 8560 and 60 days 4 8350@4 8360. On
Tuesday demand advanced to 4 8545@4 8550, cable
transfers to 4 8565@4 8575 and 60 days to 4 8365@
4 8370. On Wednesday 60 days was quoted at
4 8365@4 8375, demand 4 8545@4 8555 and cable
transfers at 4 8565@4 8570. On Thursday demand
advanced to 4 8555@4 8565, cable transfers to
4 8580@4 8590 and 60 days remained at 4 8365@
4 8375. On Friday early firmness was followed, on
dull trading, by a recession ifT rates, demand being
quoted
at 4 853/i and cable transfers at 4 859.
inhave
abroad
New York's receipts of gold from
The
following
shows the daily posted rates for
the
expectations
creased this week in accordance with
some of the leading drawers.
by
sterling
exchange
outbid
Germany
bankers
expressed a week ago. Our
South
African
gold
new
the
$3,000,000
for the bulk of
Fri., Mon., Tues., Wed., Thurs., Fri.,
offered in London on Monday; the price paid was
July 15 July 18 July 19 July 20 July 21 July 22
--------------2d. per ounce and there were
84X
84 X
84%
843,i
not less than 77s. 93/
84J.
160 days 4 84 X
g134
i
Mi
865
86Y,
86Si
Bronthers & Co
1Sight__ 4 86%
Brow
84
84
84
4
hL.. 4 86
reports that an appreciably higher figure had to be Kidder,
6108days
18
}
86
86%
86%
86
86
Peabody & Co
3,::
:
884
866
84%
4:
84X
86
84X
4 84A
of British
advanced for part of the consignment. The inter- Bank
86%
86X
86%
863
863
North America
)S601gdhat.". 4 86%
84%
84M
84%
of
Bank
4
days
60
Freres
Lazard
announced
of
house
843/2
national banking
g3331
/3%1
86X
Montreal
I Sight__ 4 86%
7%
84
84A
84 X
7%
84
8
843
Bank
160 days 4 84 X
that they would import $1,550,000 of the offering, but Canadian
86%
80X
87
1Sight__ 4 864
of Commerce
84%
6
81
84 6
84%
843
160 days 4 84%
4%
86
no definite information has been vouchsafed from any Heldelbach,
86%
8654
Ickelhelmer & Co_ _1Sight_.4 86%
84
84
84
84
160 days 4 84
Lazard •
86
86
86
86
86
quarter regarding the disposal of the remainder. The
}Sight__ 4 86
84%
84 A
84%
84%
8454
Merchants' Bank
160 days 4 8454
8654
8654
8654
8654
Sight - 4 8654
8654
same bankers later intimated that they had engaged of Canada
$3,000,000 gold bars in Mexico, one-half of which has
The market closed on Friday at 4 8340@4 8350 for
already reached New York. So far as known, no
days, 4 8550@4 8555 for demand and 4 8575@
60
participated
in
have
the
bankers
or
banks
other
for cables. Commercial on banks was quoted
8580
4
somewhat
strange
This
fact
movement.
gold-import
has been explained in certain quarters by an assertion at 4 83@4 833< and documents for payment 4 829.
that the shippers are acting for an influential syndicate @,4 83. Cotton for payment ranged from 4 823/2@
%, grain for payment from 4 83@4 8334.
of downtown financiers and banks; but this is not 4 823
credited. Exchange operators still adhere to their
The following gives the week's movement of money
contention that no material profit has been obtainable in importing gold and that other considerations to and from the interior by the New York banks.
THE CHRONICLE
JULY 23 1910.J
Week ending July 22 1910.
Currency
Gold
Total gold and legal tenders
Net Interior
Movement.
Shipped by
Received by
N. Y. Banks. N. Y. Banks.
$9,548,000
3,094,000
$3,346,000 Gain $6,202,000
746,000 Gain 2,348,000
$12,642,000
$4,092,000 Gain $8,550,000
With the Sub-Treasury operations and gold imports the result is as follows:
Week ending July 22 1910.
Bdnks interior movement,as above_
Sub-Tress. oper. and gold Imports__
Total gold and legal tenders
Net Change in
Bank Holdings.
Out of
Banks.
Into
Banks.
$12,642,000
37,900,000
$4,092,000 Gain $8,550,001
29,300,000 Gain 8,600,001
$50,542,000
$33,392,000 Gain $17,150,001
The following table indicates the amount of bullion
in the principal European banks.
July 21 1910.
Banks of
Gold.
£
England__ 41,198,125
France ___ 135,530,800
Germany. 39,652,250
Russia __.141,213,000
Aus.-Hun_ 55,408,000
Spaid ___ 16,274,000
Italy ____ 38,991,000
Neth lands 9,237,000
Nat.Belgr.. 9,596,667
Sweden _ 4,447,000
Switzerrd. 6,765,000
Norway _ 1,681,000
Silver.
£
July 22 1009.
Total.
Gold.
£
£
41,198,125 40,746,378
34,635,360 170,166,160 147,889,640
14,973,950 54,626,200 40,817,700
8,640,000 149,853,000 125,678,000
13,124,000 68,532,000 56,526,000
31,063,000 47,337,000 15,990,000
3,820,000 42,811,000 38,517,000
2,091,500 11,328,500 10,533,000
2,298,333 6,895,000 4,227,333
4,447,000 9,377,800
5,765,000 4,775,000
,_
1,681,000 1,697,000
Silver.
Total.
—
£
40,746,378
36,083,68C 183,973,320
13,101,30C 53,919,000
8,818,000 134,496,000
12,828,000 69,354,000
32,122,00C 48,112,000
4,710,000 43,227,000
3,716,900 14,299,900
2,113,667 6,341,000
4,377,800
4,775,000
1,697,000
£
Total week 493,993,842 110,646,143604,639,085 191,774,851 113,493,547 605,268,398
Prey. week 491,411,407 110,805,510602,216,917 490,052,959 112.893,273602,946,232
BUILDING SUBWAYS BY ASSESSMENT.
The time has arrived for giving serious consideration
to the feasibility of the plans which are being proposed
on every side for building subways by assessments on
the property benefited. For the moment the public
appears to have gone subway crazy. Everybody
thinks he ought to have a subway either at his front
door or his back door, and the notion is being sedulously cultivated that an easy way to attain that
desideratum is for the different suburbs, in a spirit
of magnanimity, to agree to bear the cost themselves
by submitting to assessments on the property contiguous to the lines of roads proposed. The city, in
building subways, is limited in the aggregate outlays it
can make by the constitutional prohibition against the
creation of debt in excess of 10% of the assessed value
For of course the amendment to the
of real estate.
constitution adopted last year under which bonds
issued for self-sustaining improvements may be left
out of the computation does not otherwise affect
the limit. On the other hand, in the case of subways
to be built by assessment, there is apparently no limit
at all. Certainly no limit is prescribed in the Rapid
Transit Act permitting construction under the assessment plan.
The localities which are desirous of getting rapid
transit lines of this description perceive that if they
waited for the city.at large to build the same out of
new bond issues they might have to wait indefinitely,
owing to the debt limit. Accordingly, they are having
recourse to the alternative method of building by
assessment and the public authorities are being overwhelmed with petitions of those who profess great
willingness to submit to assessments in return for the
expected benefits. It is evident enough that these
persons have no conception of what the proposition
may involve. Glib speakers have figured it all out
and demonstrated to their own satisfaction that the
cost is to be only a few dollars per lot, within everybody's ability to pay. Under these circumstances
every one, very naturally, is unanimously and enthusiastically in favor of the idea.
183
Steps are being taken, too, to give practical application to the assessment principle. The Public Service
Commission is helping the movement along and some
of the members of the Board have been making
speeches in favor of it. Last week the Commission
adopted a resolution laying out a rapid transit route in
Utica Avenue, Brooklyn, to run south from the
Eastern Parkway to a point near Jamaica Bay. The
newspapers have referred to this as the first project for
the building of a subway on the assessment plan to
receive approval. That, however, is .evidently an
error. For last January the Public Service Commission approved another Brooklyn assessment project,
known as the "Livonia Avenue Route." As ',showing
further that the assessment scheme is making rapid
headway, the Commission last Friday received an
offer from a committee of Brooklyn citizens, representing certain real estate interests, offering to operate
the proposed subway lines "along Flatbush • Avenue
from Atlantic Avenue to Eastern Parkway and along
Eastern Parkway and Livonia Avenue to New Lots
Road, and also the branches southerly on Utica
Avenue and Nostrand Avenue." Should the Commission consider their proposition favorably, they say
they will organize a company in such form as will be
satisfactory to the Commission and the Board of Estimate and make the necessary formal application.
It remains to be said that the assessment scheme has
also received the approval of the Chamber of Commerce of this city. Last February the Chamber
adopted resolutions endorsing the principle of local assessments for the extension of rapid transit systems
into the less densely populated districts, and saying
the fact that more than 52% of the owners of property had by a written document signified their consent
and approval of the building /of a subway along
the Livonia Avenue route demonstrated the practicability of the principle of local assessment under
proper safeguards.
It is seldom we find ourselves out of accord with the
action of the New York Chamber of Commerce, but in
the present instance it seems to us something more
than the assent of a majority of the property owners
(given, we are sure, without an understanding of what
is involved in the proposition) is needed to demonstrate
"the practicability of the principle of local assessment."
It may be that in some isolated cases, where conditions
are exceptional and more than ordinarily favorable to
the experiment, the assessment plan can be made to
work satisfactorily. But to build subways on the assessment plan by the wholesale certainly involves
grave objections and also grave perils. There is justification for speaking of "wholesale" building, because
in all parts of tie suburbs of the Greater City public
meetings have been held during the last six months at
which the residents have petitioned for the building
of rapid transit routes and have declared their willingness to submit to the needful assessment for the purpose, or, in common parlance, "to bear their share of
the cost." It is proper to recall, too, that on April 4
Mayor Gaynor, together with President Mitchell of the
Board of Aldermen and Comptroller Prendergast, as a
special committee of the Board of Estimate, held a
hearing in the Aldermanic Chamber to receive the
suggestions of the public on new subway routes. The
newspapers at the time reported that some 500 persons
appeared, representing taxpayers' and property own-
184
THE CHRONICLE
Lxxxxi
ers' organizations and other civic bodies, and advo- also, furnishing rolling stock, motive power, providing
cated the building of subways which would total in power-houses,buying real estate for stations, &c., &c.
cost $800,000,000. The hearings could not be con- The outlay would hence be very heavy. Suppose
cluded on that day, and a further hearing took place after the roads were built their operation resulted in a
the next week at which proposals for further subways heavy annual loss, the same as does the Staten Island
to cost several hundred millions of dollars were sub- ferry and the Thirty-Ninth Street ferry? Would not
mitted, making more than one billion dollars alto- these heavy yearly losses, along with the high rate
gether. Of course it would be absurd to suppose of interest and extra annual burden, tend further to
that our public authorities would sanction any impair the credit of the city?
such inordinate outlays, even if every property
From the other standpoint, namely that of the
owner declared himself in favor. The fact, however, property holder who is to bear the assessment, the
that the proposals reached such an enormous aggre- proposition would also appear to be full of pitfalls.
gate is suggestive of the present state of the public The property holder is told he would have to stand
mind on the question, and even if, ultimately, only an assessment of only about $100 to $150 in order that
$200,000,000 or $300,000,000 were actually authorized, the subway might be built, and as the law provides
there would be occasion for serious concern.
that only one-tenth of the assessment need be paid
There are two aspects in which the matter demands at the start and that the other nine-tenths may be
consideration. One concerns the property owner, paid in nine annual installments, the yearly amount
who is to pay for the cost of building these new rapid to be paid would be only $10 to $15—a comparatively
transit routes, and the other concerns the city itself. trivial sum. But unfortunately, this leaves a great
The latter has thus far been completely lost sight of. many factors out of consideration. A subway with
The property owner is to bear the ultimate cost. But two tracks will cost, roughly, $1,500,000 a mile,
who is to advance the money in the first instance? Of according to a speech made by Commissioner Bassett
course the city is to do it. How? By the issue of in November last. It is assumed that property within
assessment bonds. Ordinary assessment bonds, sup- half a mile on either side of the subway route would
ported by the faith and credit of the city, might be be assessed for the road. Taking 10,000 lots to the
issued, the same as is now done to pay for the cost of mile (allowing for streets), this would call for an
sewers and for paving and the like; but that would not assessment of just $150 per lot (20 feet by 100). On
answer, since the bonds would fall within the debt that basis the payment each year would be $15 per lot.
limit and could not be issued. Therefore, the Rapid
It must be remembered, however, that persons who
Transit Law authorizes a new kind of assessment bond, live in the suburbs do not build houses on a single.
to be known as "Rapid Transit Assessment Bonds."
20-foot lot. The least they have, as a rule, is three
Subdivision 7 of Section 37 declares that "such rapid lots, giving a frontage of 60 feet, and more often they
transit assessment bonds shall not be issued or sold have five lots, giving a plot of ground 100 feet square.
upon the faith or credit of the city, and the faith and That is one of the main reasons why they go out into
credit of the city shall not be pledged, nor shall the city the outlying sections, namely the fact that they can
be liable for the payment of any thereof, but such get more ground in that way—more light, more air.
bonds shall be payable only out of the moneys derived With three lots instead of one, the assessment would
from the collection of such assessments as the same be $450 and with five lots the assessment would be
shall be paid in." These bonds are to be payable in $750, and the yearly payments would, respectively,
not more than ten years and bear not to exceed 6% be $45 and $75 instead of the $15 assumed. The
interest. Ordinary New York City long-term bonds, ordinary suburbanite is a person of moderate means,
bearing 43% interest, are at present being maintained and a paymenteach year of $45 or $75 in addition to his
with difficulty at par, and these bonds have the credit ordinary taxes would be a burden by no means easy to
and the faith of the city, with the whole of its enormous bear. To a property owner on Mrtnhattan Island, with
property values, back of them. What rate of interest its. high land values and correspondingly large rental rewould the city have to pay on rapid transit assessment turns, such sums would undoubtedly be insignificant.
short-term bonds, which the law expressly declares To the suburbanite they might often mean real hardship.
shall not be secured by the faith and credit of the city,
As it happens, these figures are entirely inadequate
"nor shall the city be liable for the payment of any and represent only a fraction of the assessment burden
thereof," and which would have absolutely no security the suburbanite might eventually be called upon to
for their repayment except the assessments on the assume. When we say a subway with two tracks
property to be benefitted, with all the uncertainty would cost $1,500,000 per mile,we mean that the mere
which this involves? It would not be a bit surprising building of the tunnel or tube would cost that much.
in these circumstances if the full 6% interest authorized Whatever land or real estate was required would cost
had to be paid, and doubtless often (depending upon that much more. It must be remembered, too, that
the condition of the money market) the bonds might work done by Government is always more expensive
be unsalable even at 6% interest.
than when done by private parties under the stimulus
Suppose that eventually a considerable amount of of self-interest and estimates have a habit of rapidly
these special assessment bonds, bearing a high rate running up until by the time the work is completed
of interest,got afloat—what would be the effect upon the aggregate cost is found to be two to three times the
the general credit and financial standing of the city? original figures. An illustration of the truth of that
Would it not be in the highest degree detrimental? statement is furnished in the case of the Fourth Avenue
Some of these projects, it must be remembered, the Subway route, a portion of which is now in the course
city would have to finance all through. By that we of construction and bids for the remainder of which it is
mean that the city would not only have to build the expected will shortly be invited by advertisement—
road in the first place, but it would have to equip it after which, according to the daily papers, the building
JULY 23 191.0.j
THE CHRONICLE
of subways by assessment is to be taken up. In its
of March 8 last the Brooklyn "Daily Eagle"
published a lengthy article saying that additional
private property would have to be acquired to facilitate
the construction and operation of the proposed subway, and that this would add many millions to its
cost. The original estimate of building the subway
as far as 43d Street, Brooklyn, was $15,000,000.
The appropriation was $23,000,000, and it was thought
this would pay for the cost of the extensions to Coney
Island and Fort Hamilton. Now, according to
the "Eagle," it is estimated by officials that the
actual cost will be much nearer $50,000,000 than the
$23,000,000 set aside for the improvement. All
this is in accord with the experience in other similar
cases, and accordingly we may take it for granted
that the ultimate cost of subways, allowing for stations and terminals, would be nearer $3,000,000 per
mile than $1;500,000. This would make the assessment $300 per lot, or $900 for three lots and $1,500 for
five lots, and would call for payments of $90 and $150
per year, respectively, instead of the $15 with which
we started.
The road, however, yet remains to be equipped.
There must be cars and motive power and powerhouses and wires, boilers, engines, with apparatus for
signaling and ventilation and various other accessories. All this is very expensive. In the event that
the city could find some one to take the contract to
operate the road, the property holder would not be assessed for the same. But with the promiscuous building of subways out into thinly settled suburbs, the
chance that capitalists could be found to pay the rental
required under the statute would become very slim.
Accordingly, the city itself would have to supply the
equipment and assess the property benefited for the
same. Foubtless the equivalent of another $1,500,000
per mile would be required for the purpose. Adding
this on, we have a possible assessment of $450 per 20foot lot, $1,350 for three lots and $2,250 for five lots,
requiring annual payments, respectively, in the last
two instances, of $135 and $225. In all this no allowance has been made for the interest to accrue on the
bonds during the period of construction, which, under
the city's slow methods, might be indefinitely prolonged. The law distinctly provides that bonds for
this may be issued and the property benefitted assessed therefor.
Lest some one may think we are exaggerating, we
will note that Section 37 of the law, in speaking of the
issue of bonds by the city, says that such bonds may
be issued "for the purpose of providing the necessary
means for such construction or equipment, or both, as
the case may he, or acquiring by purchase, at the public expense, of any such road or roads, or of galleries,
ways, subways and tunnels for sub-surface structures,
and the necessary means to pay for lands, property,
rights, terms, privileges and easements, whether of owners, abutting owners or others, which shall be acquired
by the city for the purposes of the construction or the
operation of such road or roads as hereinafter provided, and of meeting the interest on the bonds in
this section hereinafter provided for accruing thereon
prior to the completion and readiness for operation of
the portion of such road or roads," &c., &c.
It is also to be noted that the law does not contemplate merely a single assessment to be levied all at one
issue
185
time. Indeed, the most serious feature from the standpoint of the property owner is that he cannot tell how
many assessments he may he called upon to pay. After
he has had his first assessment, others may follow as
additional outlays are incurred. Subdivision 6 of
Section 37 speaks of "the entire amount or amounts
from time to time so assessed against any property
benefited," &c.
In referring above to possible assessments of $450
per lot (or more) to which the property owner makes
himself liable in petitioning to be assessed for the building of subways, and of assessments of $1,350 for three
lots and $2,250 for five lots, involving yearly payments respectively of $135 and $225, our calculation
has been on the basis of a flat assessment alike for all
the property lying within a half mile on either side of
the road. As a matter of fact, however, the assessments will vary according to distance from the
subway, those lying nearest paying most and those
furthest away least. This means that some property
would pay considerably less than the figures given,
but it also means that other property would pay a
great deal more—that is, even more than the $450
per 20-foot lot.
But many suburban lots are not worth more than
$500 a lot, and not a few can be bought for considerably less than that. This brings up the question
whether such heavy assessments, which might approach confiscation, would be permissible under the
law. The framers of the Rapid Transit Act made
provision for this very contingency, making it evident
that they contemplated the situation we have
outlined by the figures above. In the levying of assessments for ordinary improvements, such as sewers,
street pavements, &c., the city is limited to assessments not to exceed one-half the value of the property
assessed. The Rapid Transit Act, however, provides
that for the purpose of rapid transit assessments the
city "shall not be limited in the levying of said assessment or assessments to one-half of the fair value of
any house or lot or improved or unimproved land."
The property owner, therefore, may be assessed to the
full value of his property or even more. Altogether,
it is clear that both the city and the property owner
should go slow about entering upon the construction
of rapid transit roads on the assessment plan.
FOREIGN TRADE OF UNITED STATES 1909-10.
A noteworthy expansion in our merchandise imports
during almost every month as contrasted with a
comparatively restricted outward movement of goods,
is the feature of the completed figures of the foreign
trade of the United States for the fiscal year ended
June 30 1910. The net result is a smaller balance
in our favor on the merchandise movement than in
any year since 1895-96. Following the financial crisis
in the fall of 1907, merchandise imports, it will be
remembered, showed a very important shrinkage
month by month,and for the fiscal year 1907-08 there
was a decrease in the aggregate of 240 millions of
dollars as compared with 1906-07. Exports, on the
other hand, did not exhibit any declining tendency
until March 1908, and for the twelve months the loss
was only 20 millions. As a consequence,the net export balance for 1907-08 was the largest in our history.
The following year (1908-09), however, the situation
WaS reversed. With improvement in the business
186
THE CHRONICLE
and industrial affairs of the United States there was
a very noticeable increase in imports, to replenish
stocks of foreign merchandise that had become appreciably depleted, while depression abroad, coupled
with high prices and short supply of our leading cereals,
operated considerably to curtail the volume of exports. The result was a very large diminution in the
country's net export balance.
In the fiscal year lately ended an increase over
1908-09 in the volume of merchandise exports is to be
noted, but only a very moderate one-82 millions of
dollars. The aggregate outflow, moreover, covered a
value more than a hundred millions less than in either
1907-08 or 1906-07 and only a million greater than in
1905-06. In contradistinction, imports exhibited a
very important augmentation, exceeding 1908-09 by
246 millions, and showing a gain over the previous
record total (that of 1906-07) of 123 millions. Nor
is that all; in four of the twelve months of the year
exports were actually less than the imports, and in
March the balance against us (1914 millions) was
greater than in any month since April 1897. The
total foreign trade of the country for 1909-10, of
course, at 3,302% millions of dollars, shows a very
appreciable increase over either of the two preceding years, and closely approximates the record
result of 1906-07; but, as augmented imports account
for that outcome almost wholly, the favorable or net
export balance for 1909-10 is, as already stated, the
lowest since 1895-96.
High prices as well as comparatively short supply,
as in the case of our cereals, accounts for the decreased
outflow of some of our commodities; but it is to be
noted that while the quantity of cotton sent out during
the last fiscal year was nearly 28% less than in 1908-09,
it represented a value almost 8% greater than in that
year. To indicate fully the changes in our foreign
trade movement we append a compilation showing the
imports, exports and balances of merchandise, month
by month and quarter by quarter, and quarterly results for gold and silver, for the last two fiscal years.
The statement will, we believe, repay perusal.
FOREIGN TRADE MOVEMENT IN 1909-10 AND 1908-09.
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[VOL. Lxxxxi.
It will be seen that the total value of merchandise
exports for the twelve months of 1909-10 was $1,744,966,203, against $1,663,011,104 for 1908-09, and
that the imports for the corresponding periods were
$1,557,854,854 and $1,311,920,224 respectively, leaving, therefore, a net export balance of only $187,111,349 in 1909-10, which compares with $351,090,880 in
1908-09 and the record net outflow of $666,431,554 in
1907-08.
Shipments of breadstuffs were in the aggregate
appreciably less, having reached only $132,700,000,
against $159,929,221 in 1908-09 and $215,260,588 in
1907-08; in fact, in only three years of the last twenty
were the totals lower than now recorded. Decreases in
quantity sent out in 1909-10 were in a measure offset
by higher prices obtained, the average value of wheat
shipments having been $1 02% per bushel, against
$1 01 7-10 a year ago, 99.4c. in 1907-08 and only
78.7c. in 1906-07. Flour likewise averaged higher,
the 1909-10 value per barrel having been no less than
3 ,as compared with $4 86X in 1908-09, $4 60%
$5 27%
in 1907-08 and $3 99 in 1906-07. Corn was shipped
a little more freely than in 1908-09, but exports were
conspicuously small as contrasted with many earlier
years. The year's average price at 69c. per bushel,
while fractionally lower (1.3c.) than in the previous)
year, showed an important gain over 1907-08 (64.7c.)
and 1906-07 (53.1c.). The outgo of provisions
shows a further important shrinkage in value and the
aggregate,at $130,800,000,is the lowest for any fiscal
year since 1888-89. Cotton shipments, on the other
hand, while recording a heavy diminution in quantity,
covered a value much greater than in 1908-09, or in
fact of any year in our history except 1906-07. The
average value in 1909-19 was 14.05c. per lb., against
only 9.38c. in 1908-09 and 11.47c. in 1907-08. The
6,063,000 bales exported in 1909-10 had a value of
$450,500,000, whereas in the previous season 8,577,728
bales brought only $417,390,665, and two years ago
7,434,580 bales represented a return of $437,788,202.
Exports of petroleum at 1,425,000,000 gallons, valued
at $92,000,000, were moderately less than the record
figures of the previous year (1,458,483,303 gallons and
$105,999,637), with the decline proportionately greatest in the value, owing‘ to the lower average price
received. •The four leading items of exports (breadstuffs, cotton, provisions and petroleum) furnish a
total value of $806,000,000, or $43,841,472 less th.an
the same articles covered in 1908-09, leaving 939
millions of dollars as the measure of the shipments
of all other commodities in 1909-10, an aggregate never
before reached and 126 millions larger.than a year ago.
Figures for the other articles of export, however, for
the full fiscal year will not be available until about the
close of July. A study of the returns for the eleven
months reveals large gains in crude materials for use in
manufacturing, in manufactures in a partly finished
state and in manufactures ready for use. Iron and
steel manufactures, for instance, exhibit an increase
millions of dollars, wood and manufactures
of 31
10 millions, furs and fur-skins 532 millions, naval
stores 33' millions, automobiles 4 millions, and Smaller
gains are shown in India-rubber and manufactures,
cotton manufactures, chemicals, coal, paraffin fruits,
and nuts, &c. The articles recording losses, other
than the leading staples already referred to, are comparatively few in number and the amounts generally
small. The most important losses are 7 millions in
oil-cake and 6 millions in vegetable oils.
A particularly notable feature of our export trade
of recent years has been the development of the iron and
steel manufacturing industry. As late as 1894-95
our imports of these articles exceeded the exports by
3 millions; now (in 1909-10) the balance for the eleven
months is the other way by 127 millions. Concurrently, production of pig iron has steadily advanced
here and the United States is now by far the world's
largest producer.
Among articles of import the expansion in 1909-10
over 1908-09 has been very general and, as in exports,
largely in manufactures or manufacturers' materials.
It would require too much space to go through the
entire list and particularize, but some of the more important increases may be mentioned. In India-rubber,
&c., and manufactures, part of the augmentation of
421A millions of dollars for the eleven months for
which we have returns is owing to the rise in prices;
but the same is not true to any very appreciable extent
of the gain of 36 millions in hides and skins, 19 millions
in diamonds and other precious stones, 153/ millions
in iron and steel and manufactures, 10 millions in
chemicals, 10 millions in wood and manufactures, 11
millions in wool, and the smaller increases in sugar,
cotton and manufactures, fibres and manufactures,
woolen manufactures, seeds and numerous other
articles. Silk and coffee alone of the leading items
of importation show decreases as compared with
1908-09 and the falling off of 113 millions in the first
named is explained by the unusually heavy inflow in
the previous year, which was directly ascribable to
the low prices then ruling.
With our merchandise balance so largely reduced,
the gold movement of the year has been heavily
against us, exports having reached $118,563,215,
the largest in amount of any year in the record, and
exceeding those of 1908-09 by 27 millions. Gold imports, on the other hand, have been comparatively
moderate. The net gold outflow, therefore, reaches
a large aggregate ($75,223,310), the largest since
1895-96, and exceeding 1908-09 by nearly 28 millions.
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 reference and as a matter of record.
VALUE OF IMPORTS AND EXPORTS OF MERCHANDISE FROM 1891 TO
1909, INCLUSIVE.
Merchandise.
Year ending
June 30.
Excess of Exports
Or
Exports.
Imports.
Imports.
Total Imports
and
Exports.
$
835,747.785 Exp.
817,496,397 Exp.
854,405,176 Imp.
647,775,017 Exp.
731,969,965 Exp.
$
$
48,594,099 1,720,089,669
212.397,086 1,847,389,880
7,126,451 1,701,683,901
244,132,692 1,539,682,726
75,568,200 '1,539,508,130
Total 5 years___ 4,460,959,966 3,887,394,340 Exp.
Average
892,191,993 777,478,868 Exp.
573,565,626 8,348,354,306
114,713,125 1,669,670,861
1891
1892
1893
1894
1895
1896
1897
1898
1899
1000
$
884.341,884
1,029,893,483
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
779,724,674 Exp.
764,730,412 Exp.
616,040,654 Exp.
697,148,489 Exp.
849,941,184 Exp.
102,882,264
286,263,149
615,432,676
529,874,813
544.541,898
1,662,331,612
1,815,723,968
1,847,531,984
1.924,171,791
2,244,424,266
Total 5 years__ 5,786,589,208 3,707,594,413 Exp. 2,078,994,795 9,494,183,621
1,157,317,842 741,518,883 Exp. 415,798,959 1,898,836,724
Average
1901
1902
1903
1904
1905
1,487,764,991 823,172,165 Exp.
1,381,719,401 903,320,948 Exp.
1,420.141,679 1,025,719,237 Exp.
1,460,827,271 991,087,371 Exp.
1,518,561,666 1,117,513,071 Exp.
664,592,826
478,398,453
394,422,442
469,739,900
401,048,595
2,310,937,156
2,285,090,349
2,445,860,916
2,451,914,642
2,636,074,737
Total 5 years— 7,269,015.008 4,860,812,792 Exp. 2,408,202,216 12,129,827,80(
1,453,803,002 972,162,558 Exp. 481,640.444 2,425,965,56(
Average '
1906
1907
1908
1909
1910
1,743,864,500 1,226,562,446 Exp.
1,880,851,078 1,434,421,425 Exp.
1,860,773,346 1,194,341,792 Exp.
1,663,011,104 1,311,920,224 Exp.
1,744,966,203 1,557,854,854 Exp.
517,302,054
446,429,653
666,431,554
351,090,880
187,111,349
2,970,426,941
3,315,272,501
3,055,115,131
2,974,931,321
3,302,821,051
Total 5 years— _ 8,893,466,231 6,725,100,741 Exp. 2,168,365,490 15,618,566,97
1,778,693,246 1,345,020,148 Exp. 433,673,098 3,123,713,399
Average
Note.—The foregoing figures are exclusive of gold and silver in ore exported and
imported, which we include in gold and silver.
187
THE CHRONICLE
JULY 23 1910.]
GOLD AND SILVER MOVEMENT.
Silver.
Gold.
Year
ending
June 30. Exports,
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901 ___
1902 ___
1903
1904
1905 _-1906 ___
1907 ___
1908 ___
1909
1910
Excess of
Imports. Exports (+) Exports.
or Imports(—)
86,362,863 18,447,370 +67,915,493
+259,573
50,208,331 49,948,758
108,697,451 22,069,380 +86,628,071
76,995,130 72,989,563 +4,005,567
66,468,481 36,384,760 +30,083,721
112,409,947 33,525,065 +78,884,882
40,361,580 85,014,780 —44,653,200
15,406,391 120,391,674 —104,985,283
37,522,086 88,954,603 —51,432,517
48,266,759 44,573,184 +3,693,575
53,185,177 66,051,187 —12,866,010
48,568,950 52,021,254 —3,452,304
47,090,595 44,982,027 +2,108,568
81,459,986 99,055,368 —17,595,382
92,594,024 53,648,961 +38,945,063
38,573,591 96,221,730 —57,648,139
51,399,176 114,510,249 —63,111,073
72,432,924 148,337,321 —75,904,397
91,531,818 44,003,989 +47,527,829
118,563,215 43,339,905 +75,223,310
Imports.
Excess
of
Exports.
I $
22,729,705 26,980,488 84,250,783
33,182,220 29,611,8471 3,570,373
41,107,181 34,293,999, 6,813,182
50,667,059 19,965,713 30,701,346
24,295,286 20,211,179 27,084,107
60,541,670 28,777,186 31,764;484
81,948,638 30,533,227 31,413,411
55,105,239 30,927,78124,177,458
56,319,055 30,675,056 25,643,999 •
56,712,275 35,256,302 21,455,973
64,285,18006,386,521127,898,559
49,732,39028,232,25421,500,136
44,250,259i24,163,49120,086,768
49,472,70227,768,814121.703,888
48,848,81227,484,865121,363,947
85.869,06344,442,54021,426,523
56,739,073 42,946,624113,792,449
57,921,202 44,658,097 13,263,105
55,682,792 43,954,81G.11,727,982
55,286,861 45,217,194110,069,667
Note.—Gold and silver In ore, exported or Imported, are included in the above.
a Figures for 1909 are not final, and are subject in all cases to slight corrections
when later returns are received. b This Is an excess of imports.
VALUE OF BREADSTUFFS EXPORTS.
FiscalYear
ended
June 30.
Wheat
Wheat.
Flour.
Total
Wheat
and Flour.
Corn.
Total Wheat
Corn
and Flour.
Total an
Breadstuffs.
$
51,420,272 54,705,616 106,125,888 17,652,687 123,778,575 128,121.656
161,399,132 75,362,283 236,761,415 41,590,960 278,351,875 299,363,117
93,534.970 75,494.347 169,029,317 24,587,511 193,616,828 200,312,654
59,407,041 69,271,770 128,678,811 30,211,154 158,889,965 166,777,229
43,805,663 51,651,928 95,457,591 14,650,767 110,108,358 114,604,780
39,709,868 52,025,217 91,735,085 37,836,862 129,571,947 141,356,993
59,920,178 55,914,347 115,834,525 54,087,152 169,921,677 197,857,219
145,684,639 69,263,718 214,948,377 74,196,850 289,145,227 333,897,119
104,269,169 73,093,870 177,363,039 68,977,448 246,340,487 273,999.699
73,237,080 67,760,886 140,997,966 85,506,400 226,203,366 262,744,078
96,771,743 69,459,296 166,231,039 82,527,983 248,759,022 275,594,618
112,875,222 65,661,974 178,537,196 16,185,673 194,722,869 213,134,344
87,795,104 73,756,404 161,551,508 40,590,637 202,092,145 221.242,285
35,850,318 68,894,836 104,745,154 30,071,334 134,816,488 149,050,378
3,905,579 40,176,136 44,081,715 47,496,921 91,528,636 107,732,910
28,757,517 59,106,869 87,864,386 62,061,856 149,926,242 186,468,901
60,214,388 62,175,397 122,389,795 44,261,816 166,651,611 184,120,702
99,736,767 64,170,508 163,907,275 33,992,197 197,849,472 215,260,588
68,094,447 51,157,366 119,251,813 25,194,466 144,446,279 159,929,221
47,805,000 47,620,000 95,425,000 25,000,000 120,425,000 132,700,000
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1008
1009
1910 a__
a Figures for 1910 are not final, and are subject In all cases to slight corrections
when later returns are received.
EXPORTS OF LEADING STAPLES—COTTON, BREADSTUFFS,
PROVISIONS AND PETROLEUM.
Fiscal
Year
ending
June 30.
Breadstuffs.
Cotton.
Proviskms
and Dairy Petroleum.
x
Products.
Total
Four
Staples.
Total
AU
Exports.
$
t
$
$
$
$
1891 ___ 128,121.656290,712,898139,017,471 52,026,734 609,878,759 884,341,884
1892.__ 299,363,117258,461,241 140,362,159 44,805,992742,992,509 1,029,893,483
1893 ___ 200,312,654 188,771,445 138,401,591 2,142,0 8569,627.748 847,278,725
1894 ___ 166,777,229210,869.289145,270,643 41,499,806564,416,964891,907,709
1895 ___ 114,604,780204,900,990 133,634,379 46,660,082499,800,231 807,538,165
1896 ___ 141,356,993 190,056,460131,503,500 62,383,403525,300,446 882,606,938
1897 ___ 197,857,219230,890,971137.138,084 „ , 28, 21,311 1,050,993,556
1898 __ _ 333,897,119230,442,215 167,340,960 56,125,578787,805,872 1,231,482,331
1899 —_ 273,999,699,209,564,774 175,508,608 56,273,168715,348,2491,227,023,302
1900 _ 262,744,078241,832,737 184,453,055 75,611,75 764,641,62 1,394,483,082
1901 __ 275,594.618313,673.443 196,959,637 71,112,788857,340.486 1,487,764,991
1902 ___ 213,134,344290,651,819 199,861,378 72,302,822775,950.3631,381.719,401
1903 ___ 221,242,285,316,180,429 179,839,714 67,253,533784,515,961 1,420,141,679
1904 _ 149,050,378370,810,246176,027,586 79,060.469774.948,679 1,460,827,271
1905 _ 107,732,910379,965,014 169,999,685 79,793,222737.490,831 1,518,561,666
1906 ___ 186,468,901'4
210,990,065 84,041,327882,506,214 1,743,864,500
0 1
,..
1907 _ _.184,120,702'01,277,797202,392,508 84,855,715952,646,722 1,880.851.078
1908 ___ 215,260,588'437,788,202 192,802,708104,116,440949,987,938 1,860.773,346
1909 __ 159,929,2211,417,390,665 166,521,949 105,999,637 849,841,472 1,663,011,1011
1910 a_ _ 132,7,000
450,500,000 130,800,000 92,000,000806,000,000 1.744,966,203
00
a Figures for 1910 are not final,and are subject in all cases to slight corrections
when later returns are received.
x Including both crude and refired, and also residuum.
COTTON AND PETROLEUM EXPORTS BY QUANTITIES.
Cotton Exports.
Year ending June 30.
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910_a
Bales.
Pounds.
5,820,779
5,891,411
4,431,220
5,397,509
6,965,358
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
8,337,964
7,050,856
8,708,469
7,434,580
8,577,728
6,063,000
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
3,509,778,763
3,543,043,022
3,063,912,760
4,304,848,903
3,634,045.170
4,518,217,220
3,816,998,693
4,447,985,202
3,206,000,000
x Petroleum,
Gallons.
708,q20,777
714,808,479
803,680,186
968,041,306
884,364,574
890,254,034
967,525,242
1,014,276,272
919,044,718
950,623,155
1,008,947,394
1,075,899,960
941,156,856
961,860,345
1,074,384,814
1,182,917,221
1,185,202,449
1,372,955,746
1,458,483,303
1,425,000,000
a Figures for 1910 are not final, and are subject In all cases to slight corrections
when later returns are received.
x Includes both crude and refined, but not residuum, the exports of the latter
being very small.
188
THE CHRONICLE
IIREADSTUFFS EXPORTS BY QUANTITIES.
Year
ended
June 30.
1891
1892
1893
1894
1895
1896
1897
1898
1899
1900
1901
1902
1903
1904
1005
1906
1907
1908
1909
1910a
Wheat.
Bushels.
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
101,950,389
132,060,667
154,856,102
114,181,420
44,230,169
4,394,402
34,973,291
76,509,423
100,371,057
66,923,244
46,700,000
Avge.
per
bush.
Flour.
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
0.822
0.787
0.994
1.017
1.026
Barrels,
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
13,919,048
15,584,667
13,927,247
10,521,161
9,200,000
Avge.
Total
per
Wheat
bbl. and Flour.
Corn.
Bushels.
Bushels.
4.822 106,181,316 30,768,213
4.959 225,665,810 75,451,849
4.542 191,912,634 46,037,274
4.109 164,283,119 65.324,841
3.383 144,714,146 27,691,137
3.558 126,443,968 99,992,835
3.849 145,088,972 176,916,365
4.512 217,306,004 208,744,939
3.954 222,618,420 174,089,094
3.624 186,090,564 209,348,284
3.724 215,990,073 177,817,965
3.697 234,772,515 26,636,552
3.748 202,906,273 74,833,237
4.053 120,727,613 55,858,965
4.547 44,162,409 88,807,223
4.246 97,609,007 117,718,657
3.990 146,640,424 83,300,708
4.608 163,043,668 52,445,800
4.862 114,268,468 35,853,412
88 100 000 36,250,000
5.274I"
Avge.
Per
bush.
$
0.570
0.500
0.534
0.462
0.529
0.378
0.306
0.355
0.397
0.407
0.464
0.608
0.542
0.538
0.534
0.527
0.531
0.647
0.703
0.690
a Figures for 1910 are not final, and are subject in all cases to slight corrections
when later returns are received.
[VoL. Lxxxxz
ceding. The gain over last year reaches no less than
$31,983,394,or 16.25%. The augmentation in expenses,
however, still continues the most conspicuous feature.
Of the $31,983,394 gain in gross, no less than $26,756,567 was consumed by augmented expenses. It follows that only $5,226,827 was saved for the net. Here
are the totals for the month.
May (725 roads)Miles of road
Gross earnings
Operating expenses
Net earnings
-Increase or Decrease1910
1909
Amount.
229.345
225,274 Inc.
4,071
1.80
$230,033,384 $198,049,990 Inc. $31,983,394 16.25
159,949,214
133,192,647 Inc. 26,756,567 20.09
_
$70,084,170 $64,857,343 Inc. $5,226,827
8.06
For not a few leading roads the result as to net is
poorer than is here disclosed by the general totals,
there being an actual loss in net in such instances-not
merely a small increase. Before dealing, however,
with the figures of the separate roads, we wish to point
out that, speaking of the roads collectively, the present
year's improvement, in gross and net alike, follows
improvement last year. In 1908, on the other hand,
at the time of the great prostration of all industrial
interests following the financial upheaval of the previous year there was a tremendous shrinkage in both
gross and net earnings. Our own compilation for May
last year recorded $26,226,645 increase in gross and
$14,901,120 increase in net. This covered 220,514
miles of road. Some time later the Inter-State Commerce Commission made public totals covering 234,110
miles, and these recorded $27,044,934 increase in gross
and $15,131,201 increase in net. In May 1908 our
compilations showed a contraction in gross earnings
in the enormous sum of $38,537,942 and a shrinkage
in net of $12,845,751. This, however, did not indicate the full extent of the shrinkage at that time.
Owing to the circumstance that the roads were doing
so poorly and coniparisons were so extremely bad,
some important companies withheld their returns,
and consequently our aggregate covered only 153,310
miles of line. A table we presented covering gross
alone gave a loss in gross of $15,034,243 for 185,897
miles of road. Careful computation which we made
later in the year led us to the conclusion that the loss
in gross in May 1908, including all the roads in the
country, must have been,roughly,$55,000,000 and the
loss in net $18,000,000. In the following we show
the • May comparisons for each ytar back to 1896.
For 1909 we use the Inter-State Commerce totals,
but for preceding years we give the results just as registered by our own tables each year-a portion of the
railroad mileage of the country being always unrepresented in the totals, owing to the refusal of some of
the roads to furnish monthly figures for publication.
RAILROAD GROSS AND NET EARNINGS FOR
MAY.
Our compilations of the earnings of United States
railroads for the month of May reveal the same characteristics as the returns for the months preceding.
By this we mean that the showing is very satisfactory
as far as gross revenues are concerned, indicating a
large volume of traffic and continued activity in trade,
but that it is somewhat disappointing as far as the net
results are concerned, owing to the great augmentation in expenses which has been taking place. There
is no actual loss in net, speaking of the roads as a
whole; hut though there is an increase, this increase is
relatively small and is not commensurate with the
additions to capitalization in the shape of new stock
and bond issues which the carrying companies have
been obliged to make in order to provide for the gradually expanding volume of business. It is in part to
meet the great augmentation in expenses that railroad
managers desire to raise rates. From this week's action of the railroads in their conferences with the Int3r-State Commerce Commission, it is evident that the
proposed advances in rates are to be still further deferred, the railroads in order to save the Commission
the necessity of formally suspen,ding the various higher
schedules having agreed voluntarily to. withdraw
them and hold them in abeyance until Nov. 1. In
the meantime the increases in wages promulgated
early in the year continue in effect, and new wage
schedules are being announced from time to time, as
witness the recent award on Southern roads, earlying advances effective July 1, with further advances
to be made next April.
Our compilations to-day are based upon the returns
of earnings which the roads are obliged to file with the
Inter-State Commerce Commission at Washington
Net Earning,.
each month. In the monthly number of our "Railway
Gross Earnings.
Year.
Year
Year : Increase or
Year
Increase or
Year
Earnings Section," which accompanies to-day's issue
Given.
Given.
Preceding. Decrease.
Decrease.
Preceding.
----------------------of the "Chronicle," will be found the detailed reports --$
May.
$ I
s
s
$
3
+8,789 13,861,785 14,878,919 -1,017,164
1896- 50,138,6,15 50,129,856
of earnings and expenses of all the separate roads. In 1897
__- 57,420,309 55,568,910 +1,851,393 16,795,849 14,615,804 +2,180,045
1898 ___ 67,659,828 59,034,144 +8,625,681 20,820,846 17,335,134 +3,485,712
the present article we deal with the summaries derived 1899
_ 72,431,677 67,675,074 +4,756,603 23,287,947 20,883,314 +2,404,633
1900 ___ 81,058532 72,885,306 +8,173,226 24,808,411 23,310,286 +1,498,125
from these statements of the separate roads. It is 1901 ___ 97,147,152 85,860,170 +11,286,982 31,083,780 20,283,210 +4,800,576
1902 ___ 95,860,907 90,091,128 +5,7139,779 29,779,428 28,640,038 +1,139,390
103,882,990 90,800,791 -1.13,082.199 33,980,575 28,937,381 +5,043,194
needless to say that the results are very comprehen- 1903-1904 ___ 108,565,266 111,028,554 -2,463,288 31,807,808 34,801,674 -2,993,868
1905 ___ 121.005,979 109,872,115 +11,133,864 36,265,119 32,691,936 +3,573,183
sive, since every operating steam railroad in the United 1906
___ 115,304,505 105,787,062 +9,517,444 34,414,213 10,946,848 +3,467,365
1907 ___ 144,267,760 121,074,989 +23,192,776 43,765,836 .17,319,290 +6,446,546
States is required to render monthly reports to the 1908
___ 133,680,555 172,218,497 -38,537,912 :38,0711,927 50,922,678 -12,845,751
1909 ___ 201.572,072 174,527,138 +27,044,91.1 65,725,770 50,594,569 +15,131,201
Commission-barring those few lines operating en- 1910
___ 230.033,389 193,049,999 +31,933,391 70,084,170 61,857,343 + 5,226,827
tirely within State boundaries. Altogether, we have
Note.-Includes for May 118 roads in 1806: 128 in 1897; 127 In 1898; 123 in
128 in 1900; 116 In 1901; 109 In 1902; 101 In 1903; 103 in 1904; 100 In 1905;
figures covering 725 companies, comprising an aggre- .1899;
96 in 1906; 92 in 1907; 101 in 1908; 724 in 1909; 725 In 1910. Nelther the Alexiroads nor the coal-mining operations of the anthracite coal roads are Included
gate of 229,345 miles of line, or about 97% of the rail- -can
in any of these totals.
road mileage of the country.
As an indication of the way some of the separate
In the gross revenues the comparison may be said companies have suffered by reason of the great into be even better than for the month immediately pre- crease in expenses, we may note that the Atchison
JULY 23 1910.]
Topeka & Santa Fe, which has been conspicuous in
that respect in previous months, is again conspicuous
in the same way; the company gained $1,021,542 in
gross but lost $287,791 in net. Many other roads
in the Southwest have a similar story to tell. On the
Rock Island the gain in gross reached only $190,497;
hence, owing to the large increase in expenses, this
company falls no less than $715,682 behind in net.
The St. Louis & San Francisco gained $180,565 in
gross and has a decrease of $189,146 in net. The Missouri Kansas & Texas, while having added $113,467
to its gross, has lost $171,044 in net.
Some of the roads in the Middle West this time also
have poor exhibits of net, and doubtless the strike in
the bituminous coal regions of Illinois had something
to do with this. The Illinois Central belongs in that
class; it gained $254,050 in gross, but suffered a decrease of $486,680 in net. The Chicago & Alton falls
$26,389 behind in gross and $181,450 in net. The
trans-continental lines, more particularly the Southern
Pacific, the Union Pacific and the Great Northern,
make much better exhibits of net than heretofore.
On the other hand, the great East and West trunk
lines, like the Pennsylvania and the New York Central,
continue to reflect the prominent part played by increasing expenses in the affairs of our leading systems.
Thus the Pennsylvania Railroad on the lines directly
operated east and west of Pittsburgh reports $3,354,324
increase in gross, with only $84,731 increase in net;
taking all lines owned, leased, operated and controlled
by the Pennsylvania, there is $4,120,841 increase in
gross, with only $250,600 addition to net. The New
York Central has $901,499 increase in gross, with
$76,056 increase in net. This covers the New York
Central itself. Including the various auxiliary and
controlled roads, the improvement for the month
reaches $2,720,240 in gross, but only $9,563 in net.
The following shows all changes for the separate
roads for amounts in excess of $100,000, whether increases or decreases, both in the gross and in the net.
In the case of the gross, it will be observed; there is
only one decrease above the amount named-that of
$394,714, by the San Pedro Los Angeles & Salt Lake,
part of whose line was closed by floods; in the case of
the net there is quite an extensive list of decreases.
PRINCIPAL CHANGES IN GROSS EARNINGS IN MAY.
Increases.
143,354,324
Pennsylvania
1,698,443
Baltimore & Ohio
1,535,365
Southern Pacific
1,434,461
Great Northern
1,107,419
Northern Pacific
Duluth & Iron Range- _ 1,037,012
Atch Topeka & Santa Fe 1,021,542
986,851
Union Pacific
NY Central & Hud River a901,499
880,428
Louisville & Nashville_ - _
802,923
Chicago & North West760,837
Duluth Missabe & Nor_ 752,070
Philadelphia & Reading_
738,618
Chicago Milw & St Paul_
c716,423
Missouri Pacific
677,903
Chicago Burl & Quincy
629,498
N Y N II & Hartford_ __ 626,094
Southern Railway
565,253
Lake Shore & Mich Sou__
531,021
Norfolk & Western
436,472
Pittsburgh & Lake Erie..
350,585
Central of New Jersey_ - _
350,014
Lehigh Valley
270,888
Boston & Maine
264,109
Atlantic Coast Line
260.165
Del Lack & Western_ __ _
259,578
Hocking Valley
254,050
Central
Illinois
c250,079
Chicago Great Western
239,411
Colorado & Southern_ __ _
218,314
Erie
206,426
Minn St Paul & S S M
195,433
Seaboard Air Line
195,346
Denver & Rio Grande_
Cleve Chic Chic & St L__
Rock Island
Michigan Central
Wabash
Wisconsin Central
St Louis & San Fran_ _ _ _
Pere Marquette
Bessemer de Lake Erie..
Mobile & Ohio
Phila Balto & Wash_ __ _
Buffalo Rochester & Pitts
Chic St Paul Minn & Om_
Spokane Port & Seattle..
Chesapeake & Ohio
Cin New Orl & Tex Pac_ _
Oregon & Washington_ _
Yazoo & Miss Valley_ _
Cin Ham & Dayton
Texas & Pacific
Kansas City Southern_ _ _
Vandalla
Long Island
Missouri Kansas & Texas
N Y Ont & Western_ _ _ _
Toledo & Ohio Central__
Wheeling Zs Lake Erie__
International 8: Gt Nor.._
Increases.
$190,992
190,497
189,790
186,877
184,720
180,565
175,125
172,451
170,924
167,123
166,215
157,339
156,830
156,072
147,676
144.355
139,690
131,456
125,429
117,627
116,981
113,809
113,467
111,429
109,797
108,998
105,626
Representing 61 roads
in our compilation_ 428,540,714
San Ped Los A & S Lake_
Decrease.
$394,714
Note.-All the figures in the above are on the basis of the returns filed
with the Inter-State Commerce Commission. Where, however, these returns do not show the total for any system, we have combined the separate
roads so as to make the results conform as nearly as possible to those given
In the statements furnished by the companies themselves.
a These figures cover merely the operations of the New York Central Itself.
Including the various auxiliary and controlled roads, like the Michigan Central, the Lake Shore, the "Big Four," the "Nickel Plate," &c., the whole going to form the New York Central System, the result is a gain of $2,720,240
in gross and a gain of $9,563 in the net.
189
THE CHRONICLE
C These figures are furnished by the company.
V These figures represent the lines directly operated east and west of
Pittsburgh. Eastern lines showing $1,737,511 Increase and the Western
lines $1,616,813. For all lines owned, leased, operated and controlled, the
result for the month is a gain of $4,120,844 in gross; in the net the Eastern
lines showed $58,261 decrease and the Western lines $142,992 increase.
For all lines owned, leased, operated and controlled, the net result for the
month is a gain of $250,600.
PRINCIPAL CHANGES IN
Increases.
Southern Pacific
$762,753
Duluth Miss & Northern_
660,600
Missouri Pacific
c554,549
Phlla & Reading
518,213
Union Pacific
438,320
Great Northern
423,374
Baltimore & Ohio
305,110
Central of New jersey.._
276,690
Denver & Rio Grande_ _ _
238,857
Pittsburgh & Lake Erie_
232,964
Duluth & Iron Range
222,316
Chicago Burl & Quincy
208,291
Southern Railway
204,873
Chic Milw & St Paul.....
167,726
Lehigh Valley
164,786
Northern Pacific
135,261
Minn St Paul & S S M
128,401
Hocking Valley
116,909
International & Gt Nor_ _
111,440
Norfolk 80 Western
106,932
Chicago Great Western_ _
c106,078
Seaboard Air Line
105,340
NET EARNINGS IN MAY.
Increases.
$102,494
Colorado & Southern_ ___
Representing 23 roads
In our compilation__ $6,292,277
Rock Island
Illinois Central
San Ped Los A & S
Atch Topeka & Santa Fe
Cleve Cinc Chic & St L_ _
Lake Shore & Mich Sou...
St Louis & San Francisco
Chicago & Alton
Missouri Kan & Tex_ _ _ _
Central of Georgia
St Louis Southwestern_ _
Buffalo Roch & Pittsb
Decreases.
$715,682
486,680
395,925
287,791
209,494
199,137
189,146
181,450
171,044
118,691
116,059
100.754
Representing 12 roads
in our compilation__ $3,171,853
c These figures are furnished by the company.
Classifying the roads in groups or geographical
divisions, as is our custom, we find that every section
records a gain in gross, but that one of the divisions
shows a loss in net; in two other groups, while there is
an increase in net, the increase is very small. The
geographical section having a loss is that composed
of groups 8 and 9, comprising the roads in the Southwestern part of the country. The result by groups is
set out in the table which we now present.
SUMMARY BY GROUPS.
-Gross EarningsInc.(4-) or
1910.
1909.
Dec.(-).
May$
$
$
10,978,386 9,899,186 +1,079,200 10.90
Group 1(29 roads) New England
56,761,168 49,083,880 +7,677,288 15.64
Group 2(133 roads) East and Middle
32,697,910 27,525,995 +5,171,915 18.79
Group 3(99 roads) Middle West
27,598,802 23,579,709 +4,019,093 17.05
Groups 4 and 5(143 roads) Southern
Groups Sand 7(110 roads) Northwest_ 52,372,859 44,101,451 +8,271,408 18.75
Groups 8 and 9(155 roads) Southwest_ 34,771,033 31,289,524 +3,481,509 11.12
14,853,226 12,570,245 +2,282,981 18.16
Group 10(56 roads) Pacific Coast
Section or Group-
230,033 384 198,099,990 +31.983,394 16.25
Net Earnings------Inc.(+)or
1910
1909.
--Mileage-Dec.(-)
1910. 1909
$
$
$
%
Group No. 1
+61,614 1.81
7,556 3,467,518 3,405,904
7,584
25,518 25,218 18,427,076 16,839,013 +1,588,063 9.43
Group No. 2
Group No. 3
26,344 26,132 8,871,096 8,488,788 +382,308 4.50
Groups Nos. 4 and 5.... 38,674 37,977 8,377,653 7,386,364 +991,289 13.42
Groups Nos. 6 and 7_ _ _ 61,804 61,151 15,592,539 14,087,668 +1,504,871 10.68
Groups Nos. 8 and 9... 53,747 52,422 8,928,374 9,202,369 -273,995 2.98
15,674 14,818 6,419,914 5,497,237 +972.677 17.85
Group No. 10
Total (725 roads)
229,345 225,274 70,084,170 64,857,343 +5,226,827 8.06
Total
NOTE.-Group I. includes all of the New England States.
Group II. Includes all of New York and Pennsylvania except that portion west
of Pittsburgh and Buffalo; also all of New Jersey, Delaware and Maryland, and
the extreme northern portion of West Virginia.
Group III. Includes all of Ohio and Indiana; all of Michigan except the northern
peninsula, and that portion of New York and Pennsylvania west of Buffalo and
Pittsburgh.
Groups IV. and V. combined include the Southern States south of the Ohio and
east of the Mississippi River.
Groups VI. and VII. combined include the northern peninsula of Michigan, all of
Minnesota, Wisconsin,Iowa and Illinois; all of South Dakota and North Dakota, and
Missouri north of St. Louis and Kansas City; also all of Montana, Wyoming and
Nebraska, together with Colorado north of a line parallel to the State line passing
through Denver.
Groups VIII. and IX. combined include all of Kansas, Oklahoma. Arkansas and
Indian Territory; Missouri south of St. Louis and Kansas City; Colorado south of
Denver; the whole of Texas and the bulk of Louisiana; and that portion of New
Mexico north of a line running from the northwest corner of the State through
Santa Fe and east of a line running from Santa Fe to El Paso.
Group X. includes all of Washington, Oregon, Idaho, California, Nevada, Utah
and Arizona, and the Western part of New Mexico.
ITEMS ABOUT BANKS, BANKERS AND TRUST CO.'S.
-The public sales of bank stocks this week aggregate
104 shares and were all made at the Stock Exchange. No
bank or trust company stocks were sold at auction.
Low. High. Close. Last previous sale.
Shares. BANKS-New York.
July 1910- 200
202 3i 202
•28 Commerce, Nat. Bank of.... 201
July 1910- 184
184
184
184
•76 Fourth National Bank
• Sold at the Stock Exchange.
-Two New York Stock Exchange memberships were
posted for transfer this week, the consideration being
$67,000 and $65,000 respectively. Last week $65,000 was
paid.
-Action with regard to the establishment of a national
currency organization in this city will be taken on Friday
next, the 29th inst., when a meeting of local national bank
interests will be held at the Clearing House. The movement
to perfect such an organization at this time follows the recommendation made a week ago by Secretary of the Treasury
MacVeagh, and was referred to in this department on
Saturday last. In line with the provisions of the AldrichVreeland Currency Bill enacted in May 1908, the local
190
THE CHRONICLE
bankers in Julie of that year instituted steps to bring about
the formation of a national currency association. Committees on organization and nomination were appointed, but
while a certificate of organization was passed upon, the formation of the association was never actually completed.
Secretary MacVeagh, in a statement issued on the 15th inst.
advocating the establishment of these associations, points
out that there has been but one currency association formed
under the law, namely in Washington, D. C., and he notes
that while the impulse towards their formation was general
throughout the country following the passage of the Act,
the movement was halted by reason of what were considered
by the banks as one or two serious difficulties in the law.
One of these, he states, was that there would be no provision
for the withdrawal of a bank after it had joined an association. In dispatches from Washington this week, however,
this withdrawal inhibition is said to have been overcome,
and it is reported that any bank may withdraw at any time
upon approval of the executive committee of the association
of which it is a member,and upon approval of the Secretary
of the Treasury, provided the bank has no outstanding
paper. Mr. MacVeagh, while recommending the formation
of these currency associations, asserts that he does not expect that any such association will ever have to avail of its
powers with respect to the issue of currency; in fact, he expresses it as his belief that their very existence would tend
to prevent the need of the exercise of their powers. We
quote his remarks in the matter as follows:
"It has been my feeling for some time back that the first impulse of the
national banks immediately after the passage of the Aldrich-Vreeland bill
was the correct one. That impulse was to form at once the national currency associations provided for in the Act. The effect was to interpret
the authorizations of the Aldrich-Vreeland Act as something that should
not await an emergency, but should be adopted when the financial atmosphere was perfectly clear.
Now, that impulse toward the formation of national currency associations was general throughout the country. It, however, resulted in the
formation of only one national currency association—to wit, the one in
Washington, D. C. The reason why this movement halted at that time
was that the banks encountered, as they thought, one or two serious difficulties in the law, one of which was that there would be no provision for
the withdrawal of a bank after It joined an association. While the matter
was being considered in the Treasury Department, and before it became
evident that the objections found by the banks could and would be overcome, the impulse had passed away, and the interest turned toward general
banking and currency reform.
It is true, of course, that the Aldrich-Vreeland bill was only meant to
operate ad interim until a reform banking and currency system should be
adopted. This reform seemed imminent, and so the interest in the national
currency associations was allowed to diminish.
I have felt that this movement should be revived. While I am very
hopeful of an ultimate and not too long-deferred reform of our banking and
currency systems, that reform is not as imminent as we hoped it would be
at this time. I have thought, therefore, that the intention of the AldrichVreeland bill should be carried out and that its powers should be organized
for the interval before the passage of a bill permanently reforming the banking and currency system. I have felt that this is a favorable time.
I therefore recommended some time ago the formation of these associations to some of the national bankers, including a committee of the American
Bankers' Association, who came to Washington to confer as to other Treasury matters. My own view of the national associations is that they should
be formed in such a time as this, when no one contemplates any financial
conditions which would require the use of their powers.
Personally, I do not expect that any national currency association will
ever within the life of the law have to avail Itself of its powers with respect
to the issue of currency. Indeed, I think that the very formation and existence of these associations would strongly tend, perhaps effectually and
finally tend, to prevent the need of the exercise of their powers. I therefore minimize the use of these associations in emergencies and magnify
the importance of their influence in preventing emergencies. They are
associated in my mind with times of financial peace and quiet rather than
with times of confusion and convulsion.
—No announcement has been made concerning the developments at the conference had by the Traffic Managers of the
Southeastern Lines, at White Sulphur Springs, Va., on
Tuesday, on the cotton bill-of-lading matter. The local
bankers who are identified with the movement to provide
safeguards against bills of lading were to have held another
meeting at the Corn Exchange Bank in this city on Thursday,
but an adjournment until Tuesday next was taken.
Further dispatches were received from London this week
with regard to the attitude of English and Continental bankers respecting American cotton bills of lading. The cable
to the New York "Sun" from that point on July 21 says:
"It is understood that the committee cabled to American bankers to-day
that the banks represented on the committee had agreed 'that, in the case
of drafts drawn upon banks against bills of lading for cotton negotiated
through exchange buyers in America, bankers will decline from Oct. 31
onward to accept them against bills of lading relating to such drafts unless
the genuineness of the bills of lading, both as to signature and possession
of the cotton by the carrier up to the time of issue, be guaranteed by such
exchange buyers to the satisfaction of the banks concerned.' The action
of the bankers is approved by the importers who are their customers in
Liverpool and other cotton-Importing centres. It is generally expected that
a conference will be arranged between the bankers of Europe and America."
William B. Joyce, President of the National Surety Co.,
who will confer with banking interests abroad on the guaranty of bills of lading, sailed for Europe on Wednesday.
[VoL. Lxxxxi.
—Copies of the law passed by the New York Legislature
at the late session, and which is designed primarily to provide
stricter supervision over small private banking concerns,
have been sent by State Comptroller Clark Williams to
bankers and brokers generally throughout the city. The
law is to go into effect on Sept. 1. It makes it incumbent
upon individuals or partnerships engaging in the business
of receiving deposits to obtain a license from the Comptroller,
to file with him a statement of their assets and liabilities, to
deposit with him $10,000 in money or in securities to obtain
a surety bond for the faithful holding of moneys deposited
with them, to make reports to the Comptroller four times a
year, &c., &c. Few, if any, Stock Exchange houses
will come within the provisions of the law inasmuch as
exceptions from its operation are provided which would
seem to cover the case of such houses. Thus Section 29d, in
which the exceptions to its application are specified,provides
that its provisions shall not apply "to any individual or
partnership receiving money on deposit for safe-keeping or
for transmission to others, or for any other purpose, where the
average amount of each sum received on deposit, or for transmission, by such individual or partnership in the ordinary
course of business, during the fiscal year preceding the date
of the affidavit, hereinafter specified, shall not be less than
$500, proof of which fact, by affidavit, to the satisfaction
of the Comptroller shall be made by the individual or a
member of the partnership seeking exemption hereunder,
whenever thereunto requested by the Comptroller." This
section in full is as follows:
Section 29d. Exceptions.—The foregoing provisions shall not apply
(1) to any corporation or "individual banker" authorized to do business
under the provisions of the banking law, nor to any association organized
under the National Banking Act; nor (2) to any hotel-keeper who shall
receive money for safe-keeping from a guest; nor (3)to any express company
or telegraph company receiving money for transmission; nor (4) to any individual or partnership receiving money on deposit for safe-keeping or for
transmission to others, or for any other purpose, where the average amount
of each sum received on deposit, or for transmission, by such individual or
partnership in the ordinary course of business, during the fiscal year
preceding the date of the affidavit hereinafter specified, shall not be less
than $500, proof of which fact by affidavit to the satisfaction of the Comptroller shall be made by the Individual or a member of the partnership
seeking exemption hereunder, whenever thereunto requested by the
Comptroller; nor (5) to any individual or partnership who would otherwise
be required to comply with Section 25 of this article who shall file with the
Comptroller a bond in the sum of $103,000, approved by the Comptroller
as to form and sufficiency for the purpose and conditioned as in said section
prescribed, where the business is conducted In a city having a population
of 1,000,000 or over, and If conducted elsewhere in the State such bond
shall be in the sum of $50,000; or in lieu thereof money or securities
approved by the Comptroller of the same amount.
The Comptroller announces that the securities acceptable
under the bonding provision must consist of bonds which
are legal investments for savings banks in this State.
—Brigadier-General William L. Marshall has been appointed to the post created on the 2nd inst. of Consulting
Engineer to the Secretary of the Interior in the Reclamation
Service. The appointment is in line with the plan of inspection of existing reclamation projects, as provided in
the Act recently passed by Congress authorizing advances
by the Government to the reclamation fund and the issuance
of $20,000,000 of certificates of indebtedness in reimbursement therefor. We give the provisions of this bill, which
was signed by President Taft on lune 25, in full herewith:
An Act to authorize advances to the "reclamation fund," and for the
issue and disposal of certificates of indebtedness in reimbursement therefor,
and for other purposes.
Be it enacted bu the Senate and House of Representatives of the United States
of America in Congress assembled, That to enable the Secretary of the Interior to complete Government reclamation projects heretofore begun, the
Secretary of the Treasury is authorized, upon request of the Secretary of
the Interior, to transfer from time to time to the credit of the reclamation
fund created by the Act entitled "An Act appropriating the receipts from
the sale and disposal of public lands in certain States and Territories to
the construction of irrigation works for the reclamation of arid lands,"
approved June seventeenth, nineteen hundred and two, such sum or sums,
not exceeding in the aggregate twenty million dollars, as the Secretary of
the Interior may deem necessary to complete the said reclamation projects,
and such extensions thereof as he may deem proper and necessary to the
successful and profitable operation and maintenance thereof or to protect
water rights pertaining thereto claimed by the United States , provided
the same shall be approved by the President of the United States; and such
sum or sums as maybe required to comply with the foregoing authority
are hereby appropriated out of any money in the Treasury not otherwise
appropriated; Provided, That the sums hereby authorized to be transferred
to the reclamation fund shall be so transferred only as such sums shall be
actually needed to meet payments for work performed under existing law;
And providedfurther, That all sums so transferred shall be reimbursed to the
Treasury from the reclamation fund, as bereinafter provided; And provided
further. That no part of this appropriation shall be expended upon any existing project until It shall have been examined and reported upon by a
board of engineer officers of the Army, designated by the President of
the United States, and until It shall be approved by the President as feasible and practicable and worthy of such expenditure; nor shall any portion
of this appropriation be expended upon any new project.
Sec. 2. That for tho purpose of providing the Treasury with funds
for such advances to the reclamation fund, the Secretary of the Treasury is authorized to issue certificates of indebtedness of the United States
In such form as he may prescribe, and in denominations of fifty dollars or
JULY 231910.]THE
CHRONICLE
multiples of that sum; said-certificates to be redeemable at the option of the
the United States at any time after three years from the date of their
Issue and to be payable five years after such date, and to bear interest, payable semi-annually, at not exceeding three per centum per annum; the principal and Interest to be payable In gold coin of the United States. The certificates of indebtedness herein authorized may be disposed of by the Secretary of the Treasury at not less than par; under such rules and regulations
as he may prescribe, giving all citizens of the United States an equal opportunity to subscribe therefor; but no commission shall be allowed and the
aggregate issue of such certificates shall not exceed the amount of all advances made to said reclamation fund, and in no event shall the same exceed the sum of twenty million dollars. The certificates of indebtedness
herein authorized shall be exempt from taxes or duties of the United States,
as well as from taxation in any form by or under State, municipal or local
authority; and a sum not exceeding one-tenth of one per centum of the
amount of the certificates of indebtedness Issued under this Act Is hereby
appropriated, out of any money in the Treasury, not otherwise appropriated,
to pay the expense of preparing, advertising and issuing the same.
Sec. 3. That beginning five years after the date of the first advance
to the reclamation fund under this Act, fifty per centum of the annual receipts of the reclamation fund shall be paid into the general fund of the
Treasury of the United States until payment so made shall equal the aggregate amount of advances made by the Treasury to said reclamation fund,
together with Interest paid on the certificates of Indebtedness Issued under
this Act and any expense incident to preparing, advertising and issuing the
same,
Sec. 4. That all money placed to the credit of the reclamation fund in
pursuance of this Act shall be devoted exclusively to the completion of
work on reclamation projects heretofore begun as hereinfbeore provided,
and the same shall be Included with all other expenses in future estimates of
Construction, operation or maintenance, and hereafter no irrigation project
contemplated by said Act of June seventeenth, nineteen hundred and two,
shall be begun unless and until the same shall have been recommended by
the Secretary of the Intreior and approved by the direct order of the President of the United States.
See. 5. That no entry shall be hereafter made and no entryman shall
be permitted to go upon lands reserved for irrigation purposes until the
Secretary of the Interior shall have established the unit of acreage and fixed
the water charges and the date when the water can be applied and made
Public announcement of the same.
Sec. 6. That Section nine of said Act of Congress, approved June seventeenth, nineteen hundred and two, entitled "An Act appropriating the receipts from the sale and disposal of public lands in certain States and Territories to the construction of irrigation works for the reclamation of arid
lands," Is hereby repealed.
Approved, June 25 1910.
The Board of Engineer Officers of the Army, required to
examine and report upon the projects, in accordance with
the provisions above, was appointed on the 3rd inst. and
consists of Lieut.-Col. John Biddle, Lieut.-Col. William C.
Langfitt, and Majors William W. Harts, Charles W. Kutz
and Harry Bugress.
It is reported from San Francisco that the constitutionality of the Reclamation Act was upheld on the 5th
inst. by the United States Circuit Court of Appeals, the
latter sustaining the decision of the Idaho District Court
in favor of the Government in the case of David Burley vs.
the United States. The plaintiff had contended that the
Act, which permitted the Government to condemn his lands
and water for irrigation purposes was unconstitutional, on
the ground that the water stored in the reservoirs sought
to be taxed was not wholly for public use, but was also
to be supplied to private land owners by the Government.
The New York "Tribune" says:
The decision established the right of the Secretary of the Interior to
acquire by condemnation or otherwise lands and waters In the furtherance
of reclamation projects. It also extends the right of the Government to
take over any needed private water sites in carrying out the provisions of
the Act. It directly affects the disbursement of the $20,000,000 recently
appropriated by Congress for reclamation projects In the West, and will
permit the resumption of work that had been suspended pending a decision
on the legal questions involved.
—The regular semi-annual meetings of the national bank
examiners instituted by Comptroller of the Currency Lawrence 0. Murray were held by the various groups during
the week of July 9. The examiners in District No. 2,
comprising New York, New Jersey and Delaware, with
headquarters in New York City, convened here in the
Custom House. At both the New York and Chicago
sessions reference was had to a condition which is said
to exist in the case of some country banks—that of
evading the national banking laws in borrowing moneys by
means of concealed loans and failing to show the same in
their reports. Charles W. Hanna, Chairman of the local
district, gave out a statement at the conclusion of the meeting indicating the methods pursued in practices of this kind,
and we quote his remarks herewith:
Two subjects were brought before the meeting which caused considerable
discussion.
One related to the custom of country banks, particularly In the West
and South, of borrowing money by means of concealed loans which are not
shown In published reports of banks, but constitute an indirect liability
on the part of the bank, although not for the time being a legal liability.
The methods by which this is done are various, but those usually followed
are one of three plans.
By the first plan when the country bank wants to borrow money from Its
New York correspondent without showing re-discounts, or bills payable on
Its printed statements, It sells a number of its bills receivable to its President or Cashier or some of Its directors, who then use the same as collateral
on their personal note for a like amount, which the President or Cashier
of the bank arranges to have the New York correspondent discount. There
is nearly always an understanding on the part of both banks that the note
191
will be taken care of by the bank which sold Its bills receivable. The bills
receivable are usually endorsed "without recourse" by the selling bank,
the endorsement often being written In lead pencil, which can be erased
when the notes are returned to the bank that sold them. This plan has
been used very extensively In the past by officers of some Western and
Southern banks, notably by William Adler of the State National Bank of
New Orleans and F. G. Bigelow of Milwaukee, both of whom came to grief
through their financial dealings, of which this system was a most important
detail.
By the second plan the country bank sells Its bills receivable to the New
York bank outright, endorsing them "without recourse," but with an
understanding on the part of the selling bank that It will take care of them
at maturity; and either written Instructions that they be charged to the
account of the country bank when due, or a moral obligation on the part
of its Cashier to have his bank pay them at maturity.
By the third plan the country bank will sell some of its railroad bonds
to the city bank with an agreement to re-purchase same at maturity.
It was announced at the meeting that Comptroller Murray has under
consideration a plan for meeting this practice on the part of many banks
by requiring all banks to show in their reports of condition whether or not
they have sold any of their unmatured assets to officers or others for purpose of borrowing money for benefit of the bank.
With regard to the other matter which came in for consideration, Mr. Hanna said:
Another important subject brought before the meeting of examiners, and
one which elicited a great deal of discussion, was the reports of the operation
of some speculative financiers in the vicinity of New York who have recently
joined together for the purpose of buying and organizing a chain of small
country banks In this district, some of which have been already acquired,
and all of which seem designed to be used for the purpose of furnMing these
financiers with funds to promote their operations.
—The new Maryland banking law passed at the late
session of the Legislature, under which all the financial institutions of thd State other than national are placed under the
supervision of the newly created Banking Department, became operative on June 1. J. Dukes Downes has been appointed to the office of Bank Commissioner, also created
under the new Act,which provides more stringent regulations
than have heretofore been in force governing the operation
of the State institutions.
—An informal discussion of the question of the employment of an examiner by the Seattle Clearing-House Association was recently had by the bankers of that city. We are
advised, however, that for the present the matter will not
be taken up seriously.
—Before adjourning last week, the New York State
Bankers' Association, which was in annual session at Cooperstown, N. Y., adopted a resolution providing for the appointment of a committee of five members of the Association,
which, with a similar committee representing the trust companies of the State, is to take up for consideration the question of the segregation of savings deposits. Luther W. Mott,
Vice-President and Cashier of the First National Bank of
Oswego, has been elected President of the association.
Stuart G. Nelson, Vice-President of the Seaboard National
Bank of New York, declined to accept the nomination which
had been offered him for the vice-presidency of the association, and Walter H. Bennett, Vice-President and Cashier of
the American Exchange National Bank of New York, whose
name was suggested by Mr. Nelson, was elected as VicePresident. The Treasurer of the association is H. C. Morgan, President of the First National Bank of Cuba, N. Y.,
and the Secretary (re-elected) is William J. Henry of New
York.
—The Century Bank of this city has taken steps to increase
its capital from $200,000 to $250,000. The proposition was
ratified by the shareholders on Thursday and the enlarged
capital is to become effective on Aug. 1. The new stock is
offered pro rata to the present shareholders at 150 per $100
share. The institution, which is located at Fifth Avenue and
20th Street, intends to establish a branch at Third Avenue
and 47th Street.
—Walter H.Bennett, who was promoted from the assistant
cashiership to the cashiership of the American Exchange National Bank of this city last January, has been accorded another advancement. He was this week elected a Vice-President and will serve in the dual office of Vice-President and
Cashier. Three new Assistant Cashiers of the bank were also
chosen this week, namely, Arthur P. Lee, Elbert A. Bennett
and George C. Haigh. Walter H. Bennett was also elected
Vice-President of the New York State Bankers' Association
at its meeting at Cooperstown last week.
—W. J. Harahan, Assistant to the President of the Erie
Railroad, has been elected a director of the Coal & Iron National Bank of this city, in place of George Sheffield, resigned.
Mr. Sheffield, it may be stated, has retired from all business
connections. Mr. Harahan's election to the board further
extends the close connections of the bank with prominent
railroad interests of the country, and should serve to augment its financial strength and influence. On the 13th inst.
the institution declared its regular quarterly dividend of
192
THE CHRONICLE
•
13%, this being the sixteenth quarterly dividend. In its
latest report of June 30 the bank reports surplus and profits
(earned) of $373,172 and deposits of $6,870,672, these items
comparing with $349,550 and $6,342,921 respectively on
March 29. The total assets are now $8,673,721. The institution has a capital of $1,000,000.
—Walter Hall, a paying teller at the Herald Square
branch of the Greenwich Bank of this city, disappeared from
home July 3d and is now being sought for a shortage in his
accounts for a sum said to be less than $50,000. The
directors have personally made good the shortage. President
Duncan states that the missing man was sick two days
before his disappearance and he believes that he was overcome
or affected by .the heat and expects him to turn up soon in
some hospital. The President thinks that Hall is a victim
of a temporary aberration and not responsible for the act
while in that condition. The bank officers have tried to
protect the paying teller's wife, who is dangerously ill.
Every effort has been made this week to locate Hall. The
amount of the shortage is insignificant, as the capital and
surplus of the Greenwich Bank is $1,322,390 and its deposits
over $10,000,000. The bank's headquarters are at 402
Hudson St., and it has several branches in Manhattan Borough.
—A discharge from bankruptcy has been granted to the
firm of Lathrop, Haskins & Co. of 60 Broadway, one of the
three houses which suspended in January as a result of the
collapse in the common stock of the Columbus & Hocking
Coal & Iron Co. The order for the discharge from bankruptcy was issued by Judge Hand in the U. S. District Court
on the 20th, none of the creditors, it is stated, having opposed the application at the hearing. It is further stated that
the order does not become effective until the filing of an affidavit reporting the terms of settlement made with the
firm's creditors.
—J. Howard Lowery, formerly Assistant Cashier of the
Utica City National Bank of Utica, N. Y., who had been missing since April 26, following the discovery of an alleged
shortage in his accounts, was arrested in Philadelphia on the
18th inst. The accused when arraigned before a United
States Commissioner in Utica on the 19th waived examination and was held in custody in default of bail fixed at $10,000. According to the Utica "Press" of the 19th inst., his
alleged thefts covered a period of several years,and aggregated
$115,000. The bank, it is stated, is protected by a surety
bond for $20,000, and it has also attached property in which
the accused had an interest amounting to about $10,000.
With regard to the manner of the concealment of the shortage, the "Press" reports that "Lowery fooled the bank examiners who went over the books regularly by clever manipulation of the adding machine slips. He operated the machine to assist them, and as they did not suspect him, this
gave him the opportunity to make the figures tally with the
actual cash."
—A first dividend of 60% has been declared to the creditors
of the failed National City Bank of Cambridge, Mass. The
Institution closed its doors on February 23 last, when the
announcement of a shortage in its accounts was made.
George W. Coleman, formerly bookkeeper of the bank, subsequently pleaded guilty to misapplying its funds, and is
now serving a fifteen years' sentence. An assessment of
100% was levied on the $100,000 capital in April. The
amount represented in the dividend is said to be $233,000.
—Clarence A. Evans, a Deputy Bank Commissioner of
Massachusetts, has been elected Vice-President of the Merchants' National Bank of Worcester, Mass. The office is a
newly created one. Mr. Evans will take up his new duties
on Aug. 1.
—George W. Tufts, Cashier of the Rockport National
Bank of Rockport, Mass., was arrested on the 1st inst.,
charged, it is stated, with the misapplication of the funds
of the institution. He was released under bail of $5,000
on the 19th inst. His arrest is said to have been made
at the instance of National Bank Examiner William E.
Neal, following an examination of the books of the bank.
The management has made no statement respecting the
amount of the alleged shortage, but the arrest is reported
to have been made on the specific charge of the misappropriation of $4,000. The Boston "Transcript" of the 2d inst.
reported the receipt of advices from Rock port to the effect
that the alleged misapplication would be less than $8,000.
The "Transcript" also stated that "the bank officials reported
to the Boston Clearing House to-day that the bank wa3 in a
[VOL. Lxxxxi.
4
sound condition and was not affected by the alleged irregularities. The Cashier was bonded by a bonding company for an
amount considerably larger than the total of the alleged
peculations." The bank was established in 1865. It has a
capital of $50,000, and recently reported a surplus of
$20,000. Mr. Tufts was formerly Town Treasurer. He had
been connected with the bank for thirty-one years and
had been its Cashier for twenty-eight years.
—The Franklin Savings Bank of Franklin, Pa., is reported
to have closed its doors this week, following the death last
Saturday of E. W. Echols, said to be the principal owner.
It is stated that its affairs will be voluntarily liquidated.
—The obligations to the depositors of the Fort Pitt National Bank of Pittsburgh, who had previously received dividends aggregating 90% of their claims, were discharged in a
distribution made on the 13th inst., when the final settlement of their accounts, with interest at the rate of 6%, was
made. The bank suspended in December 1907.
—The Washington National Bank of Pittsburgh, whose
business has become a part of that of the Washington Trust
Company of Pittsburgh, is winding up its affairs. The two
institutions have always been affiliated. The bank (capital
$200,000) began business in 1903 and the trust company in
1905.
—A number of important resolutions were adopted by the
Minnesota Bankers' Association at its annual meeting held
at St. Paul on June 22 and 23. In one of these, relating to
the audit by certified public accountants of accounts of
firms and corporations which sell their paper in the open
market, the Association commends this practice and recommends that it become general. The adoption of this resolution developed from the discussion of a plan calling for the
registration of outstanding commercial paper; but according
to the St. Paul "Pioneer Press", the prevailing sentiment
seemed to be that the time was not ripe for such a move, and
the resolution adopted, and printed herewith, called for a
less radical course:
We commend the attitude of firms and corporations who sell their paper
In the open market In furnishing independent audits of their business by
responsible certified public accountants.
And whereas, We believe such independent audits arc of great value,
both to the borrower and lender.
Therefore, be It resolved, That we recommend this practice becoming
general, and we further recommend that the affairs of all firms and corporations which are In any way Identified with each other be audited by such
accountants as of the same date.
In another resolution the Association instructed the Executive Council to present to the next Legislature a bill increasing
the present appropriation for the immigration department
at least 100%, and urged the council to use its best efforts to
secure the enactment of the bill, to the end that a systematic
and extensive plan of publicity for the State and its resources
be carried out. The Association also placed itself on record
as recommending "the extension of the teaching of manual
training, domestic science and agriculture in the present high
schools and consolidated rural schools of the State," following the criticism of the school system by Joseph Chapman
Jr., Vice-President of the Northwestern National Bank of
Minneapolis, in which he pointed out that there is no instruction of agriculture in the Minnesota rural schools. The
executive council was also authorizet1 to take steps to incorporate the Association, in line with the recommendation
of W.I. Prince, Cashier of the City National Bank of Duluth,
in his annual address as President of the Association.
—Henry C. Walbeck, heretofore Cashier of the German
Insurance Bank of Louisville, Ky., has been elected VicePresident and General Manager of the institution. Oscar
Metzner has been elected to the cashiership. It is expected
that Mr. Walbeck will later be made President, succeeding
the late W. H. Edinger.
—The proposition to increase the capital of the Bankers'
Trust Co. of Houston, Tex., from $500,000 to $1,000,000
was unanimously approved by the stockholders on the 14th
inst. The new stock is offered to shareholders of record
July 20, and will be disposed of at $150 per share (par $100),
the premium being added to surplus. It was the sense of
the meeting that the company would be benefited by placing
the stock in as many different communities as possible, and
to this end some of the shareholders have consented to waive
their rights to the new issue. The institution began business
last fall.
—At a recent meeting of the directors of the Bank of
Italy, at San Francisco, it was decided to put out on Jan. 1
next the 2,500 shares of authorized stock at present remaining
unissued. Two years ago the bank increased its authorized
JULY 23 1910.1
THE CHRONICLE
capital from $500,000 to $1,000,000, but only $250,000 of
new stock was issued at that time,making the paid-in capital
$750,000. Under the present action the entire capital of
$1,000,000 will be outstanding at the first of the year.
The forthcoming issue will be disposed of at $115 per $100
share.
—The stockholders of the Bank of California, N. A., at
San Francisco, on the 12th inst. ratified the plan for the
merger of the San Francisco National Bank with their institution, referred to in these columns June 11. They also
approved the proposition to increase the capital of their
bank from $4,000,000 to $8,500,000; of the increased amount
$4,000,000 will represent the capitalization of surplus and
undivided profits. The stockholders of the Bank of California will be allotted 40,000 shares of the new capital of
their bank, while the stockholders of the San Francisco National Bank (capital $1,000,000) will receive 5,000 shares of
the Bank of California's new stock; in addition, the latter
will pay for the assets of the absorbed bank the sum of
$375,000.
—The Union Discount Co. of London has issued its semiannual statement covering the six months ending June 30.
The gross profits for the half-year were $1,211,977: The
balance sheet for June 30 shows gross assets of $124,552,351;
deposits (including provision for contingencies) were $92,170,955, and bills re-discounted $24,018,707. There was
credited to profit and loss $598,818 and a further sum of
$100,000 was added to the reserve fund, which now stands
at $2,900,000.
Enonetargl(CommercialXnglisligem
English Financial Markets—Per Cable.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
London,
Wed.
Tues.
Mon.
Week ending July 22.
Sal.
Thurs. Fri.
25 5-16 2531
25 3-16
Silver, per oz
d 25 3-16 2554
2531
Consols, new,2% per cents__ 8234
81 15-1681 15-1681 13-16 81 13-16 81 13-16
8134
8154
81%
82
For account
82 3-16 82
97.40
97.25
97.5234 97.55
97.25
French Rentes (in Paris)Jr_ 97.65
6254
6234
6054
Amalgamated Copper Co.._ 61
01
6054
75%
b Anaconda Mining Co
731
734
8
754
73%
10154
102
10154
Atch. Topeka & Santa Fe 102
10154
10134
103
103
103
103
103
103
11254
11254
11234
11154
11254
113%
Baltimore & Ohio
9234
9254
91%
9134
Preferred
9134
9134
19154
19054
190%
190%
19134
19134
Canadian Pacific
76
76
75
Chesapeake & Ohio
76
753.4
7654
1265
127
126 34
%
Chicago Milw. & St. Paul_ A27
12554
12654
2431
238
%
24
2434
Chicago Great Western
2454
2454
31
31
31
3154
3134
Denver & Rio Grande
3031
7254
72
72
73
Preferred
7234
72
25%
25%
25
25%
25%
25%
Erie
42
4234
4254
42%
4254
First preferred
4254
3254
3254
3254
3234
Second preferred
3254
3234
134
134
134
13034
134
13354
Illinois Central
147
147
148
14734
Louisville & Nashville
14734
14734
33
33
Missouri Kansas & Texas_ _ _ 34
33%
333-4
3254
6534
Preferred
6534
6554
6554
6534
6554
69
69
69
Nat. RR. of Mex., 1st pref
69
6954
7054
28
28
28
Second preferred
2734
2834
2754
11654
11634
N. Y. Central & Hudson_ _ _118
11654
11654
11731
44
4454
4434
44
N. Y. Ontario & Western_ _ 4454
4431
101
100
100
Norfolk & Western
10054
10054
10054
91%
9154
9134
Preferred
9134
9154
9134
121
121%
122
12254
12231
Northern Pacific
12254
66
66
65%
66
6654
66
a Pennsylvania
73
723%
74
73
7234
7354
a Reading
45
45
45
45
45
45
a First preferred
4834
4834
4854
4834
4854
4854
a Second preferred
3334
33%
33
333-4
3154
3354
Rock Island
117
116%
11754
11654
11631
11734
Southern Pacific
2354
2354
23%
2354
2334
233-4
Southern Railway
56
56
56
5534
5654
56
Preferred
167
166%
16654
16654
167%
16654
Union Pattie
93
94
94
9334
9434
93
Preferred
7254
7154
72
7254
7154
72%
U. S. Steel Corporation
11934
11934
11931
11954
11934
Preferred
11934
1754
1754
175
1734
18
%
Wabash
1754
3731
37
38
3734
36
38%
Preferred
6634
66
6634
6634
66
66%
Extended 48
--a Price per share. b £ sterling.
(Commercial and VAiscellantonscgMle
STOCK OF MONEY IN THE COUNTRY.—The following
table shows the general stock of money in the country as well
as the holdings by the Treasury, and the amount in circulation, on the dates given. The statement for July 1 1909 will
be found in our issue of July 17 1909, page 142.
Stock of Money July 1 1910 —Money in Circulation-July 1
In United
Held in
July 1
1910.
Treasury.d
Slates.
1909.
$
S
$
$
*1,635,886,511 180,402,302 592,547,340 601,433,854
Gold coin and bullion
56,650,510 806,286,359 817,829,209
Gold certificates a
3,062,527
72,425,192
71,900,679
Standard silver dollars_ _ _ 564,604,719
10,117,976 478,999,024 478,317,516
Silver certificates_a
164,797,125 19,992,380 144,804,745 132,135,741
Subsidiary silver
3,663,530
8,470
3,672,000
4,204,987
Treasury notes of 1890_ _ _ 346,681,016 10,495,935 330,185,081 340,641,603
United States notes
713,430,733 28,588,758 684,841,975 666,505,012
National bank notes
3,429,072,104 309,318,858 3,119,753,246 3,113,058,601
Total
Population of the United States July 1 1910 estimated at 90,363,000; circulation
per capita, $34 52.
* A revised estimate by the Director. of the Mint of the stock of gold coin was
adopted In the statement for Aug. 1 1907. There was a reduction of $135,000,000
193
a For redemption of outstanding certificates an exact equivalent in amount of the
appropriate kinds of money is held in the Treasury,and is not included in the account
of money held as assets of the Government. d This statement of money held in the
Treasury as assets of the Government does not include deposits of 'while money
in national bank depositaries to the credit of the Treasurer of the -United States.
amounting to $11,629,595.
BANK NOTES—CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS, &c.—We give below tables which
show all the monthly changes in bank notes and in bonds
and legal tenders on deposit.
Bonds and Legal-Tenders
on Depositfor
Circulation Afloat Under—
1909-10.
June 30 1910
May 31___
April 30____
Mch. 31__
Feb. 28_ _ _ _
Jan. 31____
Dee. 31 1909
Nov. 30_ _
Oct. 30_ _
Sept. 30____
Aug. 31____
July
Bonds.
Legal
Tenders.
Bonds.
Legal
Tenders.
Total.
686,974,880
685,671,510
684,943,460
683,675,710
682,695,850
681,518,900
683,437,240
681,689,370
679,545,740
676,386,040
672,925,700
667,652,650
27,913,720
29,477,138
30,206,728
31,947,510
30,635,348
28,546,979
26,952,730
26,438,190
25,595,793
26,776,066
26,581,779
27,845,433
685,517,013
682,765,703
683,254,858
685,311,486
679,387,520
681,332,354
683,401,523
680,995,267
678,344,963
676,031,393
672,263,696
667,508,731
27,913,720
29,477,138
30,206,728
31,947,510
30.635,348
28,546,979
26,952,730
26,438,190
25,595,793
26,776,066
25,581,778
27,845,433
3
713,430,733
712,242,841
713,461,586
717,258,996
710,022,868
709,879,333
710,354,253
707,433,457
703,940,756
702,807,459
698,845,474
695,354,164
The following shows the amount of each class of bonds
held against national bank circulation and to secure public
moneys in national bank depositories on June 30.
U. S. Bands Held June 30 to Secure—
Bonds on Deposit
June 30 1910.
4% Loan of 1925
3% Loan of 1908-1918
2% Consols of 1930
2% Panama of 1936
2% Panama of 1938
4% Philippine Loans
4% Porto Rico Loans
3.65% District of Columbia
Various Territory of Hawaii
4% Philippine Railway
Various State, City and Railroad_
Total
Bank
Circulation.
Public Deposits
in Banks.
$16,928,650
14,792,540
577,140,150
51,072,600
27,040,940
$4,310,000
4,172,300
25,638,000
2,810,000
1,405,000
4,882,000
1,079,000
872,000
832,000
136,000
5,637,500
$686,974,880
$51,774,700
Total
Held.
$21,238,650
18,964,840 .
602,779,050
53,882,600
28,445,940
4,882,000
1,079,000
872,000
832,000
136,000
5,637,500
8738,749,580
The following shows the amount of national bank notes
afloat and the amount of legal,tender deposits June 1 and
July 1 and their increase or decrease during month of June.
•
National Bank Notes—Total Afloat—
Amount afloat June 1 1910
Net amount issued during June
$712,242,891
1,187,892
Amount of bank notes afloat July 1 1910
Legal-Tender Notes—
Amount on deposit to redeem national bank notes June 1 1910
Net amount of bank notes retired In June
$713,430,733
$29,477,138
1,563,418
Amount on deposit to redeem national bank notes July 1 1910___ $27,913,720
GOVERNMENT REVENUE AND EXPENDITURES.—
Through the courtesy of the Secretary of the Treasury, we
are enabled to place before our readers to-day the details of
Government receipts and disbursements for 1909-10 and
previous fiscal years.
GOVERNMENT RECEIPTS AND DISBURSEMENTS.
Fiscal Years
ending
June 30.
1879._
1880
1881
1882
1883
1884
1885
1886
1887
1888
1889
1890
1891
1892
1893
1894
1895
1896
1897
1898_
1899
190011
1901
1902
1903
1904
1905
1906
1907
1908
1909
1910
Receipts from—
Customs.
Internal Revenue Miscellaneous.
137,250,048
113,561,610
186,522,065
124,009,374
198,159,676
135,264,386
220,410,730
146,497,595
214,706,497
144,720,369
195,067,490
121,586,072
181,471,939
112,498,726
192,905,023
116,805,937
217,286,893
118,823,391
219,091,174
124,296,872
223,832,742
130,881,514
229,668,584
142,606,706
219,522,205
145,686,249
177,452,964
153,971,073
203,355,017
161,027,624
131,818,530
147,111,233
152,158,617
143,421,672
160,021,752
146,762,865
176,554,127 . 146,688,574
149,575,062
170,900,691
206,128,482
273,437,162
233,164,871
295,327,927
238,585,456
307,180,664
254,444,708
271,880,122
284,479,582
230,810,124
261,274,565
232,904,119
261,798,857
234,095,741
300,251,878
299,150,213
269,666,773
332,233,363
286,113,130
251,711,127
246,212,644
300.711,934
285,185,830
333.043,800
23,015,526
22,995,172
27,358,231
36,616,925
38,860,716
31,866,308
29,720,041
26,728,767
35,292,993
35,878,029
32,335,803
30,805,692
27,403,993
23,513,747
21,436,988
18,792,256
17,809,786
20,191,583
24,479,004
a20,094,408
b24,596,662
d34,588,140
g35,086,186
36,153,403
45,106,969
45,621,493
48,380,087
45,315,851
61,225,524
63,236,467
56,664,912
57,4E0,243
Total.
273,827,189
333,526,611
360,782,293
403,525,250
398,287,582
348,519,870
323,690,706
336,439,727
371,403,277
379,266,075
387,050,059
403,080,982 •
392,612,447
354,937784
385,819,629
297,722,019
313,390,075
326,976,200
347,721,705
340,570,111
504,162,306
563,080,938
580,852,306
562,478,233
560,396,675
539,800,177
x544,274,685
594,717,942
663,125,660
601,060,724
603,589,490
675,679.875
a Does not include $6,303,000 from sale of Kansas Pacific RR. and $58,448,224
from sale of Union Pacific RR.
b Does not include $11,798,314 from sale Central Pacific RR.
d Does not Include $821,898 from payment of dividend by receivers of Union
Pacific and $3,338,016 from sale Central Pacific RR.
g Does not include $2,122,841 received In June 1901 from sale of claim against
Sioux City & Pacific, $133,943 from payment of dividend by receivers of Union
Pacific and $4,576,247 received on account of Central Paelfic indebtedness.
x Includes re-payment of $5,600,000 loaned to Louisiana Purchase Exposition
the previous fiscal year.
Included $17,362,815 received from Corporation Tax.
Expenditures.
Excess
Fiscal
Of
Years Ordinary, Premium
Interest.
Total.
Receipts.
ending incl. War on Bonds Pensions.
June 30 and Navy. Purchased.
$
$
$
$
$
$
35,121,482 105,327,949 266,947,884
6,879,300
1879___ 126,498,453
65,883,653
1880_-- 112,312,889 2,795,320 56,777,174 95,757,575 267,642,958
1881_ 127,083,618 1,061,249 50,059,280 82,508,741 260,712,888 100,069,405
61,345,194 71,077,207 257,981,440 145,543,810
1882___ 1125,559,039
1883___ 1 140,235,433
66,012,574 59,160,131 265,408,138 132,879,444
55,429,228 54,578,378 244,126,244 104,393,626
1884__- 134,118,638
1885_ 152,738,412
56,102,267 51,386,256 260,226,935
63,463,771
1886_ 128,498,128
63,404,864 50,580,146 242,483,138
93,956,589
1887___ 145,161,501
75,029,102 47,741,577 267,932,180 103,471,097
1888___ 134,650,443 8,270,842 80,288,509 44,715,007 267,924,801 6111,341,274
1889_-- 153,370,352 17,292,363 87,624,779 41,001,484 299,288,978 687,761,081
1890_-- 154,700,34720,304224 106,936,855 36,099,284 318,040,710 685,040,272
1891_-- 193,409,598 10,401,221 124,415,951 37,547,135 365,773,905 626,838,542
1892_-- 187,062,161
9,914,454
134,583,053 23,378,116 345,023,330
1893_-- 196,856,004
2,341,675
159,357,558 27,264,392 383,477,954
1894_ 198,506,589 141,177,285 27,841,406 367,525,280 dt. 69,803,261
1895_-- 183,822,039
141,395,299 30,978,030 356,195.298 dl. 42,805,232
1896., 177,360,416
139,434,001 35,385,029 352,179,446 dl. 25,203,246
1897_-- 186,929,884
141,053,165 37,791,110 365,774,159 dl. 18,052,454
1898_-- 258,331,158
147,452,389 37,585,056 443,368,583 df.102,798,472
1899.-- 425,780,326
139,394,929 39,896,925 605,072,180 dt.100,909,874
75,367,146
1900_-- .306,676,143
140,877,316 40,160,333 487,713,792
1901___ 338,300,752
71,142,734
139,323,622 32,342,979 509,967,353
1902___ 303,594,253
138,488,560 29,108,045 471,190,858
91,287,376
1903___ 339,117,012
138,425,646 28,556,349 506,099,007
54,297,661
1904__ 115,196,565
142,559,266 24,646,490a582,402,321 df.a42,602,144
1905__ I 401,014,004
141,773,965 24,590,944 567,278,913 dl. 23,004,221
1906__ I 103,441,661
25,933,14'3
141,034,562 24,308,576 568,784,799
84,221,911
1907__ I 115,113,076
139,309,514 24,981,158 578,903,748
1908__ 1483,877,715
153,892,467 21,426,138 659,196,320d1. 58,135,59(
1909-- 1510,229,683
161,710,367 21,803,836 693,743,886 d1. 90,154,391
1910_-- 512,563,204
160,733,839 21,342,984 694,640,027 d8. 18,960,154
a Includes $50,174,485 paid on account of Panama Canal and $5,600,000 loaned
to Louisiana Purchase Exposition Company.
b Allowing for the premiums paid, the actual excess in 1888 Is $119,612,116; in
1889, $105,053,444; in 1890, 5105,344,496; and in 1891, $37,329,763.
d Includes in each year the disbursements on account of the Panama Canal, which
were in the fiscal year 1905, $3,918,820; in 1906, $19,379,374; in 1907, $27,198,619;
in 1908, $38,033,929; in 1909, 831,419,442, and in 1910, 533,911,673.
FOREIGN TRADE OF NEW YORK-MONTHLY
STATEMENT.-In addition to the other tables given in
this department, made up from weekly returns, we give the
following figures for the full months, also issued by our New
York Custom House.
68,687,013
UlY
68,295,105
August_
September 73,362,959
76,749,472
October
November 85,658,842
December 84,103,875
January _ 78,656,123
February.. 77,826,788
102,955,233
March
April _ _ _ _ 78,224,201
68,497,815
May
72,216,609
June
Customs Receipts
at New York.
Exports.
Imports.
1909-10.
1908-09.
1909-10.
1908-09.
1909-10.
1908-097
49,729,151
59,445,780
58,374,355
58,624,468
59,748,093
68,634,114
61,789,335
73,074,545
80,729.503
75,898,544
69,230,504
73.252,301
$
50,583,478
49,212,360
50,779,347
55,899,327
55,953,000
58,606,172
52,644,329
49,927,253
56,874,809
52,027,284
58,511,642
61,704,701
47,489,381
45,107,352
49,671,985
52,462,041
46,064,833
50.150,532
50,812,004
45,319,475
58,684,184
51,709,272
48,571,972
52,404,342
20,728,717
19,732,558
17,906,343
19,793,908
17,575,847
16,223,356
17,545,140
18,778,746
21,988,922
16,276,428
14,999,383
17,119,870
14,417,036
14,517,500
17,115,157
15,329,452
15,134,288
16,129,492
15,795,700
17,775,728
19,064,331
18,802,924
16,846,056
17,318,187
_ 935,234,035 788,520,693 652,723,702598,447,383 218,669,218 198,245,849
The imports and exports of gold and silver for the twelve
months have been as follows:
Gold Movement at New York.
Month.
July
August
September.
Octobt r
November
December _
January
February
March
April
May
June
Imports.
Exports.
1909-10.
1908-09.
470,018
600,563
491,945
685,147
1,083,967
515,727
421,946
1,912,799
2,425,426
470,490
493,413
532,143
569,791 13,405,800 1,059,656
1,100,130 2,847,470
8,400
1,353,973
335,620
506,125
1,044,600 1,974,125
50,125
851,299 8,877,100
794,980
1,343.259 8,017,750 6,445,285
714,693 3,113,576 7,843,125
819,731 2,786,542 8,818,220
2,728,363 1,644,417 21,173,385
742,911 36,168,360 6,269,450
438,769 11,094,572
619,503
578,263
127,503 5,233,050
1909-10.
9,811-The First National Bank of Lakeland, Fla. Capital, $50,000.
C. W. Dean, Pres.; J. W. Bryant, Vice-Pres.; C. M. Clayton,
Cashier. Conversion of The Citizens Bank of Lakeland.
9,812-The Coggin National Bank of Brownwood, Tex. Capital, $100,000.
S. R. Coggin, Pres.; C. H. Bencini and N. A. Perry, Vice-Pres.;
W. A. Waldrop, Cashier; B. H. Bettis, Asst. Cashier.
9,813-The First National Bank of Sterling City, Tex. Capital, $60,000.
W. L. Foster, Pres.; J. S. Cole, Cashier.
LIQUIDATION.
9,245-The Union National Bank of Dallas, Tex., was placed in voluntary
liquidation on May 28 1910.
CHANGE OF CORPORATE TITLE.
8,666-"National State Bank of Richmond" to "National State and City
Bank of Richmond, Virginia.'
6,470-The Sandy Hill National Bank, Sandy„Hill, N. Y., to "The Sandy
Hill National Bank of Hudson Falls.
INSOLVENT.
3,097-The First National Bank of Billings, Mont., was placed in the hands
of a receiver on July 2 1910.
CHANGE OF POST-OFFICE.
8,617-The First National Bank of Fort Sumner, Post-office Sunnyside,
N. M., changed to Fort Sumner, N. M., where in future mall should
be addressed.
Canadian Bank Clearings.-The clearings for the week ending July 16 at Canadian cities, in comparison with the same
week of 1909, shows an increase in the aggregate of 22.9%.
Week ending July 10.
Clearings at
1910.
CanadaMontreal
Toronto
Winnipeg
Vancouver
Ottawa
Quebec
Halifax
Hamilton
St. John
London
Calgary
Victoria
Edmonton
Regina
Brandon
Total Canada_
Merchandise Movement to New York.
Month.
[VOL. LXXXX I.
THE CHRONICLE
194
1908-09.
Stiver-New York.
Imports.
Exports.
1909-10.
1909-10.
567,942
523,787
424,670
732,077
849,774
640,994
577,955
365,049
439,488
503,764
479,415
577,053
4,068.843
3,609,187
3,624,993
2,723,840
693.410
3,646.397
3,935,840
3,208,972
3,572,439
3,442,767
3,267,495
3,971,397
1909.
Inc. or
Dec.
$
40,964,119 +10.1
45,087,361
29,290,487 +15.7
33,900,000
10,946,174 +70.9
18,706,194
5,133,105 +78.3
9,153,451
3,295,756 +12.0
3,694,025
2,572,162
2,303,819 +11.7
2,621,821 -17.8
2,154,122
1,710,935 +12.1
1,917,750
1,511,430 +16.5
1,760,228
1,391,291
1,323,377 +5.1
1,829,547 +61.2
2,948,337
1,432,208 +61.0
2,306,992
987,157 +42.3
1,404,676
1,519,582 Not included in total
463,519 Not included in total
126,996,589
103,349,935 +22.9
1907.
28,707,400
21,588,339
9,168,279
3,576,710
3,168,241
2,165,856
1,097,438
1,446,939
1,220,251
1,053,299
1,180,546
1,269,399
695,916
23,131,467
23,710,754
11,577,066
4,182,423
3,219,923
2,133,328
2,094,793
1,698,598
1,412,019
1,409,584
1,357,737
1,131,727
1,098,726
77,238,613
78,158,195
Auction Sales.-Among other securities the following, not
regularly dealt in at the Board, were recently sold at auction.
By Messrs. Adrian H. Muller & Son:
Stocks.
Stocks.
75 Franklin H. Kalbfielsch
54 N. Y. Steam Co. and $12
Co
$5 per share
stock scrip and $206 6%
27 J. G. White & Co., Inc.,
$42 lot
scrip
common
Estate of Eliza Ti. Fielder, undivided
20
100,000 Red Mtn. RR., Mining &
3i interest in Judgment N.Y.
Smelting Co., $1 each.. _ _$100 lot
Supreme Court $4,127 66,
2,400 Buff. Lockport & Roch. Ity.
with int. from April 5 1902,
Co. corn., ctfs. of deposit..$20 lot
against PettySoulard Realty
All real estate and personal property,
Co. James G. Hendrickson
moneys, bonds, book acand Sidney W. Hendrickson, as Executors of the will
counts, rapers. judgments,
claims, demands and rights
of William Hendrickson,
of action, and all other interdeceased
$6 lot
ests or rights whatsoever
Bonds.
held (by the Reorganization
$5,000 Gypsum Mfg. Co. bonds,
Committee of the Oneonta
1928; Mch.'09 coup. attached_ _350 lot
Cooperstown & Richfield
Springs Ry. Co., subject to
$40,000 Buff. Lockport & Hoch. Ry.
any claims, demands, liens;
Co. 1st 5s, 1954; Aug. '09 & subsequent coupons attached
$400 lot
pledges&offsetsordefences$9001ot
DIVIDENDS.
The following shows all the dividends announced for the
future by large or important corporations:
Dividends announced this week are printed in italics.
Name of Company.
Per
Cent.
Railroads (Steam).
Alabama Great Southern, preferred_ _ _ _
3
Atch. Topeka & Santa Fe, cont. (No. 21) 1%
'Preferred (No. 24)
23.
10,103,584 12,466,516 47,260,471 69,296,673 6.681,968 39,785,580 dBaltimore Chesapeake & Atlantic pref_ 2
Total
3
Baltimore & Ohio, common
2
Preferred
1%
Boston & Maine, common (quer.)
National Banks.-The following information regarding
3
Preferred
Canada Southern
national banks is from the office of the Comptroller of the Central
2
of New Jersey (guar.)
Currency, Treasury Department:
3%
Chic. Milw. & St. P., corn. and pref.. _ _ _
St. Paul Minn. & Om., corn. & pre!..
Chic.
APPLICATION TO CONVERT INTO NATIONAL BANKS
2
Cleve. Cin. Chic. & St. L., common__ _
APPROVED.
5
Cornwall & Lebanon
The Manufacturers' & Merchants' Bank of Buena Vista, Va., into "The Cuba RIL, preferred
2
1%
First National Bank of Buena Vista." Capital, $25,000.
Great Northern (guar.)
The Bank of Mountain View, Mo., into "The First National Bank of Illinois Central (No. Ill)
Mountain View." Capital, $25,000.
Lake Shore & Michigan Southern
Guarant'd stk. (Mich. So. & Nor.Ind.) 6
NATIONAL BANKS ORGANIZED.
3%
Louisville & Nashville
10
Mahoning Coal RR., common
June 30 to July 13.
3
9,803-The Turbotville National Bank, Turbotyllie, Pa. Capital, $25,000. Michigan Central
2
Minn. St. P. & S. S. M., leased lines
A. E. Weaver, Pres.; Joseph Walter, Wm. N. Reynolds and
3
Nashville Chattanooga & St. Louis
Thomas Watts, Vice-Presidents; Jos. W. Milnor, Cashier.
2
9,804-The Citizens' National Bank of Poland, N. Y. Capital, $50,000. National Railways of Mexico, let pref__. 2%
Stephen R. Brayton, Pres.; Wallace W. Moon, Vice-Pres.; J. W. N. Y. Chicago & St. Louis, 1st & 2(1 pref.
2
Ontario
Y.
&
common
N.
Western,
Brayton, Cashier; Ralph W. Read, Asst. Cashier.
1%
9,805-The City National Bank of Wellington, Tex. Capital, $25,000. Norfolk & Western, common (quar.).-Preferred
(guar.)
Rude,
D.
Vice-Pres.;
H.
D
J. C. Doneghy, Pres.; Sam
Creath,
3%
North Carolina
Cashier.
1%
9,806-United States National Bank of McMinnville, Ore. Capital, Northern Pacific (guar.)
4
$50,000. Arthur McPhillips, Pres.; E. D. Hendricks, Vice-Pres.; Peoria & Bureau Valley
Pitts. Cin. Ch. & St. L., corn. & Pf.(q 1.1.) 13
Geo. W. Briedwell, Cashier; Lynn Lancefield, Asst. Cashier.
5
9,807-The First National Bank of Smyrna, Tenn. Capital, $25,000. Pittsburgh dc Lake Erie
3
J. S. Gooch, Pres.; John W. Brittaln, Vice-Pres; S. L. Hudson, Reading Company, common
2
First preferred
Cashier. (Conversion of The People's Bank of Smyrna.)
9,808-The First National Bank of Burlington, Wash. Capital, $25,000 Rome Watert'n & Ogd., guar. (quar.)- - 1%
1
B. W. Nicoll, Pres.; D. H. Moss, Vice-Pres.; E. L. Wilson, Cashier. St. Louis & San Fran., 1st pref.(quar.)
1'
Utica Clinton & Binghamton
Conversion of The Bank of Burlington.
1
9,809-The First National Bank of Crossville, Tenn. Capital, $25,000. Vendetta (quar.)
Street
and
Electric
Railways.
J. W. Dorton, Pres.; J. R. Mitchell, Vice-Pres.; J. S. Reed,
3
Boston & Northern Street Ry., pref
Cashier. Conversion of The Bank of Crossville.
9,810-The First National Bank of Mertzon, Tex. Capital, $25,000. Columbus(0.)RY., pref. (guar.) (No.43) 1%
Fayette Tankersley, Pres.; W. J. Carson, Vice-Pres.; Duwaln E. Commonwealth Pow., Ry. Light, pref.Conn. Rv. & Lighting, corn. & pref. (au).. 1
Hughes, Cashier.
19(4.
When
Payable.
Aug.
ept.
Aug.
Sept.
Sept.
Sept.
Oct.
Sept.
Aug.
Aug.
Sept.
Aug.
Sept.
July
Aug.
Aug.
Sept.
July
Aug.
Aug.
Aug.
July
Oct.
Aug.
Aug.
Sept.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
July
Aug.
Aug.
Sept.
Aug.
Aug.
Aug.
Aug.
Books Closed.
Days Inclusive.
29 Holders of rec. July23a
1 Holders of rec. July29a
1 Holders of rec. June30a
1 Holders of rec. Aug.20a
1 Holders of rec. Aug. la
1 Holders of rec. Aug. la
1 Holders of roe. Sept. la
1 Holders of rec. Aug.15a
1 Holders of rec. June30a
1 Holders of rec. July 19a
1 Aug. 19 to Sept. 25
20 Holders of rec. Aug. 5a
1 Holders of rec. Aug. 8a
31
1 Holders of rec. June30a
1 Holders pf rec. July lla
1 Holders of rec. Aug. 1
29 Holders of rec. June30a
1 Holders of rec. June 30
10 July 21 to
Aug. 10
Holders of rec. July15a
29 FIolders of rec. June30a
1 Holders of rec. Sept.20a
1 July 23 to
Aug. 1
10 Holders of warr't No. 5
Holders of rec. Aug. la
15 July 31 to Aug. 15
16 Holders of rec. Aug.31a
18 Holders of rec. July30a
1 July 23 to Aug. 1
1 tIolders of rec. July12a
10 Holders of rec. Aug. 1
25 Holders of rec. July 15a
2 Holders of rec. July 23a
1 Holders of rec. July 15a
10 Holders of rec. Aug.24a
15 Holders of rec. July30a
1 Holders of rec. July18a
10 Aug. 2 to Aug. 10
25 Holders of rec. Aug.15a
Aug. 1 Holders of reo. July 16
Aug. 1 Holders of rec. July15a
Aug. 1 Holders of rec. July 18
Aug. 15 July 31 to
Aug. 15
JULY 23 1910.]
Name of Company.
THE CHRONICLE
Per
Cent.
Wizen
Payable.
Books Closed.
Days Inclusive.
Street and Electric Rwys(Concl'd).
East St. L. & Sub., pref. (qu.) (No. 17) 1% Aug. 1 Holders of rec. July15a
Aug. 1
Fairmont & Clarksburg Tract., Pre!
251 Aug. 1 July 24 to
Georgia Ry. & Electric, pref. (guar.)
131 July 20 Holders of rec. July 15
Grand Rapids Ry., pref. (quar.) (No.39) 1% Aug. 1 Holders of rec. July15a
3
1July 1 to July 31
Aug.
Harrisburg (Pa.) Traction
Aug. 13
Havana Electric Ry., corn. and prof_ _ -- 1% Aug. 13 July 24 to
1
July 30 June 24 to June 30
Indianapolis Traction & Terminal
Aug. 1 Holders of rec. July12a
Jacksonville Electric Co.. corn. (No. 12)_
Aug. 1 Holders of rec. July12a
Preferred (No. 10
Aug. 1 Holders of rec. July15a
Low. Aug. & Watery., prof. (qu.)(No.1)
Aug. 1 July 22 to July 31
Lincoln (Neb.) Tract., pref. (guar.)
Aug. 1 July 19 to July 31
Mexico Tramways (guar.)
Aug. 1 Holders of rec. July20a
Milwaukee El. Ry.& L., pf.(qu.)(No.43)
Aug. 1 Holders of rec. July13a
Montreal Street Ry.(quan)
July 30 July 21 to July 31
New Hampshire Electric Rye., pref
Aug. 1 Holders of rec. July 25
Ohio Traction, pref. (guar.)
Aug. 1 Holders of rec. July 16
Old Colony Street Ry., preferred
Aug. 2 Holders of rec. July la
Philadelphia Company, common (guar.).
Common (extra).
Aug. 2 Holders of rec. July la
Pub. Serv. Invest. Co., corn. (No. 2)_
Aug. 1 Holders of rec. July18a
Preferred (quar.) (No. 5)
Aug. 1 Holders of rec. July18a
Railways Company General
Aug. 1 Holders of rec. July 21
Railway & Light Securities, corn.(No.2) 2
Aug. 1 Holders of rec. July 16
Preferred No.11
3
Aug. 1 Holders of rec. July 16
Rio de Jan. Tram., L. & P. (quar.)- 131 Aug. 1 July 16 to July 31
Toledo Bowling Green & Sou. Trac., pref. 1% Aug. 1 July 21 to July 31
West Penn. Rys., pref. (guar.)
Aug. 1 Holders of rec. July 22
Banks.
Bowery (guar.)
3
Aug. 1 July 28 to July 31
Extra
5
Aug. 1 July 28 to July 31
Corn Exchange (guar.)
4
Aug. 1 Holders of rec. July 21
German-American
•3
Aug. 1 Holders of rec. July 29
Greenwich (guar.)
254 Aug. 1 Holders of rec. July 21
Lincoln National (guar.)
2% Aug. 1 Holders of rec. July 21a
Pacific (guar.)
2
Aug. 1 July 20 to July 31
Twenty-third Ward
3
Aug. 1 July 26 to July 31
Trust Companies.
Broadway (quar.)
134 Aug. 1 July 21 to July 31
Fartners1Loan & Trust (guar.)
12% Aug. I July 24 to July 31
Hamilton, Brooklyn (guar.)
3
Aug. 1 Holders of rec. July 25a
Kings County, Brooklyn (guar.)
4
Aug. 1 July 26 to July 31
2
Nassau, Brooklyn (quar.)
Aug. 1 July 28 to Aug. 1
Fire Insurance.
20
On dem.
Continental
Miscellaneous.
54 Aug. 29 Holders of rec. July 30
Amalgamated Copper Co. (guar.)
lg Sept. 1
American Caramel, cont. (guar.)
1
July 23 July 10 to July 24
American Cement (No. 22)
1
July 28 July 22 to July 27
American Dist. Tel. of N. J. (quar.)_ _
1% Aug. 1 July 22 to Aug. 1
American Gas & Electric, pref. (quar.)_ _
American Glue, Preferred
$4
Aug. 1 July 15 to Aug. 1
Amer. Light & Trac., corn. (quar.)_ _ _ _
234 Aug. 1 July 17 to July 31
Common (payable in common stock)_ 251stic. Aug. 15 July 17 to July 31
Preferred (quar.)
134 Aug. 1 July 17 to July 31
American Steel Foundries (quar.)
1% Aug. 15 July 31 to Aug. 15
131 Aug. 1 July 28 to July 31
Brill (J. G.), pref. (guar.)
Butte Elec. & Pow., pref. (au.)(No. 36).
Aug. 1 Holders of rec. July 5a
Cambria Steel (guar.)
134 Aug. 16 [folders of rec. July 30a
1
Chicago Pneumatic Tool (guar.)
July 25 July 16 to July 25
Clain!' (II. B.), 1st preferred (guar.). _ _
154 Aug. 1 Holders of rec. July25a
134 Aug. 1 Holders of rec. July25a
Second preferred (guar.)
Aug. 1 Holders of rec. July15a
Columbus Gas & Fuel, common (No. 1) 1
Commonwealth Edison (quar.)
134 Aug. 1 July 21 to Aug. 1
134 Aug. 1 July 21 to July 31
Computing Scale (guar.)
Consolidated Car Heating
Aug. 1 Holders of rec. July15a
2,3
Consolidation Coal (guar.)
134 July 30 July 24 to July 31
Cuyahoga Telephone, prof (quar.)_ _
134 July 31 Holders of rec. July 15a
Distillers' Securities Corp. (qu.)(No. 31)
% July 30 Holders of rec. July 9a
Distilling Co. of Amer., pref. (quar.)
1
July 29 Holders of rec. July 8a
Dominion Coal, Ltd., preferred
351 Aug. 1 July 19 to Aug. 1
du Pont(E.I.)deNemoursPow.,pref.(au.) 154 July 25 Holders of roe, July 15
Eastman Kodak, common (extra)
5
Sept. 1 Holders of rec. July 30
Edison El. Ill., Boston (ouar.) (No. 85) 3
Aug. 1 [folders of rec. July 15.
Elec. Bond & Share, pref. (qu.) (No. 21) 134 Aug. 1 July 22 to July 31
Electric Co. of America
334 Aug. 3 July 24 to Aug. 3
Federal Sugar Refg., pref. (quar.)- 151 Aug. 1 Holders of rec. July29a
Guanajuato Pow. & El., pfd. (qu.)(No.8) 2 3-10 Aug. 1 July 19 to Aug. 1
Homestake Mining (monthly) (No. 428) 50 cts. July 25 July 21 to July 25
International Nickel, cont. (quar.)
1
Sept. 1 Aug. 13 to Sept. 1
Common (extra)
3.i Sept. 1 Aug. 13 to Sept. 1
Preferred (quar.)
134 Aug. 1 July 13 to Aug. 1
Internat. Steam Pump, pref.(qu.)(No.45) 134 Aug. 1 July 21 to Aug. 1
Kansas City Breweries, pref. (quar.)___ _
134 Aug. 15 Holders of rec. July 20
Kansas City Stock Yards (guar.)
154 Aug. 1 Holders of rec. July 15a
2
Lehigh Coal & Navigation (No. 127).
Aug. 31 Holders of rec. July 30
1
Massachusetts Gas Cos.. common (quar.)
Aug. 1 Holders of rec. July 16
Michigan State Telep., corn. (quar.).__ _
131 Sept. 1 Aug. 17 to Sept. 1
Preferred (guar.)
134 Nov. 1 Oct. 16 to Nov. 1
134 Aug. 1 July 17 to Aug. Id
Preferred (quar.)
131 Aug. 1 Holders of rec. July15a
Minn. Gen. Elec., corn. (qu.) (No. 12)
3
Aug. 1 Holders of roe. July15a
Preferred (No. 23)
134 Aug. 15 Holders of rec. July 31a
Montreal Light, Heat & Power (quar.)___
Municipal Gas, Albany, N. Y.(quar.)... 234 Aug. 1 July 26 to Aug. 1
131 Aug. 15 Aug. 6 to
Aug. 15
National Carbon, preferred (guar.)
% Oct.
1 Sept. 10 to Sept. 13
National Lead,common (guar.)
Sept. 15 Aug. 20 to Aug. 23
Preferred (guar.)
135 Aug. 1 Ho ders of rec. July 15
New Englaiul Cotton Yarn, pref. (guar.)._
151 July 29 Holders of rec. Julylla
New York Air Brake (quar.)
2
July 25 Holders of rec. July 15
Niagara Falls Power
4
Sept. 15 Holders of rec. Sept. 1
Nipe Bay Co., common (NO. 1)
7
Aug. 31 Holders of rec. July 30
Preferred (No. 1)
I Holders of rec. Sept. 15
134 Oct.
North American Company (guar.)
1
Aug. 1 July 26 to July 31
North Shore Electric (guar.)
234 Aug. 1 Holders of rec. July 20a
Omaha Elec. Light do Power, pref
July 28 Holders of rec. July 5a
$4
Osceola Consolidated Mining
151 Aug. 1 July 23 to Aug. 1
Pacific Coast Co., common (quar.)
1
Aug. 1 July 23 to Aug. 1
Common (extra)
First preferred (quar.)
134 Aug. 1 July 23 to Aug. 1
134 Aug. 1 July 23 to Aug. 1
Second preferred (quar.)
1
Aug. 1 July 23 to Aug. 1
Second preferred (extra)
Aug. 26 Holders of rec. Aug. 3
People's Gas Light & Coke (quar.)._
Pittsburgh Coal, preferred (quar.)
134 July 25 Holders of rec. July 15
Pope Manufacturing, common (No. 1)... 251 July 30 Holders of rec. July23a
Preferred(quar.)
134 July 30 Holders of rec. July23a
3
Aug. 15 Holders of rec. July 30a
Procter dc Gamble, common(guar.)
Aug. 15 Holders of rec. July 30
2
Pullman Company (guar.)(No. 174)
Aug. 31 Holders of rec. Aug. la
Quaker Oats, preferred (quar.)
1
July 25 Holders of rec. July 1
Quincy Gas, Electric & Heating
_
Aug. 15 Holders of rec. July 30
Sears, Roebuck & Co., corn. (quar.)
131 Aug. 1 Holders of rec. July15a
Siegel Stores Corporation, pref. (quar.)_
151 Aug. 15 Holders of rec. Aug. 10
Silversmiths Company (guar.)
4
Aug. 1 July 16 to July 31
Torrington Company, common
1' July 25 Holders of rec. July 21a
Trenton Potteries, pref. (guar.)(No. 42)
134 Aug. 1 Holders of rec. July26a
United Cigar Mfrs., corn.(quar.)
2
Aug. 1 Holders of rec. July 25
United Dry Goods Cos., cont. (guar.)
1
Aug. 1 July 21 to Aug. 1
U.S.Bobbin & Shuttle,common
Aug. 1 July 21 to Aug. 1
Preferred (guar.)
U.S. Envelope, preferred
334 Sept.
1% Aug. 10 July 31, to Aug. 4
United Slates Motor, pref. (guar.)
134 Aug. 1 Holders of rec. July2la
U. S. Realty, & Impt. (quar.)
2
July 30 Holders of rec. July15a
U. S. Rubber, 1st pref. (quar.)
Second preferred (quar.)
151 July 30 Holders of rec. July15a
Virginia-Carolina Chem., corn. (quar.)-• 1341 Aug. 15 Aug. 6 to Aug. 15
Washington (D. C.) Gas Light (guar.).- 2% Aug. 1
Western Telep. & Teleg., preferred
234 Aug. 1 July 22 to July 30
White (J. G.) & Co., pref. (quar.)
134 Aug. 1 Holders of rec. July22a
151
195
Statement of New York City Clearing-House Banks.—The
detailed statement below shows the condition of the New
York Clearing-House banks for the week ending July 16.
The figures for the separate banks are the averages of the
daily results. In the case of the totals, the actual figures
at the end of the week are also given:
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836.
We omit two ciphers (00) in aft cases.
Banks.
003 omitted.
Capital, Surplus.
151
131
131
Specie. Legals.
Average. Average
Deposits. ReAverage. s've.
$
$
$
5
$
Bank of N. Y__
2,000,0 3,473,6 18,909,0 3,297,0
857,0
16,349,0 25.4
Manhattan Co_
2,050,0 4,105,7 29,950,0 8,745,0 1,811,0 35,750,0 29.3
Merchants' _ _ _
2,000,0 1,762,0 18,906,0 3,496,0 1,278,0
18,923,0 25.2
Mech. & Metals. 6,000,0 7,883,8 50,986,3 13,082,6 1,405,3 50,828,3 28.5
America
1,500,0 5,787,1 29,092,9 4,196,8 2,168,4 24,099,6 26.4
Phenix
1,000,0
703,8
7,349,0 1,262,0
6,361,0 26.1
365,0
City
25,000,0 30,741,6 163,916,1 40,491,5 5,193,0 155,571,8 29.4
Chemical
3,000,0 6,366,1 28,062,8 4,966,6 1,622,6 25,689,2 25.7
Merchants' Ex_
600,0
564,5
172,3
6,604,9 24.0
6,860,6 1,415,5
Gallatin
1,000,0 2,497,7
8,236,1
517,1
1,096,6
6,281,9 25.7
Butch. & Drov_
300,0
153,3
2,331,8
536,7
69,9
2,303,5 26.3
Greenwich
500,0
822,4
7,385,8 1,795,5
184,2
8,175,0 24.2
American Exch. 5,000,0 4,194,6 31,362,1 5,092,4 1,739,8 26,519,1 25.9
Commerce
25,000,0 15,893,1 138,721,1 21,090,4 8,010,8 111,636,0 26.1
Mercantile
3,000,0 2,656,3 14,933,3 1,719,9 1,113,5
11,161,8 25.3
Pacific
500,0
916,0
4,003,9 . 532,9
496,5
3,698,4 26.4
Chatham
450,0 1,037,9
7,171,0 1,039,5 1,032,2
7,746,4 26.7
People's
200,0
460,2
1,784,2
396,4
138,0
2,171,9 24.6
Hanover
3,000,0 11,707,4 60,494,0 10,617,2 6,515,1 66,726,3 25.7
Citizens' Cent
2,550,0 1,644,2 22,190,4 5,375,2
322,0 21,763,7 28.3
Nassau
500,0
521,8
7,200,4
391,1 1,349,4
7,794,4 22.3
Market& Fulton 1,000,0 1,681,8
8,679,7 1,127,2 1,024,0
8,417,9 25.5
Metropolitan
2,000,0 1,428,8 11,236,1 2,828,3
245,9 11,614,8 26.4
Corn Exchange. 3,000,0 5,352,0 40,096,0 8,321,0 5,239,0 98,957,0 27.9
Imp. & Traders' 1,500,0 7,432,1 26,191,0 3,495,0 2,397,0 23,735,0 29.8
Park
5,000,0 12,300,0 80,192,0 20,103,0 1,391,0 83,853,0 25..8
East River
250,0
102,6
1,461,6
333,9
103,2
1,666,8 26.2
Fourth
5,000,0 5,650,7 24,188,0 3,480,0 2,200,0 21,694,0 26.1
Second
1,000,0 2,038,3 12,988,0 2,894,0
179,0 12,592,0 24.4
First
10,000,0 19,855,6 94,001,5 24,873,1 2,116,8 85,965,0 31.4
Irving Exch.__
2,000,0 1,646,8 21,406,3 6,074,8 1,151,6 24,191,5 29.8
Bowery
250,0
819,0
3,549,3
828,0
65,0
3,699,0 24.1
N. Y. County
500,0 1,604,7
7,853,9 1,346,6
673,3
7,985,9 25.7
German-Amer...
3,833,1
719,9
223,9
750,0
700,7
3,602,3 26.2
Chase
5,000,0 7,472,5 66,016,6 18,040,7 5,554,8 76,138,5 30.9
Fifth Avenue
100,0 2,070,5 12,995,0 2,698,6 1,008,0 14,703,0125.2
German Exch_
200,0
881,6
4,010,3
436,8
465,8
3,960,9,22.7
Germania
200,0 1,010,0
4,789,8
935,9
503,2
5,543,3125.9
Lincoln
1,000,0 1,526,6 14,667,2 3,144,8
851,9 15,638,8125.5
Garfield
1,000,0 1,177,0
8,110,5 1,735,8
190,3
7,939,5'24.2
Fifth
250,0
489,7
3,396,0
854,7
262,8
3,922,4 28.5
Metropolis
1,000,0 2,089,8 11,568,8
612,0 2,262,4
11,473,3 25.1
West Side
200,0 1,023,4
4,273,0
923,0
218,0
4,693,0,29.5
Seaboard
1,000,0 1,913,4
17,970,0 3,867,0 1,493,0 20,379,026.2
1,000,0 2,717,7 18,503,8 4,421,4
971,6 19,635,1127.4
Liberty
N. Y.Prod. Ex. 1,000,0
315,5
738,8
7,875,8 2,098,6
9,341,3125.8
275,0 17,857,0 23.2
1,000,0
808,5 19,894,0 3,883,0
State
5,245,7 1,100,3
515,9
332,5
14th Street_ _ _ _
1,000,0
6,255,7125.8
5,883,0
808,0
690,0
5,855,0 24.7
coal & Iron,.._ _
373,2
1,000,0
---------------------Totals, Average 132,350,0 189,131,9 1188,473,4 252,621,7 68,798,5 1177,110,2 27.3
-Actual figures July 16
1181,0(8,9 257,408,5 69,923,9 1175,368,3 27.8
On the basis of averages, circulation amounted to $48,460,700 and United States
deposits (included in deposits) to $1,689,300; actual figures July 16, circulation,
$48,465,000; United States deposits, $1,667,700.
The State Banking Department also now furnishes weekly
returns of the State banks and trust companies under its
charge. These returns cover all the institutions of this
class in the whole State, but the figures are compiled so as
to distinguish between the results for New York City (Greater
New York) and those for the rest of the State, as per the
following:
For definitions and rules under which the various items are
made up, see "Chronicle," V. 86, p. 316.
STATE BANKS AND TRUST COMPANIES.
Week ended July 16.
131
131
Loans.
Average.
Capital as of June 30_ _ _ _
Surplus as of June 30_ _ _
Loans and investments_
Change from last week_
State Banks
Stale Banks
Trust Cos.
Trust Cos.
in
in
outside of
outside of
Greater N. Y. Greater N. Y. Greater N. Y. Greater N. Y,
$
25,125,000
$
65,406,000
$
*9,033,000
$
*8,375,000
37,935,400
171,281,300
*10,866,851
*13,077,768
290,319,900 1,051,417,800
—1,427,000 —4,566,300
91,670,200
—87,400
137,861,300
+733,900
Specie
Change from last week
48,017,900
—417,700
117,636,200
—2,785,700
Legal-tenders & bk. notes
Change from last week
26,334,200
—273,700
13,316,400
—115,900
Deposits
Change from last week..
336,685,600 1,127,483,200
—1,549,700 —7,809,100
96,174,400
+686,800
143,551,600
—571,200
Reserve on deposits
Change from last week_
95,130,500
+1,007,900
19,077,300
+466,200
18,403,400
—645,800
20.5%
20.1%
13.4%
13.8%
P.C. reserve to deposits
Percentage last week
+ Increase over last week.
29.0%
28.4%
136,445,500
—3,500,200
tf,
15.9%
16.0%
— Decrease from last week. * As of March 25.
Note.—"Surplus" includes all undivided profits. "Reserve on deposits' includes, for both trust companies and State banks, not only cash items, but amounts
due from reserve agents. Trust companies in New York State are required by
aw to keep a reserve proportionate to their deposits,the atio varying according to
location as shown below. The percentage of reserve required is computed on
the aggregate of deposits, exclusive of moneys held In trust and not payable within
thirty days, and also exclusive of time deposits not payable within 30 days, repre
sented by certificates, and also exclusive of deposits secured by bonds of the Stat
of New York. The State banks are likewise required to keep a reserve varyin
according to location, but in this case the reserve is computed on the whole amount
of deposits, exclusive of deposits secured by bonds of the State of New York.
—Trust Cos.—
—State Banks—
Of
Reserve Required for Trust Companies
Total
Of
Total
which
Reserve
and State Banks.
which Reserve
Location—
Required in Cash.Required. in Cash.
15%
25%
15% A
15%
a Transfer books not closed. b Also declared 34% payable Nov. 1 to holders of Manhattan Borough
20%
10%
10%
record Oct. 1. d Correction. e Declared 4%, payable 2% Aug. 1 to holders of Brooklyn Borough(without branches in Manhat.)_15%
10%
734%
15%
rec. July 15 and 2% Feb. 1 1911 to holders of rec. Jan. 15 1911. f Declared 5%, Other Boroughs(without branches in Manhattan) 15%
15%
15%
15%
25%
payable in quarterly installments. g Declared 4%, payable in quarterly install- Any Borough with branches in Manhattan
Elsewhere In State
10%
5%
ments.
15%
6%
THE CHRONICLE
196
The Banking Department also undertakes to present
separate figures indicating the totals for the State banks and
trust companies in the Greater New York not in the Clearing
House. These figures are shown in the table below, as are
also the results (both actual and average) for the ClearingHouse banks. In addition, we have combined each corresponding item in the two statements, thus affording an aggregate for the whole of the banks and trust companies in the
Greater New York.
NEW YORK CITY BANKS AND TRUST COMPANIES.
Week ended July 16.
Clear.-Hou,e Clear.-House State Banks & Total of all
Banks.
Banks.
Trust Cos, not Banks& Trust
ActualFigures
in C.-H. Aver. Cos. Av rage.
Average.
Capital as of June 30_ _
132,350,000
132,350,000
74,581,000
206,931,000
Surplus as of June 30_ _
189,131,400
189,131,400
179,347,900
368,479,300
Loans and investments 1,181,068,400 1,188,473,400 1,143,029,500 2,331,502,900
-4,862,500 -24,404,700
Change from last week -15,573,300 -19,542,200
Deposits
1,175,368,300 1,177,110,200 a1,123,267,000 2,300,377,200
Change from last week
-8,704,100 -16,167,300
-625,300 -7,463,200
Specie
Change from last week
257,408,500 252,621,700
+13,174,200 +11,927,000
124,259,600
-2,863,100
376,881,300
+9,063,900
68,798,500
+2,023,300
b22,110,400
+33,700
90,008,900
+2,057,000
327,332,400 321,420,200
+14,594,900 +13,950,300
c146,370,000
-2,829,400
467,790,200
+11,120,900
22,964,600
-257,200
22,964,600
-257,200
169,334,600
-3,086,600
490,754,800
+10,863,700
Legal tenders
Change from last week
Aggr'te money holdings
Change from last week
Money on deposit with
other bks. & trust cos
Change from last week
•
Total reserve
Change from last week
69,923,900
+1,420,700
327,332,400 321,420,200
+14,594,900 +13,950,300
Percentage to deposits
requiring reserve_-_
Percentage last week_
27.34%
25.98%
27.87%
26.55%
We omit two ciphers(00)in all thesefigures.
Capital
and
Surplus
Banks.
Boston.
June 25__
July 2__
July 9__
July 16_ _
Phila.
June 25_ _
July 2_ _
July 9_ _
July 16_
Loans,
Specie.
Legals. Deposits. a Circulation.
40,300,0
40,300,0
40,300,0
40,300,0
202,066,0
201,139,0
202.399,0
200,757,0
21,735,0
21,802,0
23,293,0
23,945,0
5,201,0
4,911,0
4,820,0
5,667,0
56,315,0
56,315,0
56,315,0
56,315,0
255,414,0
256,657,0
252,779,0
251,301,0
67,958,0
66,678,0
65,295,0
66,649,0
237,731,0
246,876,0
252,883,0
252,850,0
7,518,0
7,520,0
7,520,0
7,513,0
138,008,4
163,266,9
154,243,0
170,560,0
297,463,0
299,856,0
291,845,0
293,445,0
16,293,0
16,344,0
15,988,0
16,196,0
141,473,0
181,140,8
139,402,9
146,544,2
Imports and Exports for the Week.-The following are
the imports at New York for the week ending July 16; also
totals since the beginning of the first week in January:
FOREIGN IMPORTS AT NEW YORK.
For week.
1910.
Dry Goods
General Merchandise
Total
Since Jan. 1,
Dry Goods
General Merchandise
Total 28 weeks
1909.
1908,
1907.
$2,995,991 $3,141,674 $2,264,117 $3,178,205
13,705,212 12,449,406
8,468,521
10,848,556
--------------------$16,701,203 $15,591,080 $10,732,638 $14,026,701
$85,623,609 $92,392,912 $63,076,778 $102,339,368
424,314,583 374,602,231 267,329,608 388,469,863
-------------------$509,938,192 $466,995,143 $330,406,386 $490,809,231
The following is a statement of the exports (exclusive of
specie) from the port of New York to foreign ports for the
week ending July 16 and from Jan. 1 to date:
EXPORTS FROM NEW YORK FOR THE WEEK
1908.
1909.
1910.
For the week
Previously reported
+ Increase over last week. -Decrease from last week.
a These are the deposits after eliminating the item "Due from reserve depositories
and other banks and trust companies in New York City:" with this item included,
deposits amounted to $1,241,255,600, a decrease of $7,618,200 from last week. In
the me of the Clearing-House banks, the deposits are "net" both for the average
.and the actual figures. b Includes bank notes. c Of this amount State banks held
315,417,400 and trust companies $130,952,600.
Clearings
a Including Government deposits and the item "( tie to other banks." At Boston
Government deposits amounted to $3,096,000 on July 16, against $3,152,000 on
July 9.
17.5%
17.5%
27,142,650
33,490,325
Surplus reserve
Lxxxxi.
1907.
$12,943,363 $14,313,967, $10,167,249 $12,178,811
336,458,381 323,445,386 350,193,381 333,002,817
- -$349,401,744 8337,759,353 $360,360,630 $345,181,728
Total 28 weeks
The following tab e shows the exports and imports of
specie at the port of New York for the week ending July 16
and since Jan. 1 1910, and for the corresponding periods in
The averages of the New York Clearing-House banks 1909 and 1908:
EXPORTS AND IMPORTS OF SPECIE AT NEW YORK.
combined with those for the State banks and trust companies
in Greater New York outside of the Clearing House compare
Imports.
Exports.
Gold.
as follows for a series of weeks past:
Week.
COMBINED RESULTS OF BANKS AND TRUST COMPANIES IN
GREATER NEW YORK.
We omit two ciphers in all these figures.
Week
Ended.
Loans and
Investments.
May 14_ _
May 21- _
May 28- _
June 4_
June 11_ _
June 18_ _
June 25_ _
July 2_ _
July 9..
July16._
3
2,359,492,5
2,360,057,4
2,365,681,4
2,371.700,9
2,358,172,2
2,361,489,8
2,372,896,1
2,390,776,1
2,355,907,6
2,331,502,9
Deposits.
2,303,523,4
2,310,714,3
2,323,016,9
2.:329,930,0
2,329,091,5
2,338,192,9
2,355,576,7
2,368,248,4
2,316,544,5
2,300,377,2
Specie.
363,555,7
375,170,7
380,847,3
378,288,5
379,990,2
383,945,9
388,859,0
382,979,6
367,817,4
376,881,3
Great Britain
France
Germany
Tot. Money Entire Res. West Indies
Legals.
Holdings. on Deposit. Mexico
South America
$
• All other countries
88,234,6 456.790,3 478.676,3
89,934,4 465,105,1 486.670,6
Total 1910
91,079,1 471,920,4 493,964,4
Total 1909
89,901,4 468,192,9 491.1353
Total 1908
90,802,3 470,792,5 493,105,7
Silver.
91,322,5 475,269,4 497,976,7 Great Britain
91,680,9 480,539,9 502,770,4 France
90.091,9 473,071,5 496,189,8 Germany
88,851,9 456,669,3 479,891,1 West Indies
90.908,9 467,790,2 490,754,8 Mexico
South America
Banks.-Thefol owing is All other countries
Reports of Clearing Non-Member
the statement of condition of the clearing non-member
banks for the week ending July 16, based on average
daily results:
We omit two ciphers(00)in all these figures.
Banks.
Capital
Surplus.
Loans,
Disc'ts
and
Investments.
Legal
Tender
Specie. and
Bank
Notes.
Deposit with
Clearing
Agent.
N. Y. City
Boroughs of
8
Man.& Brx.
$
$
145,3
265,8 1,365,0 141,9
62,7
Wash. Ilgts 100,0
141,5 1,397,1
29,4 205,3
60,0
Century _ -- 200,0
596,3
400,0
333,2 5,681,2 792,4 441,9
Colonial __ _
746,5 6,255,0 588,0 540,0
300,0
875,0
Columbia _
167,0 1,039,6
93,7
200,0
68,7
121,7
Fidelity .._
530,4 3,266,0
Jefferson_ _
500,0
74,9 461,9
244,9
313,2 2,862,4 529,3
250,0
43,5
Mt. Morris_
448,3
364,1 3,707,8
43,1 564,5
200,0
536,3
Mutual --- _
440,0 3,982,0 319,0 971,0
996,0
100,0
Plaza
53,8
269,5
114,0 1,890,2 163,7
23rd Ward_
200,0
256,4
924,0 8,685,6 1,231,5 1,000,0
Union Ex N 1,000,0
271,3
47,7 754,9
449,4 4,077,8
Yorkville .. _
100,0
67,0
267,0
252,7 2,393,0 205,0
New Neth'd 200,0
36,2
65,8
Batt.Pk.Nat 200,0
150,8 1,299,2 131,5
99,7
23,5
300,0
310,5 1,979,5 451,5
Aetna Nat_
Borough of
Brooklyn.
281,3
504,6 3,125,0
28,0 431,0
Broadway... 200,0
871,5
802,4 5,829,9 475,2 327,9
Mfrs.' Nat. 252,0
775.4 11,447,0 371,5 1,409,6 1,426,0
Mechanics'.. 1,000,0
Nassau Nat. 750,0
984,8 7,435,0 628,0 311,0 1,736,0
646,0
580,4 3,926,0 104.0 517,0
Nat. City_ _
300,0
243,5
135,4 1,915,2 130,8 102,1
North Side_
200,0
First Nat.. 300,0
400,0
83,0
594,6 3,493,0 338,0
Jersey City.
First Nat.. 400,0 1,240,3 5,136,2 306,1 373,9 1,507,2
256,5
45,2
Hud.Co.Nat 250,0
753,1 3,120,9 139,9
Third Nat_ _
339,6
200,0
398,0 2,110,8
48,8 144,0
Hoboken.
First Nat
162,7
27,0
220,0
620,5 2,967,5 151,9
Second Nat. 125,0
57,8
96,2
238,7 2,701,5
97,8
Other
Banks,
&c.
Net
Deposits,
Total 1910
Total 1909
Total 1908
Week.
SinceJan.l.
SinceJan
$32,150,000
$5,400
17,000
$14,918
31
4,455
3,275,842
2,941
88,311
4,076
8,828,166
41,900
$22,400 $44,300,363
2,7,18,000 66,187,802
1,049,631 47,126,375
$8,528
3,399,868
314
322,809
117,894
1,447,781
754,419
$110,277 $6,051,613
106,142 5,838,857
57,011 11,495,967
$839,230 $21,421,330
1,209,600
423,645
61,044
717
26,255
4,550
---------$839,947 823,146,424
1,243,908 25,692,929
758,294 22,828,247
172
49
25,431
3,088
4,303
$13,344
1,180
7,824
49,193
731,347
704,253
785,512
$33,043 $2,292,653
127,706 2,847,945
58,812 1,701,952
Of the above imports for the week in 1910, $_ _ were
American gold coin and $ __ American silver coin. Of
the exports during the same time, $5,400 were American gold coin and $_ _ __ were American silver coin.
Aavating anti Financial.
16,8 1,369,4
94.5 1,687,0
222,5 7,108,5
7,168,0
1,061,8
263,8 3,590,9
112,4 3,775,8
5,3 4,142,4
5,210,0
2,073,5
8,810,5
257,2 5,269,3
5,0 2,542,0
1,153,4
31,7 1,884,0
233,4 3,525,1
142,8 6,539,1
237,6 14,856,4
8,158,0
189,0 5,050,0
111,3 2,250,0
38,0 3,221,0
310,0 6,017,5
191,3 2,697,9
18,6 2,269,5
176,6 2,778,1
181,9 2,847,2
!rot. July 16 8,447,0 13,131,6 103089,4 7,662,6 8,662,8 /3,181,6 2,839,7 117056,3
-Xot. July 9 8,447,0 13,131,6 102889,6 7,450,8 8,616,6 15,020,7 3,052,7 118712,0
'lot. July 2 8,447,0 12,997,8 102879,6 7,739,1 8,473,5 14,256,3 2,357,8 116969.8
INVESTMENT SECURITIES
Our eight-page circular No.687 describes several Issues of sound
Investment bonds yielding about 4
to 5 WY°.
Spencer Trask & Co.
43 EXCHANGE PLACE, - - - NEW YORK
Branch offices: Chicago. ill., Boston. Mass.. Albany, N. Y.
WHITE, WELD & CO.
Members New York Stock Exchange
5 NASSAU STREET,
NEW YORK
THE ROOKERY.
CHICAGO
BANKING and EXCHANGE of every description In connection with
EXPORTS St IMPORTS
International Banking Corporation
60 Wall St.. New York.
CAPITAL & SURPLUS. 56,500.000
BRANCHES and AGENCIES throughout the WORLD.
THE INTERNATIONAL BANK
Boston and Philadelphia Banks.-Below is a summary of
tthe weekly totals of the Clearing-House banks of Boston
sand Philadelphia.
Organized under the Laws of N. Y. State.
60 Wall St.. New York.
Accounts invited. Interest paid on Term Deposits.
THOMAS H. HUBBARD. President.
JULY 23 1910.]
THE CHRONICLE
I
azette.
Vaulters'
Wall Street, Friday Night, July 22 1910.
The Money Market and Financial Situation.-The dividend announcements during the week have had an important
influence upon the security markets. Not much surprise was
caused and little depression resulted from the passing of
Chicago & Alton's dividend, early in the week, but later,
when the dividend on National Lead was cut from 5 to 3%,
Lead common dropped 173/ points and the entire market
was weak in sympathy. Such action, naturally, raises the
question as to what other stocks may be similarly treated.
As a matter of fact, special circumstances seem to explain
both these dividend changes.
Other than these matters, the developments of the week
have been generally favorable. The threatened strike of
Pennsylvania trainmen which a week ago seemed imminent
is in process of adjustment by arbitration. Both wheat and
cotton, although more or less irregular, have shown a tendency to decline on crop news, and in many cases railway
gross earnings show a large traffic movement. The bulk of
the gold offered in the London market on Monday was secured for shipment to New York, and a consignment is reported to be coining from Mexico. At the same time, the
local banks have been gaining in their transactions with the
Sub-Treasury, and call loan rates have been down to 1
The decline in the price of cotton which has already taken
place, and the prospect of a further tendency in the same
direction, is a matter the importance of which is not likely
to be over-estimated. A free export movement of cotton
during the coining season will be of great benefit in enlarging
our foreign trade balance.
The open market rates for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
4%. To-day's rates on call were 2@,23/2%.
from 1% to 23
Commercial paper quoted at 5@53% for 60 to 90-day endorsements,5%@5%% for prime 4 to 6 months'single names
and 6(:),6%% for good single names.
The Bank of England weekly statement on Thursday
showed a decrease in bullion of £174,782 and the percentage
of reserve to liabilities was 51.27, against 50.32 last week.
The rate of discount remains unchanged at 3%, as fixed
June 9. The Bank of France shows an increase of 8,075,000
francs gold and a decrease of 8,850,000 francs silver.
NEW YORK CITY CLEARING-HOUSE BANKS.
1910. '
Averages for
week ending
July 16.
....
Differences
from
previous week.
1909.
Averages for
week ending
July 17.
1908.
Averages for
week enfing
July 18.
S
8
$
Capital
132,350,000
126,350,000 126,350,000
Surplus
189,131,400
174,450,100 165,169,100
Loans and discounts_
1,188,473,400 Dec. 19,542,200 1,345,586,500 1,264,688,300
Circulation
56,020,100
48,460,700 Dec.
49,259,200
11,200
1,177,110,200 Dec. 7,463,200 1,423,472,800 1,346,013,200
Net deposits
1,689,300 Dec.
10,001,700
U. S. dep. (incl. above)
1,997,700
36,800
252,621,700 Inc. 11,927,000 309,242,700 310,163,600
Specie
Legal tenders
68,798,500 Inc. 2,023,300
79,068,100
81,194,700
Reserve held
25% of deposits
Surplus reserve
Surplus, excl. U.S. dep
321,420,200 Inc. 13,950,300
294,277,550 Dec. 1,865,800
390,437,400
355,868,200
27,142,650 Inc. 15,816,100
34,569,200
52,728,400
27,564,975 Inc. 15,806,900
35,068,625
55,228,825
389,231,700
336,503,300
Note -The Clearing- Millie- now issues a statement weekly show ng the actual
condition of the banks on Saturday morning as well as the above averages. These
figures, together with the returns of separate banks, also the summary issued by the
State Banking Department,giving the condition of State banks and trust companies
not reporting to the Clearing House, appear on the second page preceding.
Foreign Exchange.-Operations in foreign exchange have
not been of large volume during the week. Moderate offerings of bills were sufficient to cause recessions, while the
market was equally responsive to inquiries for bills. The
immediate outlook is regarded as peculiarly uncertain.
To-day's (Friday's) nominal rates for sterling exchange
were 4 843/ for 60-day and 4 86% for sight. To-day's
actual rates for sterling exchange were 4 8345@4 8355 for
60 days, 4 8550@4 8555 for cheques and 4 85%@4 8580 for
cables. Commercial on banks 4 83@4 833 and documents
%@4 83 Cotton for payment 4 823/
for payment 4 823
2@
4 829 and grain for payment 4 83@4 833(. .
To-day's (Friday's) actual rates for Paris bankers' francs
were 5 20%@5 20 less 1-16 for long and 5 183 less 1-16(4)
5 18% less 1-32 for short. Germany bankers marks were
94/
8@9 11-16 for long and 95 less 1-32@95 for short.
Amsterdam bankers' guilders 403 less 1-16@403 for short.
Exchange at Paris on London 25fr. 20%c.; week's range,
4c. high and 25fr. 19 c. low.
25fr. 213
Exchange at Berlin on London, 20tn. 453
%pf.; week's
2pf. low.
range, 20m. 463pf. high and 20m. 443/
The range of foreign exchange for the week follows:
Sterling ActualHigh for the week
Low for the week
Parts Bankers' FrancsHigh for the week
Low for the week
Germany Bankers' MarksHigh for the week
'
Low for the week
Amsterdam Bankers' Guilder
High for the week
Low for the week
Cheques.
4 8570
4 8530
Sixty Days.
4 83%
4 833%
Cables.
4 8590
4 853% .
5 20 less 1-16
5 183% less 3-32
5 1834
5 203/, less 1-16 5 1834 less 3-32 5 1834 less 1-32
94 11-16 '
94 9-16
95
94 15-16
95 1-16
95
40 25
40 22
40 30
40 26
40
30 96
.
•
The following are the rates for domestic exchange at the
undermentioned cities at the close of the week: Boston,
5@7Ac. per $1,000 discount. Chicago, 15c. per $1,000
premium. San Francisco, 70c. per $1,000 premium.
197
Charleston, buying, par; selling 1-10 premium. St. Louis,
15c. per $1,000 premium. New Orleans, commercial, 25c.
per $1,000 discount; bank, 90c. per $1,000 premium.
Savannah, buying, 75c. per $1,000 discount; selling, 75c.
per $1,000 premium. Montreal, 313jc. per $1,000 discount.
State and Railroad Bonds.-A prominent feature of the
bond market this week has been the demand for New York
State canal 4s, $285,000 of which were taken on the Exchange at steadily advancing prices from 1013/ to 102. Sales
of $5,000 Tennessee settlement 3s were also made at 95%.
The market for railway and industrial bonds has been unusually dull, the transactions averaging but a trifle over
$1,000,000 per day, par value. These sales were widely
distributed, however, including a large number of issues.
Fluctuations have again been limited to fractions and net
changes are in most cases to a lower level.
Atchison cony. 4s are exceptional in an advance of 1 point,
and Burlington & Quincy joint 4s and Reading 4s have been
relatively strong features. Several issues which have been
more or less active close unchanged, including American
Tobacco 4s,St. Louis & San Fran.5s and Pennsylvania 3%s.
United States Bonds.-Sales of Government bonds at the
Board are limited to $3,000 4s coup. at 1143
%. The following are the daily closing quotations;for yearly range see third
page following.
Interest
Periods
25, 1930
registered €1-Jan
is, 1930
coupon Q-Jan
is, 1908-18
registered Q-Feb
3s, 1908-18
coupon Q-Feb
Is, 1925
registered Q-Feb
is, 1925
coupon Q-Feb
is, 1936_Panama Canal regis Q-Feb
is, 1938_Panama Canal regis Q-Nov
July 1 July
16
18
July
19
July
20
July
21
July
22
.100%1.100U *100% *100% *100% *10034
*100%'*100% *1005
% *100% *1003%.*1003%
.10134 .10134 *10134 *10134 4.10134 *10134
*101341.101g *10134 *10154 *10154 *10134
3 *114%
*114%4114M '1i4'% *114%
8 •1143%
*1143%I*1143/, *1143% *11434 •11434 11434
*1003% *1003/, •1003% *1003% *1009/, *1003%
*100M1.1003% *1003
% *1003% *1003% *100%
* This is the price bid at the morning board; no sale was made.
Railroad and Miscellaneous Stocks.-The transactions in
stocks have been limited in volutne, even for the season,
amounting on Tuesday to only 227,000 shares, the third
smallest record of the year. The tendency of prices has been
towards a lower level, to-day's market being especially weak
and practically the entire active list closes frotn 2 to 5 points
lower than our last quotations.
Attention has been directed more largely than usual to the
miscellaneous list, owing to irregularity of the copper stocks
and a sensational decline in National Lead, as noted above.
This stock closes to-day 203/i points below its selling price
on Wednesday.
Canadian Pacific and the "Soo Line" shares have been
freely offered on the crop situation in the Canadian Northwest. The former has declined 5 points and the last-named
stock is 103/y points lower than last week. Reading has lost
53% and Union Pacific 43 points within the week. On the
other hand, Northern Pacific and Pennsylvania are only
fractionally lower. Amalgamated Copper is the only active
stock that closes with a net gain. Anaconda Mining and
New York Air Brake are unchanged.
For daily volume of business see page 205.
The following sales have occurred this week of shares not
represented in our detailed list on the pages which follow:
STOCKS.
Sales
Week ending July 22. for
Week.
Range for Week.
Lowest.
Highest.
Batopilas Mining
1,400 8234 July 21 $234 July 21
Canadian Pac subscrip
tion receipts 4th paid_
40( 175 July 22 17854 July 22
Cent & Sou Amer Teleg_
5( 115 July 21 115 July 21
General Chemical
10( 94 July 22 94 July 22
Preferred
150 10334 July 21 10334 July 21
Keokuk & Des Moines_ _
10( 5 July 20 5 July 20
Lackawanna Steel
100 40 July 21 40 July 21
Range since Jan. I.
Lowest.
Highest.
$2% June $334
174
115
93
10134
5
40
Feb 193
Jar 120
June 110
June 107
June 9
June 45
Jan
May
Jan
Jan
Mch
Jan
May
Outside Market.-A sudden improvement in copper shares
on the Exchange, attributed to reports of an agreement
among producers to restrict output, caused a like improvement in copper shares on the "curb." This movement as
quickly subsided and gains in most instances were wiped
out. The wide fluctuations and unusually heavy sales
of Standard Oil also produced somewhat of a sensation.
British Columbia Copper sold down from 4 8 to 43
4 and up
to 5. Butte Coalition went down from 173 to 16% and
up to 18%, moving buck finally to 173. Chino Copper
weakened from 103
4 to 103, then ran up to 12, the close
to-day being at 113
%. Giroux fluctuated between 63% and
6% and ends the week at the low figure. Greene Cananea
sold between 6% and 7. Miami Copper, after weakening
from 173 to 16%, improved to 193%, but reacted, the final
figure to-day being 183%. Kerr Lake rose from 8 to 8% and
5
Nipissing declined from 103
dropped to 7/s.
4 to 103..
Among miscellaneous securities Standard Oil was conspicuous
for its sharp declines and advances. After a loss of 15 points
to 585 it rose to 598; then fell to 587. It sold up again to
595 and to-day weakened to 590. American Tobacco lost
5 points to 410. Intercontinental Rubber declined from
21' to 20% and recovered to 22%. United Cigar Mfrs.
common sold between 67 and 673/i and finally at 673.
Among bonds Western Pacific 5s advanced from 92% to
4 and recovered to 93. N. Y. State Canal
933,sank to 923
Improvement 4s sold up from 1003% to 100% and were transferred to the Stock Exchange, where sales were made from
1013/b to 102.
Outside quotations will be found on page 205.
New York Stock Exchange-Stock Record, Daily, Weekly and Yearly
OCCUPYING TWO PAGES
sTOCKN-H10IIleST AN!) £0W587 SALE' PRICES
Sceurday
July 16
Monday
July 18
Tuesday
July 19
Wednesday
July 20
Thursday
July, 21.
Friday
July 22.
s'cues 01
ihe
11,eat
Shares.
STOC KS
NEW YORK STOCK
EXCHANGE
Range Since Januao 1.
On oasis of 100-share tom
Lowest
I/17hrst,
Railroads
*31
50
*29
38
A an Arbor
25 Feb 25 30 Mch 2
*29
*29
36
35
*29
*29
35
35
72 *69
72 *69
11. Do pref
4812 Feb 23 7212 Mch 8
*69
*69
72 *69
72
*69
73
72
9814 0914 9712 9834 98
99
9858 9938 973.1 9918 0658 9838 59,610 Atch Topeka & Santa Fe 9134 J'ne30 12413 Jan 3
x07 J'ly 1 10414 Jan 10
10018 10018 *99,8 10018 *0934 10018 *99 100
Do pref
9034 09,8 9914 9038
700
11213 11212 *110 11213 112 112
104 J'ly s 13713 Jan 5
112 11212 112 11214 109 110
1,600 Atlantic Coast Line it R
10434 J'no3i, 11918 Jan 8
10938 10912 10812 109
10878 10914 10878 10912 10878 10011, 10734 10878 5,820 Daltimore & Ohio
*89
91
*89
89 J'ly 3 94 Jan 7
*89
91
91
*88
91
01
*89
200 _11, Do pref
90
00
6812 Feb 7 8238 May21
7738 7734 76
7712 761s 7714 77
7634 16,150 Brooklyn Rapid Transit_
7778 7638 7718 75
,Feb 8 19814 May25
176,
18514 18534 18434 18634 184 18513 18514 186
18412 18538 17912 18478 16,618 lanadian Pacific
6012 J'ly 20 70 Jan 4
7214 6012 601, *6112 6434 *___ 05
160 Vanada Southern
7214 *60
*-;7,- 7214
260 J'ne 3 312 Jan 7
Central of New Jersey
*20,, 285 ,
260 '285 *260 280 *260 285 *260 285 *260 280
7314 7312 7278 7378 7314 7334 73
7013 J'ne30 92 Jan 3
7034 7314 15,660 Chesapeake & Ohio
7414 7258 74
(1634 Jan 3
*2312 2(1
24 J'ly' 1•_
*25
27
*25
27
2412 2412 *2418 27
160 Chicago & Alton RH
27
327
Do pref
0478 J'ne27 69 Apr 1
66 *____ 66
*-- 66
66
66
66
*2334 2414 2312 2334 23
2313 22
22 J'iy 22 3078 Jan 8
23
2,600 Chic Gt Wes', trust ctfs__
2318 2312 2313 23
4613
*45
Do pref trust etts _
47
*46
45 J'no30
48 *---- 4612 *4412 4612 *4412 4612 *46
48 Jan 10
12218 12278 121 123
120 122 34,000 Chicago Milw de St Paul ,. 11334 J'Ile..40 15838Jan 3
12213 12314 12234 12312 12114 123
14614 14034 146 14618 147 14713 14712 148 *147 148
147 147
195 J'1Y 6 17214 Jan 3
3,100 Do pref
143 143
143 143
14013 142
112 142
14213 14212 14212 143
2,550 Chicago & North Western 13834 J'ne30 18212 Jan 3
Do pref
*203 210
203 J'ue27 225 Jan 6
203 203 *202 210 *203 210 *203 210 *203 210
100
Chic St P Minn & Omaha 140 Apr 28 16212 Feb 27
*135 150 *135 150 *135 150 *135 150 *135 150 *135 150
Do pref
*150 170 *150 170 *150 170 *150 170 *150 170 *150 170
3160 Apr 25 117014 Feb 18
212 213
213 MaY24
*212 312 *214 3,4 *212 312 *212 312 *212 312
100 Chic: Un Traci ctfs stmpd
51 Jan 4
9
9
*6
614 May24
Do prof ctfs
1214 Jan 4
*7
9
913 *6
*7
10
812 *7
*6
7213 7212 *70
17412 7412 7212 7212 *70
74
7212 fly 18 9214 Mch 18
*7212 74
75
250 Cleve Cin Chic & St L
Do pref
102 *-.... 10518 *95 10518 *95 10518 *95 10518 *95 10518
100 J'ne 4 104 Jan lb
*54
55
54
5334(NY 22 6534 Feb 25
*5312 5412 *5312 5413 5334 6334
54
450 Colorado Fe Southern__
5414 54
*73
75
*72
*7212 7512 *73
74
75
74
74 XIV 15 83'Men 4
75
75
*73
100 Do 1:t preferred
*72
75
Do 2d preferred
*71
74
*71
74
74
74
74
*72
74
100
*72
74 J'Ile29 81 Jan 6
*15613
159
15538 15613 1,400 flelaware do Hudson
*15614 15713 15614 158
155 fly 6 185 Jan 3
15638 15758 *156 15913
*490 575 *500 575
100 1,01/aware Lack & West_ 520 J'ly 15 1120 Meh21
520 520 *500 525 *500 525 *490 625
30
28
21.134 2934 2934 3012 2913 2912 30
2938 3,085 Denver do Rio Grande
2752 J'ne:30 52 Jan 3
3013 29
66 J'n030 84 Jan 2
69
17118 7113 70
7013 7012 7018 7018 68
371 71
70
1.008 Do pref
Detroit United
45 J'ly 11 60 Jan 27
*____ 45
1834 Jan 3
"iir3 1119 *11 1212 ;ii" -5" *11 YilZ *11 W- *13 12
10 J'ly 1
100 Duluth So Shore de Atian
Do prat
21
2112
12112 21,2 *2112 2212 *2113 2212 *2134 2212 2178 22
21 J'iy 22 348 Jan 4
530
2413 2314 24
2518 2518 2412 25
2313 J'ne30 348 Jan 5
2412 2458 2413 2434 24
7,350
1st pref
9118 4118 *41
9018 41
3913 J'ne30 5234 Moil 8
4114 4078 41,8 *4013 4234 4012 411
1,400 Lit
32
*30
Do 2d pref
29 42 Mch 8
*30
3223
3212 *30
3213 *30
3012 J
3212 *30
3212 *30
12312 124
12413 12514 12312 12514 12218 124
12012 J'ne30 14378 Jan 3
12212 124
12,400 Great Northern pref
12314 125
5012
5213
•
*5114 53
50
45 J'IY 6 8013 Jan 4
53
5238 5258
5134 3,900 Iron Ore properties
5213 53
*52
Green Bay & %V, deb ctf13
*12
1213 J'ne 2 1818 Atch 22
1413
VS" *7_7_ 94
avana Electric
8822 Jan 20 971.: Apr V*__- 9712
*---- 9614 ;5L- 97
Do pref
97
9412 Jan 25 99 Jan 4
97 *____ 97 4.... 97 *____ 05
0712
Hocking Valley
*105 ---- *105
*11913 125 *11913 125 *11918 125 *105
102 May 5 12478 J'iy 14
Do pref
86 Feb 7 0138 J nel4
8
1
.24554 1E7.
54 1-29i3.
3 *Hi" 13018 Tio" 12913 129 fii" lir fir - 1,800 Illinois Central
12514 J'n630 147 Jan 6
*1758 183s 1734 18,4 1734 1824 18
10 J'ne30 2112 Jan 11
1814 1774 1774 1733 18
4,310 aterboro-Metropolltau _
Do pref
5034 4918 5014 5,950
5034 51
4513 Feb 8 11278 Jan 12
50
5014 5014 5014 5034 5034 50
1714 1738 1,300 Iowa Central
15 J'ne30 30 Jan 8
*17
1734 1713 1778 *1712 18
1734 1773 *1713 18
3412 3412 32
3458 3434 3414 3438 3434 3434 3434 35
32 J'iy 22 5414 Jan 3
3434 1,900 Do pref
*69
75
K0 11
*69
75
*69
75
Mstoructfirpnref 69 J'11(330 SU Feb 18
75
*69
*69
*69
75
75
28
anskasSat
2812 2718 27i8 1,200
28
28
2614 J'iy 6 4414 Jan 3
*28
30
*28
28
28
29
03
Do pref
03
*9113 63
*6113 63
6214 6214
*6214 63,2 *6214 63
2-011 J'11030 71 Jan 4
240
*1412 1713 *14
1' aka Erie 63 Wetern
15 J'n030 2534 Jan 5
1712 *1412 1712 *15
1712 *1413 1712 *1413 1713
14 Do pref
*35
43
*35
43
93
*35
45 J'ne29 6234 Jan 3
*35
43
*35
43
43
*35
*60
Long Island
60
*60
66
*60
*60
65
60 J'1Y 1 7014 Apr 14
*60
66
*60
66
66
Louisvillo
13912
& Nashville
14012 137 13914 3,600
143 143
14112 14212 14258 193 x140 14014
137 J'1722 15934Jan 5
*126 132 *126 132 *12812 132
130 130
130 130. 1130 130
504 rul anhattan Elevated..._ 123 J'n030 139 Mch 8
*24
27 *24
Minneapolis & St Louis 25 J'iy 6 5334 Jan 4
*24
2712 *24
27
*24
27 *24
27
27
pref
*35
66
*35
06
Do
*40
70 *____ 60
50 J'ne 26 80 Feb 24
*35
60
*35
66
12513 12512 12412 12512 12312 12514 12312 12412 119 12318 11512 120
145 Mch 3
5,400 Minn St P & S S Marie._ 11512 J'iy
*110 148 *140 148 *140 148 *190 148 *140 148 *140 146
Do pret
3
May
ne6
5 1525314
, 3 hlch 2
144 J
00 *87
*87
Do leased line ctfs_
861
*88
89
90 *87
Jan
00
*87
00 *87' 90
3234 3278 32
3278 3134 32
30
3134 3234 3112 32
2834 J'ly 6 6118 Jan 5
3134 7,350 Mo Kansas 43: Texas
64
64
*63
03
66
63 J'ly 22 7958 Jan 5
63
*63
60
365
65
*03
66
310 Do pref
*5858 5912 5712 5913 5818 5818 *56
5434 J'IY 6 7358 MaY23
59
1,850 Missouri Pacific
13
60
712 16
38
*126 133 *126 130 *126 130 *126 130
013 *16
26
618 16
38
513
100 Mash Chatt 63 St Louis_ 130 Jan 25 139 Jan 8
67
68
69
*66
*66
69
69
*66
*65
69
69
69
400 Viet Rys of Mex 1st pref 60 Feb 3 69 J'iy 20
Do 2d pref
*2612 2713 *26
27
2433 Jan lb 2978 May 6
*2633 2738 *2512 2733 *2614 2713 2614 2612
200
114 11412 11314 11414 11312 11418 11334 11414 11253 11312 111 11314 17,200 N Y Central & Hudson._ 11038 J'ne30 128 Zilch 0
*61
63
*61
03
5513 May 4 67 May27
6112 61,2 *6112 63
60
*81
6112 1,300 N Y Chic & St Louis__
03
Do lst pref
*100 110 *100 110 *100 110 *110 110 *100 110 *100 110
3101 fly 8 10934 Jan 21
*86
Do 2d pref
90
*8512 90
*86
*85
90
*85
90
8234 Apr 28 08 Jan 19
90 *86
00
*14912 153 *14934 15113 315113 15112 *151 155
225 NYNH do Hartford...- 149 Apr 28 162 Mch14
114551 *150 15113
144
144
144
14334 144 *116441
14334 14334
300 Subscription receipts h__ h143 :Friel() h151 Mchll
4318 4134 4234 2,400 N Y Ontario & Western_
34214
- 9234 4214 43,4 43
4318 4313 43
4034 J'ne30 50 Jan b
43
*97
9712 9714 0714
9712 9713 *97
95 Jan 25 10858 Mch21
870 Norfolk de Western
0814 9612 9634 *9634 98
Do adjustment pref.__
*8712 93
93
88 Feb 2 9114 Mch16
*83
*8712 90
00
*88
*8712 93
11714 11878 ;
11738 118
113 J'ne30 14558Jan 3
11612 11834 11734 11878 11814 119
8
16
7314
3 117
6334 14,200 Northern Pacific
acillo
Coast Co
*99 108
105 J'ne 7 11834 Jan 12
*102 110 *102 110
*90 110
*99 108
*SO 108
Do 1st pref
*85 110 *90 110
*85 110
*85 110
*85 110
*85 110
Do 2d prel
105 Feb 14 118 Jan 3
*102 110 *102 110 *102 114 *100 110 *100 114
*90 114
12612 J'ne30 13812
9
12734 12814 12738 12818 12778 12838 12778 12838 12758 12814 127 12778 41,700 Pennsylvania
0134 J'iy 22 10458110122
*9314 9613 *0314 0612 *9314 9613 *9312 9612 *9312 9513
1,710 Plttsb Cm Chic 6: St L.
94
Do pref
*105 116 *105 116 *105 116 *105 116 *105 116 *16
114 Mch10 110 Aida 1
0134
5 116
4
13718 J'iy 22 17214 Feb 18
13938 14214 13718 14034 512,300 D ceding
14234 144
13912 14314 14014 14212 14114 143
*85
88
*85
8812 *85
8812 *85
80 J'iy 22 9312 Feb 17
88
8812 *85
86
100 Lb 1st pref
86
2d pref
*93
97
93
94
90
214
94
3 9
94
34
2
*9213 9412 *3
9
22
913 3
92 J'17 22 11013 Jan' 3
90
274
600
3218 3212 3138 3212 3138 3214 3134 32,4
2814 J'iy 6 5714 Jan 3
34,850 Rock Island Company
734
7112 Hy8
nr 0
xua 13 92
9
*73
78
7438 7538 73
7538 7434 7434 7212 7434 7213 7338 4,600 Do pref
*58
Qt
L
&
San Fr,1st pref.. 6012
65
Jan
*58
*60
65
65
65
66
*58
*58
*58
65
4012 4034 39
37 J'ne 0 60 Jan 5
4212 41
*41
41
41
41
*4012 42
4014 1,200 4.7 Do 2c1 prof
2814 2513 27
2818 *27
2412 Feb 8 3412 Jan 3
28
29
*2712 2812 2712 2712 *27
1,000 St Louis Southwestern
68
67 fly 22 7712Jan 3
6838 6838 *67
67
69
67
600 Do prat
6734 6734 6734 6734 *67
113
109 J'ne30 x13814 Jan 4
.
.
1, 11414 11212 11438 11318 114
11314 11438 11218 11334 11014 11318 79,173 Southern Pacific Co
22,
8 2314 23
2014 J'ne30 3334 Jan 3
2338 23
23
23
2333 2234 2318 22
2234 5.300 Southern v tr cis stmpd53 J'ly 6 75 Jan 3
do
5512 *5414 55
5478 55
54
5418 2.450 Do pret
*5414 5513 *5413 5512 53
&
2778 *2634 2714
2813 2818 28
26 J'iy 6 3834 Jan 3
28
2758 2758 2734 2734 *27
500
812 J'ne 1 1912 Jan 7
10
Avenue (N Y) -1058
1012
934 1014 8,000
912 1012 1038 1013 1038 1078 10
Toledo Railways & Light
612 J'iy 6 1534 Jan 12
*7
9
7
7
10
9,2 *7
*8
Toledo St L & Western__
1 4 26
*20
25
2234 2212 2253 *21
34
8 21114
214
2 28
2014 J'ne 18 5438 Jail 4
2258 2212 2212 *263
4812 4712 4814 4734 4814 4814 4838 4034 48
48
4514 fly 22 7214 Jan 4
4514 4714 4,020 Do pret
573 Twin City Rapid Transit 100 J'iy 22 11713 Jan 8
*10712 109
10634 10634 100 100
10712 10712 *10612 109 *10634 100
3
15934 16234 16118 16258 16134 16318 15934 16214 15734 16114 425,600 Talon Pacitlo
, 6 204243144
162 163
15434 J'13
Do prat
9134 *90
9178 01
*91
89 J'n030 10334 Jan 7
92
9018 1,600 w
9018 9018 9014 9014 90
*26
030
• 30
30
*25
80
Jan
*28
J ne
31
30
100 Unit Rys Inv't of San Fr 2
*26
13
834 .1:n
30
2912 *25
58
*59
DO prat
68
6012 *58
5613 5612
61
47 J'ne30 1231 Jan8
60
800
59
59
*58
17
*17
10
1712 17
17
17
2734 Jan 8
17
1714 17
17
2,300
17
Do prof
.133614 3634 3513 3614 3534 36
3213 fly 22 61 Jan 3
3514 3512 3412 3538 3213 3434 9,150
4434 45
4418 4314 9334
910 We3t Maryland By
4433 4434 44
4412 44
*44
41 J'ne30 543811ch 12
44
Do pref
68
6812 *63
*6713 6834 6712 6712 *65
6714 J'ne18 7013 May19
100
6834 *64
6812 *62
3 Apr 28 10 Jan 3
418
414 4,4
413, *4
4
413
414 414 *4
413 518 1,500 Wheeling & Lake Erie_
*822 11
*812 11
Do 1st pre!
8 J'n030 23 Jan 3
*9
11
11
100
*9
914 014
*9
11
*5
Do 2d pref
6
*5
6
6
4 J'ne30 1312 Jan 3
*5
6
6
*5
6
0
600
*5
48
*49
*47
501s 47
49
610 Wisconsin Centrai
60
348
50
451, Feb 4 561,Mch 7
50
*48
50
H
I
P
Nliaba"
flange. for Pretious
Year (1909)
Lowest
20
Mel"
908 An
10014 Jan
10713 Jan
103(3 Feb
01 Nov
67 Jan
x165 Mch
6014 Jan
215 Feb
5558 Jan
5778 Feu
70 Nov
3112 Dec
5834 Dec
141 Feb
15812 Mcb
17313 Feb
208 Men
148 'Apr
16(1t2 Jan
312 Dec
734 Dec
68 Jan
100 Jan
51 Oct
764, Jan
731'
'
4 Jan
16734 Feb
535 Feb
37.8 Jan
7913 Jan
56 Jan
1414 Nov
28 Feb
2238 Mell
3612
.
1 01
2812 Mell
13633 Feb
6513 Meli
1312 Nov
39 Feb
8318 r'eu
25
Mch
-172-b745 157E
1063, J
14313 Aug
12214 (PlY
90 Apr
8278 J'ne
18938 Oct
7014 Nov
32312 Sep
0114 Dec
7434 Apr
78t, Mda
37s Dec
6434 Dec
16518 Sep
181 Aug
19812 Aug
1230 Aug
167 Aug
3180 J'ly
7 Jan
1814 Jan
83(4 Deo
105 Mch
6814 Jan
80. May
8412 Jan
200 May
(18) Apr
51 Apr
00 Feb
7134 Aug
21 Jan
3/02 Jan
39 J'ne
5634 Aug
4(s Aug
15778 Aug
881, Aug
21 Dec
103 Dec
100 Dec
88 Apr
9412 J.1,10
137 Feb 16218 Aug
1138 Meli
2578 Dec
6358 Dec
3631 Mch
2034 Nov
36 Apr
48 Sep
62 Apr
7434 Feb
82 Sep
37 Feb
6024 Aug
7512 Aug
6778 Feb
Feb
1913
2012 Aug
48 Jan
6478 J'ne
Dec
7
59 Jan
x121 Jan 1621i Aug
137 Dec 15312 Jan
51 Sep
05 Jan
81 Mob 00 Jan
132(2 Jan 14913 Jan
Apr 164'2 Aug
149
87 j
2
94 Dec
3512 Fe
5012 Oct
7814 Oct
71 Feb
7712 Aug
65 Feb
12223 Jan 142 Deo
64 Dec
9413 Apr
21 Dec
203
Aug
12013 Feb 14734 May
69 Nov
4812 Mch
100 Feb 100 Feb
7614 Apr
05 Nov
1154 Nov 17934 J'no
741471, Deo h14934 Dec
4224 Feb
5558 J'ne
8414 Jan 102 Dec
8518 Aida 9212 Jiy
13314 Feb 15912 Aug
76 Mch 11612 Dec
;106 Sep
181 M
Me
ch
ll 115 Dec
12618 Feb 15114 Sep
9978 Dec
8613 Jan
104 Feb 11614 Sep
118 Feb 17338 Sell
96 Aug
89 Mch
90 Feb 11712 Dec
2078 Feb
81 Dec
, 9434 Dec
mecb
4
8F
8
55
75
74 Dec
6034 Sep
36 Feb
2013 Feb
3538 Dec
4712 Jan
82 Dec
1145 Feb 1391$ Aug
22 Feb
39 Aug
60 Jan
7512 Deo
30 Feb
4013 Aug
1214 Dec
4213 Jan
7 May
1538 Jan
43 Feb
5473 Cot
6434 Feb 7414 Jan
97 Jan 11514 Dec
17213 Feb
Aug
44 mcb. 219
11812 Aug
47 SeD
30 Feb
77 Sep
5014 Feb
2778 Dec
15 Feb
6134 J'ne
41 Feb
5 Jig
1514 J'ly
612 J'iy
3573 Jan
1278 Jan
2573 Jan
1518 Jan
1137$ Apr
BANKS AND TRUST COMPANIES-BROKERS' QUOTATIONS,
Banks
Ask
Bid
Bid
Banks
Ash
Ask
Bid
Banks
Bid
Ask
Ask
Bid
Banks
Banks
Banks
205 Prod Each ¶
330 Filth
800 350 Irving N Ex 205
210 Mutual li___ 285
Chatham _ 320
New York
First
..-- Reserve -_
875 900- Jetforsonli- 175
175
185
180 Chelsea Ex11 200
Nassau 11...... 240
Aetna
230 Seaboard _
445 14th sm.._ 160 165 Liberty.... 025
___ New Netia'd 210
America 11- 590 610 Chemical __ 930
___ Second ____
NowYorIcCo 900
100 Fourth __ 1184
___ Lincoln-- 400 425
24211 Citizens' Ctl 155
Amer Exch.. :35
335 Sherman__
365 375 Gallatin --- 320 340 Manhattaun 320 335 Now York_ 320
Audubon __ 100
115 City
225 State 11,
N'ht &Dart] 200
300 Mark't&Ful 250 255
165 Garfield __ 2911
,.....
130 Coal de Iron 150
Battery Pk_ 120
260 12th
ard_
____ Germ-Am ¶ 140 150
Nlech&Met's 250
260 19th Ward_ 250
Boweryll___ 375
..... Colonial 11_ 350
Northern _ ___ 105 23d Ward_
..... Gerni'll EX11 985
____ Mercantile. 150
16Q
Bronxliorol 300 .
.
.
. Columbia 11. 350
Padden__
240
Union
230
Exc_
1'20218
Exch
Germania
Merch
160
170
550
I.
565
Broam Nat_ 195
205 C,,n1111,..lerce - 1201
350
Wash 'Ms 11
5340
180 Park
155 Merchants'. 175
Bryant Pk 11 155 160 Corn rAt 11
31713 32211 Gotham __ 150
280 %Vest Side n
270
MetropOlis 11 390 410 People's 1
265
155 Greenwich I 255
East River_ 145
145
Dr 140
B utch & D
Yorkville 11_
203
1MM:war- 620 630 aletropol'n¶ 200
175
____ Phenix.- 195
Century n__ 170
175
Fidelity 11-- 165
625
____
Chase
Mt Morrii¶. 250 200 Plazall
Fifth Avell_ 4113) 4500 Imp & Trad 540 500
4441
140
s are.s. IStatu baffles, a nx.u,vluemsa anu r guts.
x-r g its. 4Less taan
*Bid and a.ked pr_ces: 10 sales were made on this ay,
Sale at Stock Exchange oral auction this week, it First Installment paid, n Sold at pilvato sale at this price. a 2t1 paid. y ad paid.
Bid
165
105
390
400
135
275
.......
160
275
1350
500
Ask
175
115
125
_
290
140
....
--...
...
.....
JULY 23 1910.1
New
York Stock Record-Concluded-Page 2
Li3OCKS-111011EST AND 1.01V!SST EALS PRICES
Friday
Wednesday Taursaay
Monday
Tuesday
Saturday
July 22
July 21
July 20
July 19
July 18
July 16
Sates a
the
Week
Shares
STOCKS
NEW YORK STOCK
EXCHANGE
199
liana: &nee J3nuaii. 1
On Oasts of 100-share Gal •
Lotee.ss
Highest
t ite.tous
Range
Year (19001
Loacess
highest
industri.:14: Miscelloacco.
;270 Jan 5 190 Jan .250 Nov
5249 J'ne
Express
_ *250 . _ _ *250 ......
*250 .. - *250 . .*250 . _ *250
1678 Aug
1234 Feb
15 Jan 3
8 J'ne (
Ills-Chalmers
1O
--9
*813
8
85
853
9
..*812
9
*812
9
*812
9
*812
5713 Nov
534 Jan5
38 Feb
Do
1
J'IY
pref
2934
31
*28
*28
_
_ *28
*28
*2713*28
Nov
(.618
Feb
1
65
3
Jan
,334
J'ly
5513
Copper__ _
- 5918 -61-18 5812 -61-38 585 6078 255,100 Amalgamated
5938
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5 14
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13212 133
13214 13214 13218 13212 13214 13212 13212 133
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92 92 . 923 9238 9233 9234 *9112 9212
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26 Feb
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28
2734 2734
2814 2812 28
28
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414 1,065 Do pref
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9
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84
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104 104 *104 106 *104 100
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9913 Dec 103 Dec
ti 10613 Jan 6
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90
86 *86
86
90
_ _ *84
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2938 Nov
10 Apr
1412 J'ne30
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17 *1512 17
18
16
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16
1513 1518 1534 16
8713 Dec
40 Feb
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70
70 *62
70
70 *62
462
70 *62
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56 Aug
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Pressed
Car
5
600
31
31
3210
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32
32
32
32
3112
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155 J'ne29 200 Jan 11 169 Jan 200 Aug
15612 15612
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15614 15614 15614 15014 *155 157 1.155 157
938 J'ly
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313 Apr 7
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3212 Mch 5412 Aug
31
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1658 Feb
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31
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3018 *30
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-- *---- 116 *--,- 110 *---- 116
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Do pref
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414
19
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8512 J.
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Cast
21
3.11y
I
&
Pipe
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1418
141
1412
1512
1513 1518 1413 1518 1414 1414 *14
70 Mch 8712 Aug
0
11060
60
49 J11028 84 Jan 10
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56
556
56
556
60
62 *55
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82 Feb 5111 Dee
UnD
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71
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71
77
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4 J'ne27 11 Jan 14
7
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5
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5
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5
*4
6
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3912 Aug
24 Feb
Do pref
13 J'ly 8 2913 Jan 3
20
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15
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7
20
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20
.
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15
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20
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5758
62l
Aug
Feb
27
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3212
22
Rubber....
States
United
3
Jan
3,110
3614
3512
3618
3512
3213
3613
37
3613 *36
3613 3618 36
1613.7
1 184
22
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01
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98 Jan 12318 Aug
1,700 Do list pret
*10719 108
10713 10738 10718 10712 10753 10758 107 107 100 107
$912 Aug
6712 Feb
7113 *---- 72
400 Do 2d pret
71
75
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75 *70
7238 7213 *70
0478 Oct
4114 Feb
663 Ply 22 91 Jan 3
43148 535,500 United States Steel
49
3: 6
25
46
7018 7033 6878 7058 6913 7038 6934 7034 6814 7013 6
.11318 Ply 6 12538 Jan 3 107 Feb 131 Oct
11413 11512 8,450 Do pref
1158 11614 11513 116
11618 11614 11538 11578 11534 116
27,675 dUtah Copper_Par $10 123938 J'ne30 46014 Jan6 83918 Feb $6714 Nov
418 4212 4134 4212 423 441_2 4178 45
4113 42
5633 Dec
4078 Feb
47 Feb 3 6213 May27
5912 5914 59711 5558 5934 6712 5834 9,300 Virglnla-rolina Chem
59
5914 59 8 5878 595
11913 J'ne20 12914 Jan 4 114 Jan 123 Dec
120 120 *118 121300 Do pref
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11934 120 *118 120
57 Feb
8
Jan
73
22
Set/
75%
Apr
63
Coke
&
Coal
Iron
Virginia
64
*......
64
64
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*.....
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6 Feb
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.
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45 Jan
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Do prat
.
152 Feb 8 a195 Jan 4 300 Jan 1670 Dec
‘XJ ells Fargo & Co(A)
9.155 170 *155• 170 *155 170 *155 170 *155 170 *155 170
8514 Nov
64 Feb
6013 6012 *60
550 I' Y °stern Union Teleg_ 6014 J'ly 6 7812 Mch 9
61
61
61
6112 61
6014 6014 61
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90 Aug
74 Feb
5% 1,500 Westingh'seEl &Mtg assen 578 J'ly 22 8212 Jan 3
23
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Feb
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3
Stay
110
Met
Do
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BANKS AND TRUST COMPANIES-BANKERS' QUOTATIONS.
Bid
Banks
Brooklyn
Broadway $ 376
Brooklyn 1,_ .....
Ooney isl'ill' __
00
,
First
___
Ilillstriell
Homestead,: ___
Manutao'rer 415
Alechanlesul: 240
Aiontauk __ _Nassau .... 245
Ask
Banks
Brooklyn
____ Nat City_
110 North Side 11.
155 People's _
---- l!rosiVetP111!
lerminal 11.
125
115
-___ [rust Co's
N Y CBI'
150
160 A.:tor
270 Bankers"Fr
B'way Tr
rrust Co's Bid Ask
N Y C.:By
290 305 Carnegie .._ 120 130
150 180 Central Tr.. 1001 1025
__ Columbia... 270 280
158
120
150 160 Commercial 115
_.
___ 90 Corn wealth 150
Empire ___ 300 310
Equleble '1.38 465 485
Farm Lo&T 1700 1740
Fidelity -. 200
210
350 365
Fult:n ...... 290
.....
___ 650
150
145
Bid
Ask
frust Co's Bid
Guar'ty Tr_ 825
Guardian Tr___
.1111dson --- 170
11.1110kerb'kr 295
Law T Iderr 270
Lincoln 'Jr.. 140
Manhattan 375
Mercantile.. 700
Aletropoll'n .....
Mutual---- 130
MUt Mince __
NY Life &Tr 1100
Ask
850
175
175
305
280
145
400
740
635
.....
13212
1120
frust Co's Bid Ask
N Y Trust_ 645 655
105
Savoy
Standard 'Tr 400 410
TitleGu& Tr 490 500
Tr Co of Am 340 350
Union Trust 1350 1375
US Mtg& Tr 465 475
Unit States- 1200 1225
Van Norden __ 230
Washington 375
__
Westchester 150___
Windsor - 124 130
trust CO's
Brooklyn
Brooklyn Tr
Citizens' _
Flatbush ..,
Franklin_
Hamilton _
Home
Kings Co
L It L & Tr
Nassau ____
People's __
Queens Co_
Williamsb'e
Bid
Ask
910
130
200
220
270
108
600
305
170
300
115
......
433
140
225
2361
290
...--312
185
315'
125
100
•Lild and asked prices: no sales on this day. 4 Less than 100 shares. *Ex-rights. b New stock c Ex-dly and rights. d Now quoted dollars per share.
ISAR,at Stock Exchange or at auction this week, $ a. stook dividend. 11Banks marked with a paragraph (9) are State banks.
New York Stock Exchange-Bond Record, Friday, Weekly and Yearly
Jan. 1 1909,th,e &cc:Amiga method 01 quoting bowls was ahanyecl, an_l prices are
BONDsI...'5.
)
.•
N. Y. STOCK EXCHANE
G
i •-• t
WICKK EsniNo JULY 22
1 -zi al
Price
J•riday
July 22
1
Week's
t's,,e1 Range
Range or S.^,
,
Since
Last Sale Pccii January 1
IMO
interest"-3c.sipt ior it1'30116 an.l cLa1auiieL kmdS.
BONDS
r.3.2
N. Y. STOCK EXCHANGE It.
WEEK ENDING JULY 22
Price
July 23
I L•ange
(Peek's'
Range or (
.7-8
since
Last sale 4.;.0 January I
U. :4. tiovertititeni
i
Pia
Ask Lou, .High No Low _High Cent ot
I(Bid
Elt---(con)
High No Low _High
Ask Low
U 82s consul registered-di:130 Q.J 10034 1011
Chatt Div pur mon g 43.19311J-D'
/
2 191 7'ne'10 .... 10u 4 1011
114 I 90% Sep
/
2
U B 2s consol coupon...41930 4 100%
10034 l'ne'10.
Mao & Nor Div let g 56.1946 2-4 10038
1001
/
4 1004
110478 J'ne'08
U S 3s registered
k1018 -IP 101 14 102 11024 J'ne'10 ....'101% 10234
Mid Ga & AU Div 5s....1947 J -J 100
116 Novq./3 ...."......
U S 35 coupon
/
2102 10114 J'ne'l0.
k1918 -I? 1011
Mobile Div let g Os
101 14 103
11146 J -J 108
110 Jan'10
110 110
U S 3s con small boutts k1918 Q-10
1014 Ply'10.... 1021
/
21021
/
2 Gen lIE & B ot Us col g 55 1937 M.N 102 Salt 102
102
3 104 103
U 8 48 registered
11125:Q-F; 114%115 114% J'Iy'10 .11419(15% Cent of N J gert'l gold 68.1987 .1,1 1201
/
2121178 1214 7 120 1251
/
21211
/
2
U S 48 coupon
11125'Q-F 114% Sale 114% 114341-.3, 1141
Registered
/
2 11534
121 120% 120% 3 1294125
U S Pan Can 10-30 yr 28.k11130.Q.N 1003
.101 101 Mar'09'
1
Am Dock & Imp gu 63.4
.1
1118
27
1 -J
11019107 J'ne'10
1081
/
2
Le & Hutt E. gen gug 5a 1920 jr-J
97
Foreign Goret•inneni
Leh & Wilke B Coa 81012 31-N 1001
1001
,Ply'10 ...., 100/
/
1
2 1014
2
Argentine-Internal 5s or 1909 31-S t 9638 Sale 901
/
2 96% 251, 9534 97
Con eat guar 4%s......1910 Q-M
1.00
1,10) 1094
Imperial Japanese GovernurtI
I
N Y 8; Long iir gen g 4s 1941 m.s
Alay'10"11
1
Sterling loan 41,8
947
95
11i 941
/
2 95
11)25, F.A 4 941
/
2 1161
/
2 Cent Pacitio See so Pacific Co
2tt series 41
/
2Sale 944
9434
7: 11378 1/5% Cent Vermont let gug4s.e1920 Q-F 854 90
1125 J.j I 941
/
2
8
8539 J'uo'10
87
85
Sterling loan 4s
/
4 904 13; 884 921
1931 J-J I 897s 901
/
2 901
/
2 Chas & Say see All Coast Line
Repub of Cuba Os exten debt..'31-S!t
103,1011
103 102
/
2 104
Cites & Ohio gold Us
a1911 A-0
100% May'10 ....! 1001
/
2 101 14
/
4Ply'10 .....19639 971
Ban Paulo(Brazil)trust 58 19111 J -1 4 964 971
/
2 061
Gen funding & unlit 58.19211 .1.3
/
2
104 102 J'Iy'10 ....'102 1051
/
2
1
4 J'ly'10 ....' 9634 99%
U 8 01 Mexico 8 I g Sot 1899,Q-J it 96313 971
1st consol g Os
/
2 97/
1939 M-N 110 4 1l1%1105 11078 7 11075 1144
/
4 961
/
2 2, 9414 97..,
Gold 4s of 1904
/
2 961
11154 J.131 95% 961
Registered
1939 M-N
1121
/
21;01'1u
1 1121
/
21121
/
2
t These are pr ices on the basis 01 $5 to g.
General gold 41
100%
/
2
s
1114r2 M.13
Sabi 1001
/
2 1011
/
2•.4:11 1/1) 1031
/
2
State and City Securities
Registered
I
1992 M-8
1024 11117.J'nu'lt)
1 11)178111178
N Y City-414s recta
/
2 10034 328, 1001
1900
/
21016
_ 10038 Sale 1001
. Convertible 4/
1
25(wit is) 1930 F,sk 92 sale 92
9234 11/7 92
954
44 Corporate Stock
99% Sale 98%
1959 M-N
9878 15 1! 083910039
dig sandy let 43
1944
851
/
2 89
89 Apr'10
89
87
98% 10 801/21001/2
983
.Sale 9838
4.95 Coruorate stock
11/38 31-N
Coal Ely Ey 1st gu 4s 1945 44-.12) 52
8518J'ne'10 .... 83
87
8518
New 41
/
2s
1957M-r4 106% sale 10034 107
Craig Valley lat g Os. 1940 J...1
40 106'4 1008
108 110 .11,4,09. ....
New 4 428
10234 J'1Y'10 ....I 192% 1031
1'1751-N 103
Creek
Potts
90 Jan '09
Br let 48 14/16 J-J
82
90
/
2
,107 100% 107
211 1061
41
/
29. Corporate Stock 1957 M-N 1063
/
2 110
ai A DiV 1st eon g 48_1981/ J•J
9734 97 J'ne 10
97
99
103
41
/
2% assessmt bonds
11117 M-N 103
1910239104
2t1 cosset g 45
83
1101
/
2J'ne'10
11189 J•J
vt)1
/
0834 sale 102%
2 83
4
.9_0 Corporate Stock
9819 13, 984 /001
1957 M-N
9839
Spr
Warm
/
2
Val let g 6s 11141 P.1-S
1131
/
4 reu'06
J'ne'Un
.
1133
N Y State-Highway 45 1958 M-B
Greenbrier By lstgug its
87
93
911
/
2 Mar'10
91
M-N
011
/
2
,
1024 Jan'09
1933 J -J 1031
8c. Carolina 41
/
25 20.40
01,10 01 Alt lilt ref g 3s 1941) A.0
72
72
72
2 71
77
1151
/
2
95% 51 9434 06
Tenn new settlement 3s 19131J-J
9539
Railway let lieu 3128-1050 J -J
71.
71
72
70
4 0834 75
Jan
90%
'10
Virginia fund cent 2.38_1991 J -J
1107
Registered
. 99%
75 Oct'09
45 J'ne'10 .... 40
Us deferred Brown Bro.(Ms. .... 4u
Clue Burl& 4-LieuvD 482522
56
89 J'13''.P
0j
11878 100
F--A
j
861
/
2 rs7'a 861
11/41/ J-J
/
2 8.)1
/
2
/
2
81,74 14 801
grstp
Illiiineo
erieti
v
914 bec'uts
1
....-.11149 J -J
56•4
A 1111)411.01. Cent bee kits Ity
Ills
99
1)9 Sale 9878
1949 J.J
17 118/
1
2 100%
(3.1.aba Mull See At Coast Line
ybLvivtint Lund 68 1919 A-0 10434
1081
/
4 Oct '011
Albany & Suso See liel& Bud
Sulking funt148
1919 A..0 98410114 9U-4 J'ne'10
0044100
Allegheny Valley bee Penn RIC
Nebraska Extension 4.1 1927 M•li
97% 99
1)84 MaY'10
9834 1004
&Reg & West see Bun B & P
Registered
1 Alar'09
101.
74
751
/
2
h1995 Q.J
74 J'ly'10
Ann Arbor lab g 45
74
Soitiaweateru .uiv 48. .11
831
/
2
97% May'10
96
1 27
151-S
9719 99
611.N
/
2Sale 1181
Atoll'I.& b Fe-Gen g 48.19113A-0 981
/
2 0834
98 18 101
• Jouit bonds bee Great North
/
2
Registered
98 J'ue'lu
1993.A.0 1171
98 100
Debenture 68
101 J'1y'10
/
2
1913
4
1011
1003
51•14
101
1024
81)
Adjustment g 48
907 90
41995 Nov
901
/
2 3 88
General4811
95
98
12 97 100
11158,M-S 8 bale 9714
Registered
h1995•Noy
92 Jan'10
92
92
Han 94 StJoscousol 68_11111 M-5 10034 Sale 10034 10034
1 10034 102
1101
Stamped
/
2Sale 001
1199541-14
/
2
901
/
2 17 81) 94% Chic& Elllret01lmp84e .11/55 3.4
824
821
/
2 5 81
81
864
83
Cony 48 issue of 1909...1955 2.1)
11319Apr'10 .. 11131
/
2117
let cutlet)! g Ua
11
2.1
7,s
20
m.
4 121 J'ly'10
3,81
.O
11813
N 10
37
4A
121 127
/
4 104 102 100 1227
Cony g 43
11)65' J-D 104 Sale 1031
. General consul .let 58.10838J'Iy'10
108%112
/
2102 1014 J'1y'10 __i ll/1 141044
Cony 48(when iss)
11160 4-13 1011
Registered
114
10.year cony g 65
1071/2 20 10434 122%
1917! J -D 1074 sane 107
Ohio ee luti c ity 1st 58 19
.1-1 11)91
112 Mar'10
113
36
7 51
/
2
112 112
9678Jan'1.0
Debentures 48 Series .I 11/12 F-A
1187
. 987
. Chicago & Erie See Erie
9844 l'eb'10
Series K
1913 F -A
981
/
2 981
/
2 Chic lu & Loulsv ret 6s...1947
128
0
%
J'ne'10 .... 120 12102
120
97 Apr'10
East Okla Div 1st g 43 1928 M-S 94
97
Reluntung gold 58
1)714
89,4 93‘,1118014
40
1947
J.
J
92% 921
/
2 92%
Short Line 1st 4s g
921
/
2 94%
1958 J -J
LouisvN A & Ch.1st68 11110 4.4
"'
ue'10..
°1'.. 100 1001
/
4
/
2
109 Mar'10
S Fe Pres & 2141st g 68 1942,31,S 1071
109 10114 Ohio 1110 & Sou 50-yr 4s 11/56 J.J
j
D
A'pr'10 .... 93/
1
2 94
&tlKnox&N See L N.
1
eine Mil ea tit P term g Os 1014 2.4 101 104 103 J'ne'10 .... 101 1031
/
2
/
4
0334 Sale 931
94
Atlantic Coast 1st g 45.h1052 31- B
9219 967e
General g 4s series A..e1989 J -J
9839 .
3
.
01 95 1001
/
4
1119 Sep'09
Ala blid 1st gu gold 68 1928 31-N 105
1)8
312
s,A• Octi
Registered
•"34 Sale 10
90
9614 J'ne'09
Bruns& W lat gu g 413 _1938' J -J
General g 31
/
2sseries 1.1.:1
94
J-1
19
96511
bb%
".
Charles & Say lat g 75 193U 2.2 128
25-yr deuen 45
911
/
2 11334
1934 J -J
904 Sale 90
901
/
2 SS'
L&N collg 4s
'
894 954. (lineR L Su Div g
011)52 31.1,
1
1074 108
1921 J -J
Say if its W 1st gold 6s..1934 A-0 120
127 J'ne'09
Chic& 510 lily Div os 11/20 J -J
107 1101
/
2
112
111
Mar'10
1st gold ets
.
1u 4
1934 A-0
107/
, 1083
:
.1
111101:
0
4 :::2:.7.:1 1061
Chic & P W 1st g 5s
:
r
ry
jj
'
'
i
l'Ilaiy41
0°9776
6
1:121
/
2
44 ;J
118
0
82
:
' 7e34 1
6
0
514
1:
,
.44 10
1
11
118
0
00156
2
1921 J -J :
96 J'ne'10
SU Sp Oca & gu g 4s _1918 J
/
2 il 1021
Ut So g 58
Dak
,102/
1
2 1021
/
210338
Atlantic& Daily See South Ry1
Sou aeon g 68
4131aY'10
111.13
liti% 11634
4J:jJ
j
1
11%6
Austin & N W See Sou Pacillu!
LaCrosse &
078 J'ne'10
100
07u
lat 68
11111) J -J 101%106 1
10534 1013
13039 92
901
904 3 90
/
4
1
25.11125'J.- J
Dalt& Ohio priorlg 3/
927
. Mineral Point Diy6s
100 1110
1910 J-J
.
911
/
4 Oct '011
11.0 Registered
411/25'Q-J
...:
,
10
1
So Klan Div let Us
)
1\
ay
0
v
0
:0
u
.6
mo
1
1910 J -J
$018 45
/1.1918 A-0 98% Sale 98
98% 07 974 1001
Wis & Minn Div g 58. 1021 J• J 105%
/
2
....
•
9734 96 4 J'ly 'Iti . 96
Registered
411148 Q-J
911%
Mil & No lat
1001
/
2 tuu%
L 08
11110 J-1)
/
2
120 Oct'01
Pitts Julio let gold 6s...1922 J -J 1111
105 May'll/ .... 1U434 105 12
lsttmuttol 68
1041/2
00
873
10
le
4
Mar
14-N
PJiin & Al Div 1st g 31
31025
/
2
89 18 8114 01110 Northw cons 78
10
1.0
0.
7 11078 3111039113
111
u8 113 1
j
ki
:F
D
3
111
16
9
1
8839 90
09
W Va Sys ref 481041 14-N
93
8:04 12 89
EIC01131011 48
8.
1/
1
2 Sale 894
89'9 22 8916 91
8outliw Div 1st g 31
/
28 .14/23 J•
Registered
, 1)3 4 j
J 'riny'
e lU.
....,..1
.1 9
1/5
61..4
819
°1
118
891
/
4 Apr'10
Registered
h11/25;Q-J
891
/
2 1/01
General goid 31
/
2
/
48 11888866:
2! 87
p1
18
227
7
69 1
4
5:
1I
N
AA
811%
1)31
/
2
89744
'877a' 8
100 Mar'10
Con Ohio B 1st og41-28-11/30 31.0
103 103
R istered
03
7314
8 Apr
eg
84/1) ....1 ...... .....
112 111 atuy'10 .... 110/
1
2
Cl Lor & W con 1st g Os 1933A-0
1
2113/
Sinking Lund 6s 1879•11/20 A-0 110
'119's MaY'10 „..! lib% 11/34
105% Feb'07
Sloucon lily 1st gu g 65..11119 F -A 1014
Registered
109
!Illiallov'illl. ,
1024
112 Dee'01.1
Ohio River RR 1st g 58 1936' J
sulking Lund 68-187
/29 A:2 105 106% 106 J'no'l0 ..„' luti 1001
8791
9 92
2
tiv'011
110%
General gold be
A.0
112
11)37
Registered
103 106% 100 10.ar'1U .... Lot; 10t;/
1879.1929
A-0
1191.,.5lai'04
Pitts()ley 'l'ol 1st g Us 1022 A..0 10938
Debenture tai
len LA 107 MaY.10 ....' 103 107
118
061
/
4 Sep 'Ull
Pitts & West 1st g 4s 1917!J -J
Registered
,Feu'iti ....11001
1061
/
2 1061
/
2
Stat Isi By lat gug 41.2s 1943' J
100 NovN)4
Sinking laud deb 68 "
111 ill0 .1.i.ay'10 ...,., 109/
IL
)
1
2 1111
/
2
Beech Creek beeN
l; de 11
Registered
1933 M-N
Belley & Car Bee Illinois Cent
Mil L & West 1st gUs 1921 M-B 1141
/
2 110'640
J'
I
ly
Y :Lig ::::11
14
1134 j
.
141
/
2 111'4
Bklyn & Idontan.k See Long I
Ext.& Imp sfluid g Os 1029 F ••es 10038
111234 51a01.0 ....I 11234 1124
Bruns & West Bee Atl Coast L
Ashland Div 1st g 6s 1926
1171
/
2
I
!1.421..,lieb 1U2
Banal° N Y & Erie See Erie
Mich Div lat g 68
'12318 Apr'09
1024 J -J
Bullale B.& P gen g 68-1937 31-8 109 11678 11414 Feb'10
11372114,
4
Incomes
1911 1V.1. 110170%1/2
105
Consol 41
/
25
105 1094 (Jam Rock 1st & Pau 68-11117
11157 MN 105 109 105
1091
Mp
/
2 1117 10
arY:u
10
31
/
4
4A A
1U
U . _ i....
u .... 112
/
2
96 J'ly'10
1/11
All & West let g 45 gu 1131/8 A-0 931
9918
3::,:o
ub
16
g:0
19
0 ..
Registered
..1..
98,i
. 98%
1917 J • J. 101.114 111 19
......
CI & Mah 1st ktu g 58- 1943 J-J 108
103 J'1Y'08
liti/
1
2 sate 964
General gold 45
901
/
2
:
5'
95
1/1)
1988
•J
Rot% & Pitts 1st g 6s 1921 F-A 1161911719115 J'ne'10
115 117
951
/
2
Registered
1988 -2
Consol 1st g Us
11614116%
1922 J-13
1104 Apr'10
87 Sale 07
Refunding g 48
87141 7
.
1'
80
92
72 Mar'10
70
72
Bull & Snag let ret g 48.81951 J•J
72
Coll trust Series 11 4s 1.111t
Bur C & N See 0 I slb P
9
97/
1
2§1
110'(1
)
0
41::::.111.......41/1
.1 40
,i
/
2Sale 1031
/
2 10315 12, 103/
1
2 103%
('tan So lat ext
1913 J-J 1031
/
2Jan '10
1141
.11. 48
iral-11
f141
‘...)2d be
1913 M-18 lt/u% 100% 100% 1007s 2'10038 101%
N 48
Registered
......
10034 MaY'07
1913 M-S
9
04 14 pe
11 ... ..114... 941
Al:710
0 43
/
2
Oarb & Shawn Bee 111 Cent
4s
Carolina Cent See Seab Air L
.
30
.1 7-14 8376
7
'
2U9 2
14
2 Au6
73
1'.
71% dale 9
Ohio R di Pao lilt 45-2
N
IMMV1--:1414N
112879 IJ
1110
9990
Carthage di Ad Bee N I(Ma li
7634
3lay'10
....1
763
4
u
teleN
d
gis
lieu
Bur
2002 al N
so',,
Cedlilah'&N Sea 11 R&
/
2 Alar'10 . .., 1131.41141,
-0
0 10839113 1131
-lat g 68 1
1 34 A.
Con Branca RI See Mo Pao
Registered
120/
1
41 Mar'03 ... ............
1121
4
/
2113/
1
1 4130
,
1. J'
Cent of Us RR let g 68-p1945 F•A
1
2
............
103
(2RLh'RZ4 W 18t gu 66 11121 A-0
111 Nor'03'.....
Consol gold Os
10 1034 109
1945 M-14 11114 104% I
& St L Lit gu g 78_11127 .1.1)
.........
Registered
108 113 A '09
1945 14-fi
99 103 104 May'19
Moo Ok & geu g 55 .011.119 2-.I
104 1114
82
1304 J'ne'lu
86
82
let pref income g 6s....2)1045,0ct
88
... 1081
Consol gold 63
/
2 1103 51ar'10
109
110
84
Stamped
82
80
85 Apr'10
88
Keok
On
Des Al 1st Os_ 121 1
101
•••
1:
9;
1004104
78
2u prei income g 55.. .p1945,Oct
80
81 1'110'10 ..... 79
8434 JhiobtL.&NO See 111 Cent 1:1
78
139
2d pia income g 5s ;tamped! .
79 Apr'10
79
83% Chia st L & Pitts see Penn Co
I
I
II
3d pret income g 58....p19461501
81
80 J'IY'10 .... 75
82
. 78
.1hic St P 51 do U con Os-11131 J
124191271
/
2 1231
,J'ly'10 ....'123 1271
/
4
3d pre/ income g Os stamped.'.... 78
81
80
81 5Lay'10
81.
Cons Us reduced to 31
93 Dee%).3
/
28.1930 J-D 87
MISCELLANEOUS BONDS-Continued on Nest
Page.
Street Railway
Street Railway
Brooklyn Rap Tr g 58
2 102 1047 Met St Ry gen col tr g 68 1097
1945 A-0
103% 1034 103%
7314 80
761
/
2J'ne'10 .... 75
8214
1st refund cony g 48
83 130 811
2002 J-J
82 Sale 82
/
2 87
Ref g 48
47/
46
2002 A.0
1
2J'ne'll; .... 47% 54
BkLiity 1st con 58.11/10 1941 3.2
/
2 J'Iy'10 .... 10119104
101% 1011
Bway&?MAY late Vis 1
1)81
100
/
2J'nel0
97
43
2
9
0
J•D
2
118/
1
2 102
ta Co& S con gu g 58 1941 M-N
/
2alar'09
991
102
Col& iithAvlbt gu g 58.19113 31-S
96 100
00 510'110
1111 1112
Uu El 1st g 4-68 1900 F-A 100 101 100
100
1. 09% 103
Lex AY& P Flatgug 53 1993 31-8
98% 07 Apr'10 .... 961
115
/
2 1/9
Stamped guar 4-55
1950 F-A
1003.J'ne'10 .. 1001
99%
/
2103
Third Ave RR couguhs 2000 J -J
63
63
1
63
691
/
2
Kings Co El let g 48- 1949 F-A
847
. 8434 Apr'10 .... 84
85
Cent Tr Co certfs stinpd...
62 4 Sale
11214
631
/
4 64 61
08%
Stamped guar 43
19411 F-A
83
84 J'ne'lL .... 8334 851
/
4
Third Ave Ry let g 63_1'137 .1•11 105%100 1051
/
2
lig
/
1
2
1051
/
410878
Nassau Elea gu g 45
11151 J -J
701
75
/
2 761
5 76
/
2
77
82
N Orl ity & Lt gen 4128 _1933 J -J
85
87 Mat'11.
87
87
Conn By& Llst& ref g 4/
1
28'31 J -J
102 10918 Mar'ft .". 1024 1021
/
2 St Jos RyLt IL 01 P 1st k.; 5s '3'; 31-N
971
/
2
98 Icov108
Stamped guar 41
/
28
1951 J•J 1001
/
2
1001
/
2J'ne'10 .... 1001
/
2102
st Paul City Cali con g os.,1937 J -J
108 10739 Deo'011
Det United let con g 41
80 bale 80
/
28 1932 4.1
1 80
89
82% Tr -City Ry 33 Lt 1st s f 68.1923 A.0 9314 07
117 J'ne'10
99
1.10
Havana Elec consol g 58 19152 F-A
114
114 April().
93
2.
tis 73
98
8
93
4% U4
nteerground of Lou 5s 192b M-N
100
98 Apr'u9
Inter-Met colt 419s
1)56 A-0 79% Sal( 71138
80%
831
/
2
83
J -J
80
83
Inter Rap T 3-yr cony 68.11)11
100% Sale 1004 1011
/
2 11 l00 4 104
Income tis
33
33
119'4
3g
321
/
2 32%
311
/
2 40
43-year Os Series A
100% 1004 111078.14 10
1952 51.19
87
0%4 l8
037 Union El(Chic)
g 58 1943
84 Odt '08
Intermit Trac colt It 48 1919 J• J
07 Mar'lb
lie United Rye St L let g 45 1934 J -J
tit)
7111
/
2J'Iy'le
Manila Elec let & coil 58 1953 AILS
/
2 83
791
4)8 May'013 . ....
United RR8 San Era f 48.1927 A•0 671
/
2Sale 071
/
2 671
/
2
05
74
*No price Friday; latest this week. 11,Flat. aDue Jan
Due Anr e Due May g Dne .1'ne hDue
Wine lug oDae Out p Due Nov &Option Sale
•
•
-•••
•
..•
119
••••
ts;
id
..-11,1;(1 111.
••••
.:"
..
..
0000
Al
••••
•
-•
•••
-•
a
New fork Bond Record- -Continuecl-Page 2
JULY 23 1910.1
BONDS
N. Y.STOCK EXCHANGE
Wicitg Fdliniio Juts 22
10•Ti
Price.
Friday
July 22
.4
'a
,
Week's
Range
Range or g
Since
Last Sate'
1'
. Jame urn 1
BONDS
ri°
N. Y. STOCK EXCHANGE 1, 1::
gZ
.
WENN ENDING JULY 22
,•1
Price
Friday
July 22
201
Week's
iId Nange
Range or
Z2 January 1
Last Sate 4. -4i'Lee
IltgA i/o Low tiLqh
Bid
Ask Low
High Nol Low lizow
Sot
Ask Low
Chie StP M & 0-(Con)
I
123 Ply'10
a
Inpdalst
114 Oct'09
123 127
ta c6
on gli
peg
nn
019261J-1 105
68
6.
Oh St P & Minn lstg 68 19P3 M-N 122
Erie
129% May'09
flee
Nor Wisconsin lst 6s 1930 J -J 122
I
115 Dec'09.
112% 114% Evans & T H lat cons 68.1921,J -J 109
St P & t City 1st g 6s 1919 A-0 11136 114 112% Ply 10
112
Istgeneral gold be .
1942 A-0 98 100 10112J'ne'10 . .. 101 102%
Chic& WestInd gnu g 6s q1932 Q-51 108 112 108% 108,2 1 10812
88
03i.,
Mt Vernon 1st gold 60..1923 A•0
89% 90
138 Jily'10
114 A pr'05.
1952.J. J
Consol 50-year 48
95 J'ne'08'
Sun Co Branch 1st g 58.1930 A-0
Chic & W Mich See Pere Marq
12argo & So See eh M ,Se lit P
05000 & Gulf See C It I & P
l'
lint&
Pere
51
See
Pere
Mar
Oln II & D 20 gold 4.20 1937 J.J
114:0
01 '3°
10
0
Fla C& Penin See Sea Air Line
iiii 108
CBI & 1 1st gu g 5s 1941 MN 100 101 113
Fort St U D Oo let g 4125.1941 J-J
105 Mar'93
89
C Find & Ft W 12t gu 48 g.'23 51-N
87
85
87,
871
4.7an'10
8
Ft
W & Rio Gr Lit g 40...1928 j-3
86 Mai'10
85
813
87
Cin & W lat gu g 40.1953 J-J
107 107 Mar'10.... 105 107
a (al liar & 8 A See So Pace°
Ind Dec & W 1st g 5e 1935 J-J
107is Deo'02
e,Aof
&H
la188,62e
97 J'1Y'09
6 Sea1 5A
s.19l3 A-0 95% 100
1935 J-J
let guar gold 58
Georgia
Line
OIStL&O See000&StL
GA Car & Nor See sea A Line
•
Cin S & 0 See (.1 0 St 1,
Georgia Pacific See So Ey
Clearlield & Mali See B K & P
, 9234
9234 3 90% 96.2 Gila V G & Nor See So Pao Co
Clev Cui C& St L gen g 4s 19113 J-D 92 923
94% 94% Aug'011
Gouv & Oswegat ,S'ee N Y Cent
1939 J-J
Cairo Div let gold 4s
8878
94% Grand Rap& Ind See Peon RR
90 J'ly'10
90
(Mn W& ill Div lat g 46 1991 J.J
91% 953 Gray's Pt Term See St L8 W
92% 9114 J'ne'10
St L Div 1st col tr g 4s 1990 M-N
Oct '07
Gt Nor-C 13& Q colt tr 48 1921 J -J
......
95% sale 95%
96
90 9413 971
Registered
1990 31-N
/
4
100
9981
Registered.h
95% 95%
95% 7 94% 9676
......
Spr & Col Div 1st g 4s 1940 51-S
St Paul Ai & Man 4s....1
Ou
90
1)878 rne'10 .... 9376 1(10
Marl°
19
33
23
1 J9-4J
W W Val Div let g 4s 1940 J.J
1st consol gold Us
,ne ,
25)12 125% J'Iy 110 .... 125 ,, 12834
7
5.
18 JFeb'10
1933 J-J F1-4: 11'
,
0
1054 105%
/
41
o I St L & C condo' Os 1920 M-N *10444 921
90
Registered
98 %
132 Apr'01)
0
98
7
1933 J-J
let gold 4s
Q-1.
98 Feb'10
Reduced to gold 4.20 1933 J-J 103% 104% 1034 10484 22 10334 107%
Registered
k1936 Q-F 94
Registered
10834 J'ne'uu. .1
109% seP'09
1933 .7-J
Cin S & CI con lst g 58..1928 J-J 103
Dakota ext gold 68....1910 51-N 100%
10030 J'ne'10 ....1100.2 1(1136
104¼ Dee'01;
000&Iconsotls
1914 J-D 107
98
98 Apr'10 .... On 100%
Mont ext let gold 40..1937 J-D 94
Consolaink fund 7s
1914 J
100% out'06 .....t ......
Registered
.....
1937 J-D
.
General consol gold 63 1934 J -J 117 123 125 NoN009
993
4 Jan'le ....I 9934 9944
IC
A-0
•
96
481948
kliniiNorDivlst
g
Registered
1934 J•J
114,s b'etel0 ....1113 114,s
94 J'ly'08
Minn Union 1st g 68..1922 J -J 1125,3
............
Ind B1 & W 1st plot 46 1940 A-0
Mont C let gu g 6s....1937 3-J 121 125% 129 Feb'10 .....129 120
0 Ind & W 1st pt 58..41938 Q-J
18614 Alay'06 •••.'......
94%
89
1 89
813
Registered
1937 J.- .1
Peo & East 1st con 45 1940 A-0 89 93
110
1 110 11372
18t guar golu es
2 54 87
64
1937 3-4 110 Sale 110
Income4s
IWO Apr 63 54% 54
111% 114 16 116 J'ne'05
Cloy 35 Marietta See Penn Itit
Green
i
b
li
r
a
l
er
8
4
18
,
1
1
eg
e
°
C
111
16
es
s&
130
38 4-D
Cloy & Pitts See Penn Co
90
89 Apr'10
65
8 65
68
65
8136 Gulf &6I lat ret & t g 56 61952 J-3
8714 9478
Col Midland 1st g 48
1047 J1 65
94
95
9414
94%
1 94% 977 1...1 an & 8t Jo See C 1.3 & (.4
Colora0.3 & Sou 1st g 48 1920 F -A
1-1-ousatonio See N Y N 11 db 11
98
31 95¼ 99
1935 M-N 954 Sale 95%
Relund & ext 4 ins..
101
.111 111% J'Ile'10
Hit
18 9978 101
111%114
ocekgiV
sal
terled
atoonsolg4.23.1999 J•J 100 Sale 100
.Ft W & Den C 1st g 65_11)21 J -D
100% Sep'08
Caitlin4 Greenv See So Ity
95% May'l0
Col & H V lat ext g 40..Ing i-;) 93
96
95%
001 & Hock Val See 'lock Val
99%
1.4
96
eu'o9
Col & Tom 1st ex 4s
..
1955 F-A
Col & Tot See Hock Val
Roust
E
&
W
Tex
See
so
Pac
Col Conn & Term Nee N & W
Houst& Tex Con See So Pao0o
Coati ek, Pas Rive let g 48.11143 A-0
1100173bJA'n,lo:,170
104 10534
Illit
to
egi
us6Cte
100 MoY'10
IOU 100
ernetd
ral let g 48..1951 .1-.1 102
1952 1-J
Cuba 11 11 1st 60-yr 5 g
1961 .1-3
1 ak & G t So Nee (.1 .M. ,S'a St.P
ill
92 J'ne'll)
110
92
let gold 3%s
1051 J-J
falls* & Waco SeeM K
09
11
Seapy:0
9
1):
1Lam
Registered
Del Lack & Western10934111%
10936J'ne'10
Extended let g 3'28
Morris& Essex lat7s 1914 M-N 110.6
80 J'1301)11
let
42
ouguoI,
112 114¼
rd 8
......
3:sterling
gold 4s
1951 1v1-8
1915 J-D 11134 112% 112 J'ne'10
1st consol guar Is
27 3'ne'05
99.4 J'ly'10
........
Registered
1915 J-D
vu J'ne'01/
Registered
.28
2900 J-D 8534 ------ -- 1)4 Sep'00
1st ref gu
110 'VI iii 117
let ref 48
074., 33 99 19934
120% 110
1955 M-N 9634 97% MA
6s 1921 J -J 115
N Y Lack ifs W
97,4.7'ly'14/
.
.
1;
1)
;
'
66
4
.1
-0
-9-01
Lu
Ne0
432
tel
'
ro
ect gold 4s ..1053 -11-14
Construction 5s
1923 F-A 107 108 107k. 10714 1 10714 110%
97% 101
11153m-N
Term & imiirove4s
1923 M-N 98
1
,
1)
A try:0
7/
1
4t
00
111i 10
90 16
Cairo Bridge gold 4s. _1050 J -D
92
8% j1;41::U111
Warren let ref gu g 3120 2000 F-A
ju
121) Mar'10
Ltiu
87% 88"
120 12078
sv
el)
Div
i&
v rl
e'e
greui
e g3.2
.0.1953 J-3
Del .15 Dud 1st l'a Div 70 1917 M-S 110 120 149
Aug'01
Registered
1917 51-13 111
1".% 17
2°7
37%
:
97 bah, 97
1
;1;
in% 3 07 104
77% 77.4
Omaha Div lat g 35
1951 F
i:
r-1"
10-yr cony deb 45
1916 J-D
711% Dee't18
993 101 101 J'IY,:.19
St Louis Div&term g 30 195
10078 103
......
21 J -J
1922 J-J
1st lien equip g 1,2s
5 91312 10U .2
u8
Registered
1943 M-N 97", sak 9734
let &ref 45
90
89 Feb'10
92
42 91
1940 A-0 91.2 dale 91% rne'10
JUL)& Sus cony 3%s
122 124% 123%
Oct '99
12314 13
90
7112
4
G°Ithieg3m12t8ered
Rens & Saratoga let 7a 1921
100 Novq.10
§pring Div 1st g 3.20 19
351 4
J 43
Del Ely 1-11.1 Bridge See Pa RR
931-2
93
90
923
6
97%
95
J'ly
115
9312J'IY'10
'10 .... 8"
89
-A
Western
95
Lines
F
lat
g
40..1951
UCrlstcong4e.19313
J-J
&
Deny
.104% 104¼ Mar'10
103% 104%
Bellev & Car let 6s
117%117%
1923 3-1) 116 117 117% may'10
1936 J -J
Consol gold 412s
100
319(1 105
139 a eu'10
131)
Cai•b & shaw lat g 4a...11)32 M•S
Improvement gold 6s 1.028 J-11 IUU 10/ 100
91
ii uu % 1/412
9034
11434 5lay'10
Ohio St L & N 0 g Os. .1951 3-1) 115¼
11434 119
1955 F-A 91 Sale 98
let Sm refunding Os
Feb'118
110
118 Mar'10
110 118
......
1110 Or Juno let gu g 58 19313 J •D
79
78 Dec'1.11)
Gold 31tarsed
iteg18
Rio gr So let gold 46- 1941) J • J
85 idar'08
atr:(1
)0
3
r)
/ % tMh'
137% 97%
Alemph Div lat g 4s...1
19
051 Jj'IDD
Guturanteet1
1940 J -J
90% .2 90
98 J'ly'ye
83% 90% vu %
94%
St L Sou let gu g 40. _1931 11.-S 90
11139 J -J
Rio Cr West lat g 48
84 J'ne'lu
84% Ind .13133 vvest, Meet;6crc1
83
6115.L
1 j-D
Mge aud col trust 48A 1949 A-0 4,82%
97 Jau'02
95
98
Ind Ill & la 1st g 4s
90
......
19bu .7- J
Utah Cent lstgu g 48 a1917 A-0
12:lit -111
108%11034
Int & Great Nor 1st g 68-1919 5I-N
7
:V.
Dee Alm & Ft 1) See M ‘.5 St L
5lay'll;
112
110
1()13%
20
gold
5s
qi4
,
-'
..1.
110
1909
11
'S
tin
By
1st
g 58 1917 M-N
Dos Mol
1-.17) 110 J'Iy'lu
95 Apr'10 . 95
10034 112%
91
97 78
Trust Co °cal%
Dot & Mack 1st lien g481995 J
92
81; J'iy'10 .... 88
1921 51-13 19¼ 20
1018J'ne'IU
91
19¼ 35
30 gold 4s
0016 48
1995 J-1) eu
J-1)
193
ivi
1!
eu
104%
101
10034
102
'1G
74
1
....
'12
1938
Iowa
Central
1st
gold
58
Det So-0 6 Div 1st g 48 1041 M-)3
70
76.2 May'10
100 111
.
74, 774
Gold 48
7)
f1 J'iy'10
1951 M-8
Dal & Iron Range 1st58-1937 A-0 106,2 74 10
we;is Aiar'uo
fi al A, dis Cii li. bee L S do 51 6
Registered
1937 A-0
Alicli
1.x.an
da
bee
Toi
3100
'
1916 J J
20 Os
KOFtS&M. SeaStL&SF
Dui Short Line See Nor Pao
Dui Su Shore & Atl g 68 1037 J -J 106%108% 106% 100% 3 100%10734 X Oda M.It& 13 b'esStL& SF
Kan C & Pacific) See 51 K & T
&
4 ast ot Minn sea StP
72
3 711
/
4 74
Kali City Sou let gold 3(3..19N A-0 72 Sale 72
DAL Ten Va & Ga See So Ily
63 Oct'00
Registered
Elgin J ol & East lat g 58.1941 M-N 1071s 110 113 Dee'09
9976 100
Ref & impt Os Apr 1950 1050 A -0
Vil1
/
4103
0 6674100
Elm Cort & No See Leh& N Y
1920 M-S 119%12312 118% May'10 .... 11814122% Kentucky Vent 4Ce L & Li
Erie 1st consol gold 76
9912
100 J'Lan°
IOU 100
Kook & Des l'ito See 0 kt 1,1,P
NY & Erie latest g 45 1947 M-N
Mar'10
100%
105
103
••••
1(167
8
1063
4
Knoxville & Ohio flee So Ity
1919 31-S
20 ext gold be
109
103 Mar'10. . 103 103% 1 alto Erie & W let g 58-11/37 J -J
30 ext gold 41213
1923 M-8 99
en
,
41
,
0 .... 10614 10614 -I-4 20 gold Oa
? 4,
1.0
,0
61.: Jit
DA% Writlilair
'
1941 J -J
1920 A-0 102
4th ext gold 55
993,
99%
North. Oldo 1st gag 56 1940 A-0
108%112
101, Mar'10
5th ext gold 48
1028 J-1)
120:54 124 Aug'09
L Silo & Mich 8 See N Y Cent
NYLE&W 1st g fd 78.1920 11-S
811
/
4 803
. 81
14 8934 87: Leh Val N Y lat gu g 4.20.104() J -J 105%
81
10534 108%
10534 J'ne'10
Erie let con g 4s prior 11196 J-J
Registered
1040 J -J
Registered
1990 J-J
InsVr7)
88a, 79
8
99
1 1s kl°0
v1)
'°%
9 1...;z7i.
64A1
i.., 767, Lehigh Val(Pa)cons g 45.2003 M-N
.p
ulif:n
.liT4 97L2
let °onset gen lieu g 461990 J-J
85% Feb'07
Len. V Ter My lat gu g 50.1941 A-0
70
113% 114 J'1)&10 ••.• 111 11534
Registered
1999 J•J
Registered
85
11334 109% Out '91(
1 .ii3-;
1 8634
1941 A-0
1961 F-A 85 Sale 85
Penn coil tr g 4s
Leh Coal Co ha gu g 58.1933 4.3 107%
67
20 60 83
1953 A-0 66 Salt 60
50-year cony 4i A
73% Leh & N Y let guar g 4s..1945 51-S 90 95¼ 1113
AI v:YO
U
634 NIr
9344 95
61% 61 60
do
Series 13 1953 A-0 61 kit sale 61
Registered
1945 M-S
Bull N & Erie lat 75 11/16 J-D 109 115% 11376 Mar'10.... 11378 113.8
is
De
1
0
1
8
IR
,
1
0
111%1127
12
6
101%
2
115
El
C
&
N
Feb
let
110
pf
fla
1914A.0
..•.•••
10
.
.
1.
no
44 101%
102%
Erie
let
gold
55 1982 M-14
Ohio &
Gold guar bs
10114 bey'UD
0 10%
Clev & Mahon Val g 60 11138 3-J 111%
Loh .re liud 11 See Cent WIN
127 Mar'10 .... 120 127
"
,
ALong Dock consol g 00 1935 A-0
Leh 35 Wilkes') See Cent of NJ
109% 1
,
13
4 ts, Apr'10,...
u,,,... 114 114
Coal.X3 RR let cur gu 60 1922 M-N
Leroy & Caney Val Bee Me P
Dock & Imp let cur 6s 1913 3.3 100
118 105 103.23an'10 ....I 103,2103% Long Dock See Erie
ad Green L gu g 56 1040 M.N
90
%De0
0,
908 ...2
.1.
:
.
i).
9.. 104,s Long Ist'd-lst con g 5s.h,1931 -J 110.
112 112
112 Feb'10
Y Sus & W let ret 68 11337 3.3 98 100.2 10
Jet CO11801 Old 4s
100%
1937 F-A
51931 -J
2ti gold 4120
89 J'ne'10 ..,. 89
90 Alay'10
90
9734
93
General go d 4s
1940 F-A 82 89
11)38 ;-.1.)
General gold Os
100.1 11.1014
108% May'10
Ferry gold 4t2a
10812 108%
1922 M-8 96 100 19016Feb'io
Terminal let gold 68-1943 M-N 105
93
9914 0ct 'Ott
Gold 18
1932 J-D
Regis 4(6,00i1 each 1943 M-N
1004 Alai'''.0' .J1004 10118
Unified gold 48
1949 M-13 90 95 is 9344 Mar'10 •........ ..1;:i; 95
Mid 14.1toLN J 1st g 68 1910 A-0
99 101% Mar'll)'••••1 10112101%
lilt% liee'08
1934 4-1)
Debenture'gold 5a
Wilk& Ea latgug5s 1942 J-D
......
•••
••••
•••••
Mt itt. •",„;
Et 2:8 "
1211::
mi..
E
8
ILAP.1L154
611SCELLA.AE4)Uel BONDS-Continued ou Next Page.
--Gas and Electric Light
Gas and Electric Light
Atlanta I+ L Co let g 55-1947 J.1)
NYGEL1145 Pg 50...1948 J-D 100 Sale 100
100% 23 100 10314
87
82
Bklyn Li Lias let con g 56 1945 M-N
1081s 10612 1001
Purchase money g 4s...1949 F-A 80% 83
8214 rly'10
/
4
105%107%
110 111%
63
Buitalo Gas 1st g 5s
1947 A-0 80
Ed El 111 let cons g 60-1995 .10038 j'ne'10
04 67
110 110 .rly'10
10014101¼
NY&ClEIL&P Litcon g 6(31930 F-A
Columbus Gas let g 5s
1932 3-J
10014 Mar'10
97 J'ly 11/9
N Y & itleb. Ga.s lat g 56.1921 M-N
Detroit City uas g 60
1921 4-3 100%100 2 101 Apr'10
101 101
Pacific G & Eleo Co Cal G & E
Dot Gas Co con let g 5s 1918 F -A 100%
9534 Sep 'Ob
92
101 12 J'ne'10
Eq LN lat cOn g 50 1932 Miu 91
92
corp unifying & ref 58 11437 Nt-N
WI% 105 lu
92 9234 91
118 119
(las& Elea Berg Co c g68 1949 .1.1)
la lu Oct'01
1
,
943
7 A-0 115 116 11814 Marl('
Peo uas & 0 let con g 68.1
10214104
Ur Rap L Co let g bs 1916 F -A
98 101 100 Oct '01Refunding gold 5s
11-S WO 10218 10214 May'l )
10272 10414
102% I'ne'19
Hudson Co Gas let g 58 1949 M-N 101%
CliG-L& Cke lstgu g Os 1937 3-4 103 10418 10318 Pne'll
102%103%
97 Mar'10
11/014 102
Kau City(51o)Gas let g be 1922 A-0 97
Con G Coot Ch let gu g 50.'36 J-D
103 101 4a May'lu
97
97
100 100 J'13010
Kings Co El L & P g- 58-1937 A-0
90
In(INat Gas 8301130-yr 50'36 M-N
(00 101
9414 A ug'01,
101 101
Purchase money Os
112
1997 A-0 112 Sale 112
101 Alai'10
Mu b'uel Gas lat gu g. 50.1947 .4.14
11014115
90
90 Mar'10
Ed ball Ban lsteou g 4e 1939 J -J
102 105
Philadelphia Co cony 58 .1919 F-A
101% 10212 Apr'lc
8714 00
100 100
Lac Gas LotSt List g 5s.411/19 14-11. 101 102 101% J'ne'10
IOU Mar'le
Syracuse Lighting Ist g 5s.'51 J -1) 98
10014105
lief and eat let g Os
1934 A-0 99 100¼ 9918
9934 4 9918101
110 May'05
Trenton G dl, El 1st g 5s..1949 M-b 101
Milwaukee Gas L let 4s 1927 M-N
9038 91 Apr'10 •
96 Jan'08
91
9218 Union Bloc Lea P lstg 58.1932 M.S 98
100 100
Newark Con Gas g
-D
10834
Westchester Light'g g 58.1950 J-D
1021s 100 J'ne'lt,
*
No
price
FRASER Friday; latest bid and asked this week. a Due Jan bDuo Feb dDiie Apr e Due Slay luDueJ ly kDae Ang gOne Deo s
Digitized for
New York Bond Record-continued-Page
202
BONDS
N.Y. STOCK EX(1F1A NOE
ENIMM JULY 22
e772
Price
Friday
July
Week's
Range or
Last Sate
Range
Since
Janitor,' 1
BONDS
N. Y. STOCK EXCHANGE
WEEK ENDINO JULY 22
3..)
3
Price
Friday
Tuty 22
IVoL. Lxxxxie
Week's
Range or
Last Sale
'39
?.-s1
Range
`a•-•.;1 Since
cc January
1
ilia
Ask Lou,
Burn No Lou. Mon N Y Cent & H It-(Con)
Long Island-(Con)
Ask Lou,
illa
B(ch. No!Low .11 wit
Guar ref gold 48..
05 J'Iy 110
97
1949 MS 95
Itich
Cent
coil
g
3123.
94% 100
79 J'iy'10 ...J 78
.1998 F-A
8214
Bklyn & Mont 1st g 68 1911 M-8
Registered
79% Marl.° ...D 7038 7914
101.8 Dec'08
1st 58
Beech Creek let gug 48.1
1(7
1911 M-8
983 Apt 11), ....1 1/814 9834
96
8J
F:A
J
1113
N
11014 Nov106
1st con g 5s 1935 A-0 10214
Registered
102 Alair'04
1936 J -J
......
N I & It 11 1st g 5s
105 Apr'07
28 gu gold 53
1927 M-S 100%
105
Nor Sit B 1st con g gii5m o1932 Q-J 100,4
100 Nov'06
iteeeli Cr Ext 1st a 312861
84%
j1
-1.
115
31 .-7)
199
96
Louisiana & Ark 1st g 58.1927 M-S
97 Nov109
Cart & Ad 1st Ku g 43. .1981 J -D
97% Apr'09
113 J'ly '10
Louisv & Nosily gen g 0.11130 J -l) 113
(Iouv & °awe lat g u g 5s 1042 .1.1)
11214 11634
114 Apr'10 84 114 114
Gold 58
Itoh & Mal 1st gu g 48 1901 M-S
1937 M-N 112
9878 J'ne'10
1.1878 0978
30
97%
Sale
Unified gold 4s
F.,%
NJ
Juno it fat 1st 43. 1986
97%
97%
9634 100%
1940 J J
1(15 Oct '02
100 Ma31'09
Registered
N Y & Harlem g 3128 2000 5,1-N
01
1940 J -J
11)14 9314 May'l0
113% 93%
100% Dec'09
Sink thud gold Os
N Y & North 1st g 58 1927 A-0
1910 A.0
108 Oct '09
107 J'ly'10
Coll trust gold as
I & Pa 1st con gng4s 1903 A-0
107 110
hi-N 107
9E04 9812 11634 j'ly'IC ....1 99% 9812
110% 112 112
E It & Nash 1st ,2 68-.1919 J
112
Nor & Mont 1st gu g 58.1916 A-0
111 14112
Pine Creek reg guar 68.1932 J -D
L Cin & hex gold 412s 1931 M-N 102 106 103 Apr'10
103 106
131% Jan '09
N 0 & M 1st gold 6s
It W &0con lst ext53.41922 A-0 107 197% 107 J'iy
1930 J -J 119 124% 124 M111'10
124 1251
/
4
....107 110
120 Jan >09
N 0 cis M 28 gold 60
Oswe & 1128 gu g 6e. .e1015 F-A
1930 J -J 11714
105% 105 Jai/ '(/
It Was0T R let gu g 55.1918 M-N 103
10734 11014
Pensacola Div gold 9s 1920 M-8 105% 110 1074 1111e19
104 3'1,0'10 .... 104 104
J'ne'10
113
114
Rutland 1st con g 4128 1041 J -J
114 114
St L Div 1st gold 63
1921 M-8
102 10214 Feb•10 ....' 10178 102 18
75
71 MaY'00
OgthI,Cliain 1st go 48 g1943 J -J
1980 M.8 68
28 gold 3.
86 12 111 14
8614 Alit)"10
0234 91
91
5 01
Rut-Caund 1st gu g 4,3.1949 J -J
Atl Knox &
(hy 48 1:155 M-N 01
95%
92 J'ne'09
110
Ply
06
..•
•
St Law Ob Ad.lr 1st g 5s. 11106 J -J
At Knox & Nor lst g 581046 .1.0
J'ne'011
115
'
.
110 Jan '09 •..•
28 gold 63
Elender Bdge 1sts f g 63.1931 M-S 1043
125 Feb 108
9814 97 J'ly'10 ••• 96
Kentucky Cent gold 48 1987 J J
Utica & Blk Rivgu g 48.1
22 J
A:
°
J 100
102 A WV,....' 100 102
1999
07%
105,
104 MaY'l 0
104 105%
Lake Shore gold 3123.-1997 J-D :MLA
L&N & & 51 1st g 4%011145 M-S
01 J'ly 110 ....1 0o
9214
90
9034
9034
Registered
L& N-South It joint 48.1952 -J
00
92
.1.
-N
D 88
1907 k4
11814 88% J'ly'10
02
109
A 103
9214 Sale
109 111
NFla&S 1st go g ..1037
Debenture g 48
1928 M-S
92%
93
23 1.2% 953
98
112 12 0234 9212
N&C lldgegengog58.
25-year g 4s
41231945 J -J
1931
92% 271 02
9504
110% Mar'10
.- A 110%
11012111112
Pens & Atl 1st gu g 63 1921 0
Ka A& Hist no5s.11)38 J -J 111%
ayr:110
114 19
0
1 L., Amia
107
110 114
S & N Ala con gu g 53 1036 1.-A
100 oct '07
Mahon (YI itit 1st 68 1934
Jell Bilge Co fto g 43 1045 M-8
89% 89%
100 Dee'99
Pitts & L Erie 28 g bs.a1028 A-0 100
LN A & Ch See 1 & L
130% Jan '09
Pitts McK & Ylatgu 63.1932 J -J 122
NI:111110/a
28 guar 68
n
193413 -4 1211
J37
8
947 93%
0'3% 10 0378 981
isg (14'''s.11i)J0 A -0
Seee
olL
ta lRy
MoKees& BY 18t gas 19181J- J 107
/
4
104 Apr'05
1011 14
1990 A-0
115 Oct'09
Registered
Mich et:alb Os
19311 M95% 4 04% 99%
Stmpd tax exempt 1900 A-0 94 12 06% 90
110 1'ne'011
Registered
1931 Q-110 108
99 Jan 'le .... 99
AdoK'pt & 11 V See N 1 Cent
48
1040
J
-J
09
98% Sale 98%
08% 5 96% 98%
1911 J-J
98 Dec'09
MexCentoonsg4s.
Registered
1040 J -J
317, May'lu
al939 J'ly
90 J'ue uts
27% 3178
J L 81st g 3%a
let eons iue g 3a
,A:S
M
N
0
1/5
5
1
,
1
25% Apr'09
80.1 89'2 87 Apr'10 ....87
0
8!
2d cons Inc g 3s trust recta.
90
77 Mar'10
76
8712 90
20-year
75
110% Fuel().... 9014 02%
yea3rds
deb 4s...
Alex Intermit let,Con g 48.1977 11-9
11129 A•
77
80 Feb918
1977 11-9
Stamped guaranteed
Bat ti Stur 1st gu g 38 1989 J -D
100 Marl()
.1910 J -D
9.3
100 100
09 J'ly'10.... 9714100%
hlex North lst gold
N Y()lac& st L 1st g 48 1937 A-0
Cent
Mich Cent See N Y6s'
100 Dec'09
Registered
1937 A-0
90
Debentures 4s
90 J'ne110
Mid of NJ See Eve
90
92
9978 101% W9
West Shore 1st 4s go 19
Mil L S & W See Chic & N W
J11:J
233
61 rN
100 14 15 011 14 102/
1
4
Registered
0734 Sale 97%
Mil & North Bee Ch. II & St 2
117% 10 'J1°10014
2361 J -J
May110
.131
131
131 131
Minn & St 1, 1st gold 7a..1027 J.1)
N V & Oreenw Lake See Erie
us Jan'07
Pacific Ex 1st gold 08...1921 A•0 107
N V do Mar SeeNYCd4 Mud
100% J'ne'10
South West Ex lat g 78.1910 -D 100%
N Y Lack 84 W SeoDL&W
100%101
1934 M-N 102 104 103 J'Iy•10
103 109
N Y LE
181 consol gold Is
W beeline
69% 75 muy'll)
65
1st and refund gold 43 1949
75
81% N )(Oa Long Br See Cent of N
87
Marl()
70
88
.'35
J-J
go
Ft
D 1st
Des AI &
87
131%13134 13114 132
9134 N Y N Al & U-Cony 6s 1048
12 1303s 135%
4a..
lt&N
Minn ob St L go Seen 0
Couv dollen 314s
97
98
9734 (10 961410314
97 18
98 J'ly'10
06% 98
AlStP&SSMcong4intgu'38 J -J
03 100
kluimitonto R con g 5a 1
1111 Jan 110 .... 116 116
1.9
937
56 M-N 112
98
%
Jan
'19
07
MSSM&Alistg 4 intgu 1926 J-J
98% 98%
N II ea Derby con cy 58 11118 M-N 101 14
107 Aug'Ul./.
......
•
Blinn Un See St P 1U. &Al
N
& North SeeNY0 & 11
97178 16, 96%100
N V 0 do NV ref 181,g 4s..y1992 Al-S
Olo Kan & Tex 1st g 4s 1990 J-D 9712Sale 07%
97
05 J'Iy 11 0 ....1 98
98
82%
31
Sale
8214
01990 F-A 8212
84
8734
2d gold 4s
Regis 85,000 only
11
g1992 11-8
10114 J'utelni
101% 4' 101 105
1944 M-N 101 Sale 101
1st ext gold 5s
N Y & Put dee NYO&H
82
J'uo•10
81%
ALS
81%
2004
let & refund 45
Y & It 13 ties Long Island
8514
2 83% 9034 N Y 8
85 sale 85
t.'5
Gen a I 412a
11136 J -J
W &so Erie
88 Apr'09
85
N Y Tex & M See So Pao Co
2001 A-0
St L Div 1st ref g 4s
102
105
.1'110
106
'10
105
M-N
Dal & Wa 1st go g 58 1940
Nor & South 1st g be
,101 May'lO .... 100 10114
1941 M-N 100%
92
Apr'10
9212
00
93% Noll& West gen g Os
Kan C & Pao 1st g 45 1990 F-A
123 12614
1931 M-N 12304 126 1123% J'Iy 110
.1(/8
106 113
• K & 1st gu g bs 1942 A-0 106 110 106
Improvetu't & ext g 60-1934 F-A 12214 1'26%126 Mar'iu
124.812638
51 K & Ok 1st go 55
1942 M-N 104 10512 103 J'iy'10
103 107.8
1123 Alay'10 .... 123 12414
New River 1st g Os
1932 A-0 120
• K & T of T
gu g58 1942 21-S 102% DA% 10012-P1y '10
100 %105%
99% 40 98 100
N & W By 1st eon g 46 1096 A-0 0814 Sale 9814
109 110(4 Apr'09
Sher Sh & bo 1st go g 65 1943 J -D
97 Apr'lu
Registered
• 97
97
1996 A-0
103% 105 Mar'10
Tex& Okla 1st gug 53 11343 11-S
105 10512
91 1.2 92
Div'l lat lOb gen g 4a 1044 J -J
0134
9134 10. 91
9314
1080
4
108 4 108% 3 108%111
610 Paoitic let con g (is _1920 11-N
10-25 year cony 4s
09% 73. 08%108%
1932 J.1) 99% Sale 911
100
8 100 102%
Trust gold 6s stamped.a1917 M-8 100 10178 100
88
87
Pocuh C & Ojolnt4s 1941 J-D
87
1' 87
110,2
1003
4
Mar'10
09%
Registered
M-S
a1917
1.19.8 99r,
1011 Apr 110
C & T lat gu g 5s
10434 MI
1022 J -J 104%
1920 .F-A 100%10i 100 J•ly'10
1st coil gold Os
100 102.8
1)4 Ply 110
94
Solo V&N E lat go g 4s 1980 AL-N
911 12
77a., J'ly'10
1045 M-8 77% 78
771
40-year gold loan 43
/
4 8178 North Illinois See Chi al, 14
1938 M-N
953 Nov'Oli
8d 7s extd at 40/8
North Ohio See 1, Erie 84 W
92 %Sale 92%
93% 35' 90
1St (.45 ref cony 53full pct 1959 M
100 Sale 9934 10014117!994 102%
96
Nor Pao-Prior lien g 48 1097;‘)
Cent Br lty 1st gu g 48 1919 I -A
8838 933 92 Ply 110
91% 05
1(814
Registered
9814 11 9814101
9812
1997 (4-.1
J-1.2
80
84%
87 12115y110
Con Branch U P lat g 46 1948
86
General Lien gold 3s....a2047 4-11' 70 Sale 70
87%
7018 51 70
74
110 Mar'05
Leroy& C VA Llstg5s 1026 J -J
70
Registered
7214 Feb'10 ....I 72% 7214
99
99 MaY'10
Pao R of Alo 1st ex g 40.1038 b'-A
98 100%
St Paul.Dul Div g 4s 11147
1)7 Mar'10
96 cJ4:1D
9714
9614
111
113 Feb'10
28 extended gold 5s 1938 J -J
113 113
Dul Short L 1st gu 55..1916 51-13
SPJ
99 Feb 1.10
99
99
10 10(3 110
StL Ir AI& Sgeu con g 581931 A-0 10634 107 100% 107
Oil& Qcolitr4s ,SeeistNorl
111 Sep'09
Gen eon stamp gtd g 5s 1031 A-0
St P & N P gen g 63....1923 F-A 11312
11510'110'10 -J 1 115%1181
/
4
13418 Sale 81%
8,1 18
Dallied & ref gold 4s 1920 J • J
82
117 117 1"eb'10 .... 117 117
Registered certitles..1923 Q-F
8(1
83 Sale 83
83% 24 83
Br(& G Div 1st g 45 1933 M-N
St Paul & Dul 1st 5a....1031 F-A
110 J'ne'10 .... 110 110
87%
19211M-8
10212
Jan
110
68
1st
g
&
W
Verdi VI
285s
102%102%
103118 Mar•10
10338 10338
98 Dee'06
AlobJ & K C 1st cows g 58 1069 J -J
1st consol gold 4s
O
7A D
96
18J:
196
au14Apelo
96% LK 12
Mob & Ohio new gold 6s 1927 J -D 115 117 11714 Marin
Wash Cent 1st g 4s
02 i2 J au'09
1171.; 121%
1048 Q-M
J
117%
114%
6s../t1027
110
extension
Mar'10
gold
1st
11718117's Nor Pao Ter Co 1st g 60 1983 J -J 110
'113 De01011 .
..
85
87
1938 Al87 MaY'10
General gold 48
87
Nor Icy Cal See So Pao
110
Aiontgom Div 1st g 6s 1947 F-A 103 109 108% Mar'10
10814 103% Nor Whi See 0St P
&0
maY'08
75
St L & Cairo coil g 4a..e1030
............ Nor & Mont See N Y Cent
96 J110'10
136
1931 J-J
Guaranteed g 4s
95
IInd &W ,S'ee 0 0 es St L
96
M & 0 coll 48 See Southern
hio Sly RR bee halt &
Mehawk & Mal SeeN C.fo
Ore cf2 Cal See So Pao Co
Monongahela ltiv Bee B & 0
Ore Short lane See tin Pao
&
Al.
St
Cent
P
Mout
See
Oswego & Rome See N 1(3
Alorgan's 1411 ct, T S'ee .P Co
104, 10214 J'ne'10
Deo Coast Co lat g 63-.1940 J-D
102%108%
Morris ‘Ye Essex See Del L&
ao of Missouri bee Alo Pao
107%
21071411014 Penn UR 1st real eel g 40.1923 M-N 103 Bale 103
KT salt Chat & St L 1st 70.1913 J -J 4.10714 10734 107%
103
1 .102 10314
10104 108% 10812 2 108%110%
1-1 1st oonsol gold 58
1928 A-0
1 1014 Jan '(19
Cousol gold be
1919 M-S
Jasper Branch 1st g 63 1923 J -J 115%
11612 MaY'07
.
1011 Feb'10,
(Ansel gaol 4s
100 106
1943 M-N 102
MoM
9814 119
W & Al 1st 63 1917 J •J 100
117'4 Marl/5
----------9812
Convertible g 3128.
9834
1912
u 9814102
113 Ply'04
......
T P Branch let 63... 1917 J -J 109
9515 Sale 95
Convertible g 312,8
1015 J -D
9 ¼14u ' 05
9714
Nash 'nor & Shot Bee L
.& N
1097
.8ale
Consol gold 45
1948 MN 1027
10314 42 102 104%
Nat Rys of Mexpr 141.5 1057 I -J
9304 221 9314 95%
9'3% 9334 9314
110234 Apr'10 „.„ 102% 102%
9314
g 40...1042 M-B
fir
Ailef
1977 A-0 89.8 90% 8968
Guar gen 48
90
5 8814 94/8 De
96
R t Refb g st go 4a g.1313 F.A
1013 10212
102% Mar'10
N atof Alex prior lien 4%3 1926 J -J
Philo Bal & W lat g 48_11143 Al.N 100%
10314 Dee'09'.....1
1961 A-0 .82..
1st ()ousel 4s
84.18J'AVIO
84
102 Jan'03
Sod Bay & So 1st g be. .1924 J -J 100
86
New II & D Bee N Y.N 11444 Li
103% May'101 2-.7. 103%10.1
11 NJ Eli As Can gen 48.1044 M-S 10134
NJ Jane RR See N Y Cent
Penn Co-Guar latg4'weJ921 J -J 10312 Sale 10314 10314 6 103 106
N Y BkIn & Man Bch Bee 1,1
Registered
10334 Feb110,.... 10334 10334
1921 J-J
87.4 60 87% 92
87.8 Sale 87%
NY Cent & 11 /Ur g 3128.1997 J-J
0012J'ne106'
Guar 3128 eon trust reg 1937 51-13 88% 00
86%
87 101 865 9014
Registered
1997 J -J 487
I 80
Guar 3120coll tr ser B 11141 F.A 89
.
8.Ply'101.„. 8914 9114
91 92
93
Deben g 48
1934 M-N
9278 Sale 92%
9554
'1'r Co oertif's gu g 3140 11116 M-N
964' 9612 MaY110'....' 91.314 97%
81% 261 7914 8214
Lake Shore colt g 3120 1098 F-A 81% Sate 80%
Gil 312s tr etls 0
89
1942 J -D,
90 Jan'10
90
90
Registered
7912 79 rne'10
1998 F-A
94
71:1's 80's Gu 315a tr etfs D
1944 J•DI
91 Dee'09 ....1 ....
•
.
-•
•- •
•• •
•
.
•
.
.
•
.
......
••
•
•
•
•
-•
.
.•
.
-•
.
•-•
.
•
•
•
• -•
-•
-•
•-
•-
.
•
•
•
•
•
• •
•
•
•
•
IIIISCELLiNEOUS BONDS-Continued on Next Page
Cool and Iron
Manufacturing .54 Industrial
Bull& Susq Iron s 58.-1932 J-D
11912 Nov109
..
Debenture Is
94 Deo'00
00
a 1926 A1.8
1936 •J
Allis-Chalmers 1st Is
7514 7578 '15 7
84%
76
11 75
Cot r & 1 Co gen 51 g 013..11/41 F -A
97 12 J'iy'10
973,100
96
1028 A-0 100 12 Sale 100% 10014 28 100 103
98
Am Ag Chem 1st o Os
Couvertible deb g 5s....11111
0614 J'ne'10
9'3
1915
002Sale 06%
96% Am Cot Oil ext 415s
08
9614 4 90
Col Indulst& colt 55 gu..1034 F-A
75 J'ly '1()
77
75
3182,4 dun Hide & L 1st sf g 6s 1010
/
4
9614 961
b 0614102
0614
Contin'talC 1st at go 58(4.1952 F -A
'04
1071
/
4
Amer Ice Secur deb g 68 1025 A-0 70
7214 71
71
1 70
73's
Or Ely Coal & C 1st g6s..1010 A.0
in/ 100 102% Apr106
VI% 98
Am Spirits Mfg 1st g Os 1915 M-S
94 Alay'lL
94
116
Jell& Clear0& I let g 53.1026 4-1)
107 Alay'07
.:1(.m Thread lst col tr 48 1919 J -J
1)1 J'ne'10.... 90
934
Kan& II C
91)14101 10514 Dec'01)
1st s g68.19o1 J-J
109
Am Tobacco 40-yr g 60
1944 A-0 1054 Sale 1.05
l04
3c
1053
4
4
Pocah Con Collier 1st f 63.151 J -J
81
WI 83 J'as110
83
83
79 Sale 787
4s.
1961 F-A
79
51, 702 8512
Sunday Creek (k) g Sc 73 Feb'07
- 1044 4-4
Seth Steel let ext al 58 1926 4-')
8514 84%
854 1t• 847 804
Tenu Coal gen be
1951 J.J 1027
,104 102 J'ne'10
102 104% Ault Leather 20-year g 53 1925 A-0
9858 S7
a9
le 9
78:
,
1 jly
9
70
7%4 18
98100
.4
03
2,4
• Penn Div lat g 6s
10312J'ue110
al.017 A-0 102%
10314107
Cons91 Tobacco g 4s
1951 F-A
Birth. Div lat consol 63_1917 J -J 102%
104 Ply '1(,
104 107
Prod _Ref a I g 5s
M-N
Cora
1931
9314
1/4
1.2
Apr'10....
04.8
94
97
Calk.0 M Co 1st gu g 60.1922 J -D 106
110 Jan'09
1st 25-year at Is
1934 M-N
94
94
04
I 033
.
"
la
be Bar (h.fa I Co gu g 63.1910 F-A
100 Jau'10
100 100
Cuban-Amer Sugar cell tr is'18 4.0
96
97
961.2
904 25 881
/
2 97
Victor Fuel 1st s t 5s
87 Aug101)
1953 J
88
:WO Con conV 1st g
Distil
A-0
68
70%
0814
6314 1.0 07% 74%
VaIron Coal&Colat g 53.1040 M-S
915 d'IY':•0
9514 96
9412 100
8512
98's
El du Pont Powder 41.13-1936 J-D
87% 85% Piano
Xo price Friday; Latest bid and asked. aDue Jan b Due ifeb .Due May
g Doe J'ne /41Dae-Ply kDue Aug o Due Oct pDueNov q Due Deo /Flat.
•-••
JULY 23 1910.1
New
t,
- BONDS
N. Y. STOOK EXCHANGE
4gLii
Wurtx ENDm JINX 22
Price
Pridav
July 22
203 •
York Bond Record-concluded-Page 4
Range
111
Week's
Since
Range or
January
Last Sale ,""
BONDS
N. Y. STOCK EXCHANGE
WEICIC ENDING JULY 22
..ot
.0
Price
Friday
July 22
Week's
Range or
Last Sale
Op
Range
Since
January 1
Blot' No Low Hiatt
Attie Low
Bia.
Nig,* No Low High
488 Lou'
Bid
Penn8ylvaula Co-(Con)
93% 43 93% 95%
4 Sale 93%
/
1331
So Pao RR let ref 48
4 90
/
961
'1955 J-3
4 9614 J'ne'10
/
071
Guar 16-25 year g 4s....1931 A-0
15 103%111%
105
103 105 104
'05
Southern-let
1994
J-J
Jan
con
5s
g
110
101
M-N
4128_1935
g
go
Cl S2 Mar 1st
.
.
May'09
110
1021
4
/
J
J.
'00
Jan
1994
4
Registered
1103
4
/
2ssor A.'42 J -J 1031
Cl & P gen gu g4,
Ott'
73
8178
75
741
74
4
/
4
/
741
Develop & gen 4s Ser A 11356 A-0
4 J'Iy'09'
/
1091
4
/
1942 A-0 1031
Series B
4 901
/
4
/
4 85,
/
861
2•T'ne'10 ....I 851
85
Mob
&
M-S
Aug'09,
1938
Ohio
48
coil
g
tr
96
110
1948 M-N
Series 0 3,18
100 110
1
100
106
41071
/
4
/
1051
Mom
lilay'08'
-J
J
Div
1996
g
-5s
4
let
/
41
90
90
A
1950
Series D3'8
4 87
/
81/1
86
81
86 J'ly'10
St Louis div 1st g 48- 1051 .1:-J
92 Apr'071.
110
48 33 1940 J J
1
Erie & Pitts gu g 3/
108 :Sep'08
......
Ala Cen It 1st g 6s
98.4 Apr'041._
90
1940 J •J
Series C
4 Oct '00
/
01
021
18 .J1.-j
Atl & Danv lat g 4a
-J
1948
4 Oct '09
/
1041
4819411J -J , 100
1
Or R & I ex 1st git g 4/
92 J'ne'06
8314
2d 48
4 Ply•10
/
4 106
/
1051
1051
J 104%
Pitts Ft W & 0 1st 7s 1912
At!& lad 1st g guar 481
85
8 Aj:01
4 J'ne'101.
/
9949
4 10578
/
1051
1051
1012 J•J 104.4
2d7s
1013 J'ne'09
Col & Grreenv 1st 68
1916 J -J 104
107 Oct 'Oil
4
/
51912 A-0 1041
3d 78
4 110 Feb'10 -.1106 110
/
1111
E Vs & Ga Div g 58 1930 J•J
May'10'
109
109
109
107
51-N
58.11327
con
Pitts Y& Ash 1st
4
/
4 112 1101
/
4 J'ly'10 -.1 109 1141
/
1101
_
'101
Con
let
10t378
4Jau
/
gold
Os
1071
7's
1071410
49A...1049 A-0
1
POC&StLgu4/
106
EaTitsinidrieaouralile8nt 3
a
N 100 105 106 Feb"o
M-S
8 !'111:516
g85s
107', 103/
103', 10734
4 J'1Y
1
1042 A-0
Series 13 guar
Nctv011
65 1614yUi)::,
J'ne'05
106
112¼
M-N
1942
Series 0 guar
4
/
4 1131
/
1121
1124 Apr'10
08
98
Gm Pao IV 1st g 6s
98 Mar'10,.
° 112
J:J
2A
26
194
1045 51-N
Series D 4s guar
4 1.141
/
....' 1131
4
/
5
04
94
Knox & Ohio let g 6s 1925 J. J
94 J'ly'101
11/49 F-A
4 guar g
/
series E 31
115% Apr'06
Bir prior lien g 68 1945 J-J 102
Mob&
-D
J
1953
Series S'48 guar
......
Nov'08
82
Mortgage
gold
-J
48
J
1046
1117
.8
8J'ne'101....
1
1
1
11114112
C St L & P 1st con g 56 1932 A-0
10614106',
4 Apr'10
Rich ../2 Dan con g
J -J 10314108 106,
1
Pensacola & AU Sec L & Nash
4
1
IOU 10(3 1051
4 May'10 ....' 103 107/
/
Deb tis stamped
Peo & East b'ee(i(1 do St L
'
'08
Oct
75
&
Rich
°
1:
A
314
Meek
7
8
let
2
4
ic
48
11
'10;
Fob
112
112
112
1921 Q.F
Peo & Pek Un 1st g 6s
104
4
/
1021
....
'10
.Ply
4
/
1021
4 .....
/
So Car & Gla 1st g 68
1911) M•N 1021
13014100 1004 Dee'051.
b1921 51-5
48
/
20 gold 41
112 Oct '03
4
/
Virginia Mid ser 0 Gs. 1916 M.S 1051
;
4 75¼
/
751
4 79
/
751
Pere Marquette-Eel 48..1955 J-J
4 Dec'06
/
1081
Series 13 4-5s
4
/
4 1011
/
1011
Mar'10:
101.4 1021
4 Apr'10.
/
11)21 J -D
be
Oh & W
j
.0
eyo'
l/l
9
10
g
S
1
1
3
35
9
(
9
1
1
Seriee E 53
4
1
4112/
/
1111
4.1pr'10'
/
1111
g 6s...
1020 A•0; 105
Flint& P
4 10758
1
-7.1:105/
8
74
:
0
05
1
.
b
General
Dec'u91
4
/
1031
106
1939 M-N
1st consol gold 5s
Deo'09
107
Guar
stamped
101 I 10 101 106
Pt Huron Div 1st g 08 1939 A-0 101 Sale 1.01
91
01 Feb'10 ....LI 91
......
SagIus& Hlstgug4s 11331
4 DM%
/
'1051
556
1 104
J:11
C 1st cY
1451
1114
12
sttiW
ougg
1063$ May'10
4:::1
la 6
7e0
'
AN
NN
P1,11 13 LC4 W See Penn lilt
Ma
135
See
L
90
..
89
4 J'ly'10.••• 88
1
89/
Philippine Ry 1st 30-yr 13148'37 j-J
106 10634 Sep '013
oken° Internat 1st g 58 1955 J -J
Pitts Um & St L See Penn Co
4
1
8107/
107% 1073$ Apr'10
i.-0T,
43 11139 A-0
/
'or A at St L 1st g 41
Pitts Cleve& Tol See B &
4 112 May 10
/
4
1111
/
1151
gold
6a....1894-1944
con
18t
Pitts Ft W & Ch See Penn Co
4 San• 981
/
081
4
/
981
4
/
4
/
11 '37
1381
1953 J -J
g 48
Gen refund
Y
&
I
N
bee
AlcKees
Con
Pitts
4
/
109 May'10 -.1:109 1001
ro ig p
g 5301030 A-0 105
Io
eees
N
i ao
sT
L5
t e6
Bge
z
S
Te
4 112 May'10
/
112 112
4 1141
/
Pitts Sh & L K 1st g bs 1940 A.0 1111
1
0378 J'ly'97
1st consol gold 6s
1943 J -J
4109 1081
/
4 1093,110312 11212
/
J-D 1081
2000
1st
gold
Tex&
Pao
5s
Pitts & West Seell & 0
70
4 68
/
70 Mar'10 ....II 7U
Mar 601
20 gold inc 68
97% 63 97 100
9758 Sale 97
eading Co gen g 4s
1097 J-J
II
103 bep '09
08
La, Div B L 1st g Os
.U
p‘fl
00 J'ly'10
'
ON
95
1.4., Registered
1997 J
10614 Nov'041
If•A
Min
W
W
'JO
5s
&
W
gu
•N
1st
Llti
95%
97.4
05
4
1
/
07
Jersey Cent coil g 48 1951 A 0
4
/
106 DM /
4 1013 Pnequi....11071u 1121
1
Tol & 00 1st g bs
Rensselaer & Stir bee D
......
1
r,0
meap'
106 109 112
u4 S
5
35
93
Western Div 1st g Os 19
Rich & Dan See South Ity
4 10478
/
1045 May'10 ....' 991
3-13
11333
gold
bs
General
Rich & Meek See Southern
4
/
83
881
Kan & M 1st gu g
Rio Or West bee Don& Rio Or
4
1
12/
aiy•l:i u
2 ;
3 Ai.p
98
98
8
ti
4 8
/
Uti1
Pot P ea W 1st gold 48
1917 J•J
Rooll & Pitts See 13 It & P
90%
89
1925 J -J
W
St
3128
To&
pr
g
1.,S0
lien
Rome Vat & Og See N Y Cent
Si
4
/
771
771
4
/
.P1"10
4
/
7131
60-year gold 48
Cent
4
/
Rutland See N
83% 801
84
4
/
841
Coll tr 4s g Ser A
4 91
/
871
agTue & 11 See Pero Marq
69 J'ne'10
89
94
Tor liam da Butt
g 40.51946 -1) 84
8658 89 J'110110
85
106
tJo& tsr tel 1st g 48 11347 J•J
Wu
J'ne'101......1
100
I03
later& Del 1st con g 5s 1928 J -D
St L & Cairo See Mob 5 Ohm
81.1 (./ct
U let refund g 4s
St L & Iron Mount See Al P
1008 Sale WU% 100% 00 WA. 102
ois
ag
Pte
litietr&
Un i
ed gr g 4s 1M
13r b'ee T RR A of St L
4
/
4 1011
1
St L
LW
101.8 4' 118/
1
19244,
Apr'10
120
0
2
19
J-J
If-Jong
S
68.11131
&
Louis
Elt
102',Sale 102% 103 286 1016.110',
e
18iyz cony
20
g121009924787
4s4s
105 10834
10(P2 1001
4
/
11131 J -J LOU
General gold 50
2
8%
138
44, 0
1
,,
4/
4 12
/
61
1,, 95
115
0
4
/
6
51
3
0
bale
4
/
951
85
88
130 Mar'10
St L 25 1' RR cons g 48-'96 J -J
913
Ore IV & Nay con g 48 11116 .1-I)
4 bate 80%
1
86/
b6,2 64 8514 90
1927 M-N
Gen 15.20 yr is
4 J'Iy'10 ....1 11314 117
1
113/
1131
4
/
F-A
192,2
Ore
Short
1st
gl3s
Lino
'10
911
Apr
4
/
4
1
/
1001
4100
/
.• 1001
Southw Div 1st g 68 1947 A-0
4113%
/
4 111081
/
4 1081
/
4 1081
/
let C011801 g 68
11340 J -J 108 1091
71358 iialb 7958
80
95
10 70
1051 J-J
Retunding g 48
4 11178
/
18' 911
93
4 bale '32',
/
1321
U argistered
retu nd 4s
4
/
116
114 1171
NO 1ft 55 M con g tie 11128 M-N 113 114% 115
I
'09
Jan
94
!261
7
1
b
L
82.
4
1
/
4 27
/
4
/
781
K0/MS& M RN'rot g 4s 11336 A-0 78 Sale 771
..
'Olt
Dec
%
107
Dig
Utah& Nor gold 58
4 Doc,09
/
1001
K O& R& 13 Ditgu313.19211 A-0 05
UniNJ 33t&0CoSeaPa
4 u014 J'ne'10
1
; 97
1/61
Oz'rk& Oh lstku 58 g.11/13 A-0 97% 97/
Utah Central Bee Rio (hr Wes
tit Louis So See Illinois Cent
90
4
/
891
00
10 8814 imas Utah So North See On Pacific
St LS W let g 4s bd °MAIM M-N
It See N Y Cent
43'no'l0
/
8 bi1
79,
80 14 82 Utica & Black
20 g 48 me bond otls...p11180 J -J
......
1.18 Nov'08
Mb F-A
701
audalia consol g 4s
4 Ply'10
/
70
7978
76
1932 J -D
Conaol gold 4s
96
L36
9)3 Apr'10
481934 J-J
/
101% AlIr'07
............ / era Cruz &Plst gu41
Oray'ePtTer lstgu g 513 1947 JD 03
P
llo
bee
&
W
Ind
Val
Ver
d t Paul .11, Dui Sec Nor Pacific
Ry
South
See
Mid
Virginia
St P Minn tr.: Man Sec Ut Nor
4 108 J'ly'10 ...„ 108 108
/
Va & tiotaltiv'tIst gu 38.'2003 J-J 105 1101
dt P 5 Nor Pao See Nor Pao
4 1/838
1
94/
115 J'ly'10
4 LI5
/
11158 A-0 941
let cons 60-year Os
tzi'sOity Sea:6ti'M
•
1o7', 17 10/ 113%
sale
107
107
M-N
1939
5s
4 W abash 1st gold
/
4 881
/
4 13 831
1
84/
4
/
4 84% 831
/
841
J •J
8 A.& A Pees 1st gu
4
/
21 110 1031
100
99 sale
Os
gold
20
'09
Oct
104
4
/
081
P1st
8111k
I
g 58.1011.1 J
• &N
4 86 ItiO 300 Dec'Oil
BB 1Debenture series 13
Say le& West See AU Coast L
102
luu
„...
Pne'10
100
100
let lien equip fd g 58-1921 51Moto Val & N E See Nor& W
90
90
Mar'10
85
82
334 8
5
let lien 150- yr g term 40.1954 -3
80
7
7%
83 Ply'10
Seaboard Air Line g48
A.0 8314
4 Sale 03/
1
63/
043$ 167 1333$ 77%
4
1
1956 J.J
et ret and eit g
09 100%
4 991
/
4 99 Ply'10
/
11111
Coll tr rotund g 66
1911 M-N
8
,
10
107
4
1
/
MaV10
1071
4
/
104',,
Dot 4110 Ch Ext 1st g 5s 1941 22
73
4
/
721
73
Adjustment bs
01941.1 F-A
......
83 Dec'00
Dee Moin Div lst g 4s 19311 J
87
80
230 Pilo'11
811
8
76,
30-yrIst g 4s e.1.1133 51-S
75
Apr'10...,
75
2s
31
g
Div
1st
Om
4
/
911
01
1102 .iiat'10
1)3
110
Car Cent let con g 4s...1949 J -J
LW
110
4 110 Jan '10
/
-S
67
A87711
1M
Tot fit Ch Div 1st g 4s. 1011
O
103 Apr'10.... 103 103
4
/
Fla Con & Pen 1st g 68.11/16 J • J 100
521
4 11 33
/
, 351
85 bale 33
J-D
Term
g
1st
48.1054
Pitts
Wab
let laud gr ext g 6s...11330 J -J 100
64
35 bale 32
3514 46 33
Trust Co certts
4
/
);.; 1001
.
lik
1001/4 May'10
Consul gold Os
4
/
111
1043 J -J 100
4.
U
S'
Sate
i
0 8al
6
.
-1)
.
1954 3
'20 gold Is
4 Mar'10
/
1041
104 101,2
Ga Be Ala Ry 1st con 68°1046 J -J 100
4
/
4
121
115
s
47
cents
Co
Trust
4
/
1041
,„„
104
Ga Car eb No 1st gu g Os 1929 J -J 101 106 104 J'Iy 110
Warren See Del Lao & West
100 1013
106 Apr'10
deab & Itoa let Os
1926 J
See Nor Pao
Werth
Cent
kW See M 1&T
81= Shr
Wash 0& W bee Southern
8116p Oca & U See Atl Coast L
4
/
4 901
/
881
88,2 May'10 „
4s-1946 F-A
/
Wash Terml 1st gu 31
Southern Pacific 004 861
/
4
/
8278 82%
17 821
83
West Maryland 18t g 4s...1952,A-0 82
0
90
90
4 95
/
891
00111 45(Cen t Pao coll)./c1940 J-D 8958 90
73
11
2
711
Feb'10
10521A.-0
43
g
cony
&
Gen
00
go
'JO
90 fly'10
Registered
/c1940 J
68,
2 74%
4.Apr'10
1
73/
Trust Co certfs
07 283 96 10014
1)(33 Sale 963$
71929 ZS
20-year cony 4s
4 Nov'09
/
4101 1001
/
WVa Cent & P lst g 68 1911 3-3 1001
95 7 12 941
4
/
4 071
/
904 03.8
110%
Cent Pao 1st ref gu g 4s113413 F-A
J'ne'10
4
/
11111
110
109',
-J
J
58..1937
g
West 14 Y& Pa 1st
9'7
97
97 Feti'10
10411 F-A
Registered
110,492
92 Mar'10
1943 A-0
Gen gold 4s
4,Ply'10
/
871
88
87', 89¼,
4s..K1021.1 J-1) 87
1
Mort guar gold 3/
IfelP07
31
Nov
3,
1
t
,
i
t
943
Os
Income
94
91%
4 92 J'ne'10
/
4 1131
/
Through St L 1st gu 48 '3.1 A-0 871
4 Weet No Car See South
/
4 1001
/
1061
10514106', May'10
10134 10138
ll II& A 51 &P let 38 1031 .1/1-N
105 104% Feb'10
WheePg & L E lat g bs 1926 A-0
104% 8ep 'UO
Ulla VG&N 18t gu08 1024 M-N
103 101 Jan •10 ,„, 101 104
Wheel Div let gold 58 11328 J -J
10514 Ma3001/
09 102
lions K & WI 1st g 68 1933 M-N 1U4.4
J'ne'10
102
101
Exten & Imp gold 5s. 193U F-A
4
/
185 1051
4 105 J'ne'10
/
4 1051
/
1933 5/1-N 1041
4
/
79
871
1st guar 58 red
71/34 7034 J'Iy'10
RR let consul 48........1949 51-8
& IC lot g 5s int gu 11137 J -J 100 8 110 110 LA r3a01 0 • 10914 110¼
Deo'Ve
913
133
-J
t
J
equip
s
20-year
be
...1922
NOV01)
............
Con8ol g 68 hit guar 1912 A-0 10844110 Mk,
Wilkes & itaist See Erie
" 02
1313
J'I
4
/
81
0
94
92
Gen gold 4s int guar 1021 A•0
4 Mar'10 :::: 110,
/
11131
4 1191
4 Wit & Sioux F See StP Si &
/
95
Waco& N W
18t g 68'3u 11144
91% 6 90
90%
91
Wis Cent 00-yr let gen 45 11141 J.J
4Jau .00
/
1071
01
1941 J -J IOU
A & N W lat gu g bs
41 6 90
/
901
90
80
90
Sup& Duidiv& term 1st48'36 M-N
„„
............
Aug'08
12214
Morgan's La & 1st 76 1918 AU
11(3 2'suvq/13,,
11120 J-J 109
1st gold tie
Telegraph and Telephone
112 Feb,07.
93
1038 A-0
No of Cal guar g Os
891
00 Pne'101..... IR)
4 90
/
&m Telep .31, Tel coil tr 4s 1920 J-J
100 l'ne'10 ...„ 100 100
Ore & Cal lat guar g 68 11/27 J -J 1)10
4
/
991
4 lt/U/
/
4 112 99 1061
1
4 100
/
103U,M•8, 091
Convertible 43
104 12 J'ne'08
111)
So Pats of Cal-6s & 8' 1912 A•0 1023$
98
4j'ne'10
/
081
07
Mich State Telep let 68 1924'F-A' 96
'114141)'1o'04
4
/
1st gold 68
11112 5-0 1021
1/9
90
.34
96',
VON'
Salo
1
412s.'39;31-N
gene
&
1st
96'2
Telep
Y
N
'116 May'))?
1st eon guar g 68
99%
1937 11-N 107%
06 I 13 95
4 951
/
951
4
19.57:J4! 95
Pee Tel& Tel let Os
4 101 Mar'10.... 101 101
/
Braootli Ilex let g tis 11111 J -J 1004 1001
4
/
97/
1. 97% 1 97 1001
118
West Union coi tr cur 68 19:38 J -JI 97
93 I OU Ply'09 .... ......
84
So Pao Coaet 1stgu4tsgj937 J •J
4
/
133% 971
....
'10
J'ly
%
93
4
1
/
031
94
4
/
14)50,M-Ni
3
4
est
/
41
g
real
anti
ltd
110178 May'10 .... 10178 10212
4
/
Tex&NOSabDivIst g6s.11/12 51-S 1011
102%
87
1
LOU',
4
/
011
101
4
/
1011
19.36 1X-N: 101
Cony 4s, Series A
102 NOV00 .
Con gold Os
11143 J -J WO
-
T
12)4
S
MISCELLANEOUS BONDS-Concluded.
Manufacturing & Industrial
Mantilacturing & industrial
4 100
/
26 961
98% Sale 0814
99
Va-Car Chum 1st 15-yr Os 1923 J-D
43..1942 F.A
/
82 Jan'Iu .... 82
Gen Electric deb g 31
82
4 03
/
t53 '31 J.J
16 8t31
87
4
/
87 sale 861
4 WostLughouse E & 518
/
1917 J-1) 131 135 133 J'ly'10 .... 133 1471
10-yr g deb Os
Mlacellaneous
3 100 105
101
101 101
jut Paper Co let con g 68 11/18 F-A
4
/
931
b 92
1948 M-S
931
4
/
4
93,
Ool tr g 4s
Ex
93
Adams
4
/
891
J'zio'10
1935
84
-J
J
ii
Os
86
g
t
4 841
/
821
4
/
Consol cony
4
/
4 941
/
27 901
91
48'30 J-D
1
91 Sale 903$
901, Arinonr &Co Dit real est4/
4 18 92
/
921
4
/
11129 11.9
03 '021
Int St Pump 1st sI Os
89
4
/
871
....
Pne'10
4
/
871
2
5
5
9
89
4
/
871
A-0
Bush Terminal 1st 48.-19
9578 100
1923 A•0
973r 97 .7'13"1,0
Lackaw Steel 1st g Os
98
96
98 J'ne'10
07
96
.14
013
Corm'
e
97%
Mayq
4
/
051
19213
J-D
9512
Nat Enam & Stpg let 5s
95%105 IOU Jan'08
4 Chic Jo & ct Yard col g 53 1915 2.3
/
'2 100 1141
1114
N Y Air Brake 1st cow; Us'28 M•N 10214104 101
35
40
35 J'Iy'lb
40
4 DetM & M Id gr incomea 1911 A-0 35
/
4 951
/
2 961
97
97
07
lty Steel filige I st s f 6s 1921 J -J
98
96
97 Mar'10
4
/
951
1943
1i-N
s
4
/
41
Wks
Irrig
for
wait
I
10314104
104 104 J'ne'10
Repot,1 & S lett& coltr 68 1934 A..0
4
/
711
60
62
4
1
/
51
61
tiale
4
/
1922
611
A-0
28
4,
Marine
Morcott%
4 Int
/
03: 001
03 May'10
Union Bag & P 1st et 56 1930 J-J
83
80
4 J'1y'13 .
/
801
.
.
.
lets I 58 1929 F-A
Navigation
int
,,
96,
93
90
95
May'10
93
Stamped
Deo'01/
135
85
J-J
01990
5s
D
D
&
Ship
N.
Nero
103
1 101,2
4 103 1041
/
4
/
1041
4 1041
/
U n Leath CO s Ideb 038..1913
.ii61; u4
4
/
IIU1
11014 91
4 N I Dock 50-yr 1st g 4 1951 F-A
/
041
2 87
81)
87
87
87
U S Realty & I cony deb g 68'21 J-J
90
00
4 1.10 May'lb
/
1957 M.N
841
83
4 Providence Sec deb 4s
/
001
. 88
87
881
4 Apr'I
/
118 Rest& Ref let sI g 68.1931
J'iy'01)
115
ALS
1921
Loan
8
Soo
4
/
41
rrovutent
4
/
8 1.021
4 • -16 102 1041
/
J •D 102% Sale 102,
U S ItulMer 10-yr cull tr
'04
J'ly
J.
112
J
Wat Go con g68 1923
U S 1-tool Corp-5 coup .01963 SI•N 11/2% Sale L02% 103 224 [0114105¼ 3 Yuba
101 101
101 FelPlu
80
102 10654 Weelt Water Pow 1st 5a 19'39 J.
103 10.3% Ply'10
st In•130 yr• Os. 1 rug _01903 51.1i
- -oDat3Oet p Due Nov sOvtiou Salo;
*No price Friday; latest bid and asked this week. b Duo Fob-a Lilo Apr a Duo May g Due .T'ne Due •Pli kDue Aug
CHICAGO STOCK EXCHA.NGE-Stock Record-Daily, lAreekly. and Yearly
STOCKR-IIIGHEST AND LOWEST SALE PRICER
Saturday
July 16.
Monday
July 18.
Tuesday
. July 19.
Wednesday
July 20.
Thursday
July 21.
Friday
July 22.
Sates
of the
Week
Shares
STOCKS
CHICAGO STOCK
EXCHANGE
Range ;o;
Year 1910
Lowest
flange /or Previous 2 ear
(19)9)
Highest
Lowest
Rai!roads
170 185 *170 185 8170 185 8170 185
Last Sale 185 Meh'10 .....- Chicago City Ity
100 185 Mch 7 185 Mch 7
*212 _-__ *212 ---- 8212 ---- *212 -___
Last Sale 2
May'10 ......- Chicago & Oak Park 100
2 May25
312 Jan 26
*6
___ *6-- *6
__
86
Last sate 512 June'10 ____
717 Jan 7
Do pref
5 MaY25
100
70 70 *70 -7-5
70 70 *70
75
*70
10 Chic Rys part ett "1"___
*70
75
75
67
May25 109 Jan 3
*1512 17
1534 1534 *1517 16
*1512 16
15
15 815
14 May23 36 Jan 3
16
50 Chic Rys part ctt'2".._
*812 10
*812 10
*812 10
*812 10
Last Sale 9
June'10 --__ Chic flys part ctf "3"-_
8 May26 16 Jan 10
*5
612 *5
612 *5
612 *5
612
Last Sale 5
July'10 .._ Chic flys part ctt "4"___
3 May24
918 Jan 6
*2
214 *2
214 *2
214
238 238 *214 212 *214
85 Chicago Subway
213 J ne29
100
212
5 Jan 15
2512 *22
*22
2512 *20
25
*20
Last Sale 26
25
May'10 ___ Kans City Hy & Lt 100 20 May18 39 Jan 5
80
*68
*68
80
*65
70
Last Sale 70
70
*65
Do pref
July'10 ____
100 69 Feb 17 7731 Mch30
*18
20
*1812 23
*1812 23
*1812 23
Last Sale 20
16 Jan 14 25 J'ne21
100
July'10 ____ Metropol W S Elev
*60
6212 *60
65
60
60
65
860
*61
65
*60
100 51 Feb 7 72 J'ne 22
1
Do prof
65
*18
23 *18
23 818
23
23
*18
Last Sale 20 June'10 __ Northwestern Elev
100 15 Apr 1 23 J'ne24
*_ 65 8____ 65 *__ 65 *__. 65
Last Sale 65 June'10__
Do pref
100 53 May31 60 J'ne21
*60
64
*60
64
860
64
*60
64
180 South Side Elevated_100 5514 J'ly 5 7212 Jae 22
63
63
63
60
88
814
8
812 *8
812 *712
8
814 *8
*8
8 J'no 4
10 Streets W Stable 0 L_100
8
6438 Jan 3
*43
50
*40
50 *40
Last Sale 45 June'10 ......
50
pref
50
*413
Do
100 45 May27 104 Jan 6
Miscellaneous
838 838
838 858
814 838
812 817
812 812
77,8
100
935 American Can
814
6834 69
6873 69
6812 6612 68
6878 6878 6878 6878 68
pref
Do
100
955
*238 250 *238 250 *238 250 *238 250
Last Sale 250 June'10 ___ American Radiator_100
*125 128 *125 128
130
*125
126 126 *125 128
*125
prat
100
Do
130
11
*82
*82
83
83
882
8312 8212 8212 *80
8212 80
8018
320 Amer Shipbuilding-100
810934 110
10934 110
10814 10834
10934 10934 10834 10912 810814 110
pret
Do
100
320
133 133
13218 13217 13214 13214 *132 13312 133 133 813112 132
300 Amer Telep & Teleg
Last Sale 18
__ ____ ---100
June'09 ____ Booth (A) & Co
Last Sale 14
Do pref
100
June'09 __
Last Sale 35
-31July'10 __:: Booth Fisheries com_-__
*59
60
59
*58
59
60
60
*58
59
59
59
Do pret
59
143
*48
*48
50
*48
50
*48
50
50
Last Sale 50
May'10 __ _ al & Chic Canal & D-100
*1
118 *1
118 *1
Last Sale 1
118
118 *1
Apr'10 __:_ Chic Brew'g dc Malt.g._
*2
3
Last Sale 212
*2
*2
3
3
*2
3
Nov'09 ____
Do pret
*3412 3517 *3412 3512 *34
36
*34
30
*34
36
34
35 Ohio Pneumatic Tool_100
34
8117 11712 11712 118
118 118 *11712 118 811717 118
118 118
65 Chicago Telephone....100
Last Sale 214
____ __
---- ---Meh'08 __
Do rights
*147 148 *147 148
8L-16
..- 1-4-iLast Sale 148 July'10 ....:: Chia Title & Trust-100
11212 11212 112 11217 112 11212 11012 112
10934 11012 110
11012
199 Commonw'th-Edlson_100
Last Sale 138
____ ___ ____ ___
Feb'10 ____
Do rights
1412 1412 1414 1414 -------------- 1418 1418 *14
15
175 Corn Prod Ref Co corn__
_._ -__ -_-- --- ---- ------Last Sale 7914 Apr'10 ---pref..do
Do
9512 *93
95
;$3.75 -9-5.2 9512 9512 94
94
94
9014 93
277 Diamond Match
100
6012 60
60
61
5978 61
6012 62
62
62
50
60
1,424 Illinois Brick
100
*44
___
*44
_ *44
*44
Last Sale 4312 Meh'10 ___ Masonic Temple
Last Sale 55114 July'10 _
P- - 1512 *. . 1512 *- . 1512 *. . ..15512
MeCrum-Howell Co__100
9512 ie
53
9614 9512 96
96
9
.ii
96
*5L
Ho
Do pref
Last Sale 218 -June'07 ____ Milw & Chic Brewing
____ _- ____
8____ 21 8.._ 21 8____ 21 8..___ 21
Last Sale 20
Nov'09 __
Do pret
8102 10334 8102 10334 *102 10334 *102 10334 *102 104
103
103
50 National Biscuit
100
118 118
118 118
118 120 *118
812112 123 *12112 123
121
Do pref
132
100
115 115 *115 11612 8115 11612 8115 117 *11434 116
8114 115
21 National Carbon
100
Last Sale 118 June'10_
8118 120 *115 120 *115 120 8115 120
Do
prat
100
10618 10618 107 107
106 10612 10618 107
10534 10612 10512 10512
383 People's Gas L&Coke_100
Last Sale 11-16 Meh'09
-- ---- ---- ---- ---- ---Do rights
_
i8F 01 155 156
15412 155
154 155
15412 155
15314 154
1:365 Sears-Roebuck com_100
11818 11812 11814 11814 *118 11914 *118 11914 *118 119
118
11832
Do pre
56
100
10234 10234 10212 10212 10234 103
10318 10338 103 103
10212 10312
478 Swift & Co
100
o170 172 8170 172 *170 172
170 170 *170 172 *170
172
20 The Quaker Oats Co-100
Last Sale 634 June'10 ___
---- --- ---- -Do rights
Hi" f(if- iör for 102 102
10312 10312 *101 102 *103
104
Do pret
35
100
678 678 *618 7
*612 7
634 634 *612 7
116 Unit Box Ild & P Co_100
*612
7
Last Sale 734
Apr'09
_.Do pref
100
'742- -1i- ;ii" Ti"
June'10 __:_ Western Stone
Last Sale 15
100
;55- -3-E- ;55- W- ;55- -35-- ;55-
.iiii- fig.-
.76-F -1-,z- ;IF -g
Chicago Bond Record
BONDS
CHICAGO STOCK
EXCHANGE
Week ending July 22
Interest
Penal
Price
Friday
July 22
Week's
Range or
Lass Sale
658 J'ne30
6612 J'ly 22
240 Apr 25
1.6 J'ly 19
72 Feb 7
10314 J'ly 22
13218 J'ly 18
31 J'no 6
56 J'ne 6
50 Jan 11
1 Feb 4
34
110
1358 Jan 30
82 Jan 4
250 May 6
135 Apr 4
8417 May16
112 Jan 11
14218 Men :
3934 Jan
74 Jan
5.5 Feb
1 Feb
8
4
17
4
J'iy 22 47 Feb 11
May17 137 Jan 3
142i2 Jan 21
10934 J'iy 21
114 Jan 26
1312 J'ly 9
7914 Apr V
9014 J'iy 22
54 J'ly 7
4312 Mch 9
40 Mehl?
93 J'ne28
163 Mettle
12112 Jan 11
2 Jan 13
2234 Jan 8
82 Feb 28
127 ;an 6
91 Mch28
46 Jan 7
60:4 May26
10234 Apr 20
103 May 1
118 J'iy 19
104 Fee 24
112 Feb 10
10334 J'110 6
115
125
120
121
11534
148 Feb 7
118 rne 29
10112 Jan 25
162 Jan 13
6 J'ne 22
101 J'ly 16
814 Apr 28
16612 Apr 14
122 Matt 14
10058 Jan 8
186 Feb 19
9 May26
106 Jan 6
1&3s Jan 3
15
.1'tin An
'Ilk
'
Jan 7
Jan 18
J'ly 1
Meli30
Jan 3
A nr 1
Highest
180 Mch 190 Feb
117 Oct
4 Jan
5 Oct
15 Jan
9778 Dec 11912 J'1Y
36 Deo
4534 Jan
1012 Dec
30 Jan
8 Dec
1312 Jan
314 Dec
2914 Jun
30 Dec
52 J'19
78 Dec
8612 May'
1518 Sep
1912 Dec
47 Jan
59 Dec
17 Nov
25 Slay
63 Jan
73 Slay
50 Jan
61 May
541. Dec
2914 Apr
97 Feb 108 - Deo
778 Jan
1514 Nov
7134 Jan
86 J'ne
100 Jan 22514 Oct
126 Jan 132 J'iy
5418 Apr
8118 Deo
101 Feb 112 Sep
139 Aug 145 No
IR Joe
1 Jan
14 May
6 Jan
10 May
40 Dec
48 Joe
7512 Deo
5114 Jan
58 Apr
1 Apr
1 Apr
218 Apr
217 Nov
20 bitch
42 Dec
127 Jan 140 Sep
117
107
Jan
Jan
152 Oct
12112 J'iy
1718 Feb
7014 Mch
117 Jan
28 Jan
43 Jan
2518 Aug
8812 May
13034 Aug
8812 Dec
47 Sep
20 Nov
9718 Jan
11814 Feb
82 Jan
110 Jan
102 Jan
12 Feb
65 Jan
101 Jan
10017 Jan
119 Jan
21 J'ne
11914 Sep
130 Sep
10812 Dec
124 Nov
11978 Aug
1 Mali
16912 Dec
12134 Oct
11414 Aug
162 Dec
9817 Jan
68 Feb
334 Meh
i 5 Feb
105 Dec
158 Sich
012 Jan
25 Mch
Chicago Banks and. Trust Companies
Bads
Sold
Range
for
Year 1910
NAME
Outstanding
Stock
Surplus
and
Profits
Dividend Record
In
1908
In Per- Las; Paul
1009 iod
Ask Low
High Na Low
High Calumet National
$40,392
$100,000
6
An Dee '09, 6
Amer Strawb'd 1st 6s..1911 P -A
9934 Mch'10
204,053 10
500,000
10
09
_,34 9934 Chicago City
J-J July '10, 5
Armour & Co 434L._1939 J 1) -9114 Sale
pug
9112
5
9912 Commercial National_ 8,000,000 3,733,072 u12
ull
Q-J July '10, 2
Aurora Eigin&Chic 5_1941 A Continental National
9,000,000 5,209,551
8
8
Q-J July '10, 212
Cal .53 So Chic By Co
Corn Exchange National 3,000,000 5,215,397 12
12
Q-J July '10, 4
1927 F - A
lit M 5s
102 J'ne'(1)
Drexel State
6
22,020
9 (2-) July '10, 112
200,000
Cass Av & F G (St L) 5s '12 J - J
10114 Oet'09
Drovers' Dep National_
377,552
41h
600,000
10
Q-J July '10, 212
Chic Board at Trade 431927 S-i)
100 May'07
Englewood State
31,816
200,000
6
6
Q-J July '10, 112
Chicago City Ry 5s......1927 F - A 10134 102
10134 10134 12 10134 1031-4 First National
10,000,1100 10,534,793 12
121 Q-M June30'10,3v
Chic Consol Br & mit Os__ J
J
103 Apr'04
First Nat Englewood
177,944 10
150,000
10 Q-M Jne 30'10,212
D
Chic Consol Trac 4 5is 1939 J
60 Apr'09
500,000
Priv ate Ba nk
---- Foreman Bros B'k'g Co_ 1,000,000
Chic Auditorium Ist5s1929 F - A
9634 Jan'04
Fort Dearborn National 1,000,000
396,273
8
8
Q-J July '10,2
---Chic Dock Co 1st 4s_1929 A - 0
wHamllton National
(w)
500,000
5
6
J-J Dee31'69,212
Chic Jo RR 1st Hg 5s_1945
-s
-174-12 De-a§
Hibernian B'k'g Ass'n_ 1,500,000
921,617
8
8
July '10, 2
Q-J
Chic No Shore Elec 6s.1912 A 87 Feb'06
Kaspar State Bank
200,000
125,145 10
10
J-J July *10, 5
Chic Poe 'Pool 1st 5s-a1921 J - J
87
8612June'10
141; "
873-4 La Salle St National
1,000,000
250,155 Beg. b us. Ma yi'lu V.90. p.1277
1927 P - A
Chic By 5s
98
9734
9734
3
Live Stock Exch'ge Nat 1,250,000
4
10138
973
452,391 10+2
10 Q-M Me 30'10217
Chic Rys 4-53 series "A" A 88 J'ne'10
88
9518 Nionroe National
300,00s
64,726
4
4
Q-k Aug '10.1
7517 75
Chic Rys 4-53 series "13" J D
7538 10
Nat Bank of Republic
75
86
2,000,000 1,198,085
8
8
Q-J June30'10, 2
Chic Rys 4-5s series "C" -A
90
9012 Mehlu
!oNa
9017
ttonal
91
City
1,500,000
353,752
July 10, 117
3
6
Q-J
Chic Rys coil 6s_..1913 F - A
9838
9838
9712 10118 National Produce
76,395
250,000
3
Q-J July '10, 117
Chic Rys Fund 6s 1913 F -A
98 Sale
98
98
1
98 93
North Avenue State
73,141 --r200,000
63,5 Q-J July '10. 134
2;1
Chic Rys Tern Ctts 1st 5s
10018 Apr'10
10018 10034 North Side State Sav'gs
22,603
50,000
6
Q-J July '10, 112
Chic It I de P RR 4s_2002
- N
6612 Aug'08
North West State
200,000
10,207
July '10, 1
Collat trust g 5s.....1913 VI 6617 July'08
People's Stk Yds State_
300,000
July '10: 212
93,550
D
Chic Telephone 5s____1923
102
10178 July'10
17E4
1017Prairie
250,000
National
.68,225
3
Commonw-Edison 53_1943 in.
141178 Sale 10034 101
17 10014 10212 Prairie State
64,496
8
500,000
Q-M
6
Jilts 30'10 112
J
Chic Edison deb 6s_1913 J
100 .Pne'08
Railway Exchange__-250,000
.22,809
2
None
Jan '08,2
1st g 5s___July 1926 A far 10012 100 June'10
100 fail; Security
169,421
Q-J July '10,112
300,000
134
Debenture 5s___1920
S
10038 Aug'09 _200,000
South Chicago Savings
85,000
(
14 July '10, 2
Commonw Elect 5s51943
- S 16674 10034 10032 10032
1 faiii 1E4 SouthSide State
200,000
4,000 Beg. b us. Sep t. 09 V. 89, p. 817
Illinois Tunnel 5s____1928 J -D
80 Deo'08
12
State Bank of Chicago-- 1,500,009 1,682,896 11
Q-J J'ly '10, 3
----Kan City By & Light
180,91s
8 Q-M June30'10,2
7
250,000
Stock Yards Savings,.__
Co 5s
1913
N
43,024
- 9434 JUly'10
9434 9934 onion Bank of Chicago_
200,000
6
May '10, 3
Knick'b'ker Ice 1st 53 1928 A __ 100
96 Meta'09
Wendell State__
7,418
6
50,000
None Q-SI Dee.31'08,112
Lake St El-lit 5s---1928 J
J
80
81) May'10
392,518
American Trust & Says_ 3,000,000
86
6
Q-J July '00, 2
Income 5s
1925 Feb
16 klay'05
866,154
Central
7
2,000,000
7
Trust Co ot Ill_
1-1-J July '10, 2 Metr IN Side E2111,068
163
Chicago Say Bk & Tr__ n500,000
6
Q-J July '10, 112
1st 4s
1938 F - A
81
2
81
81 Sale
80
84
Chicago Title & Trust__ 5,000,000 11,319,160
6
6
Q-J July '10, 2
Extension g 4s____1938 J
J
7912June'10
78
6,992
50,000
80
Citizens
4
7934
Trust & Savings
4
A-0 Apr9,10,3
Morris & Co. 454____1939 J
J
9032,1une'10
502,189 8+2 8+2 Q-J July '10, 213
8912 9314 Colonial Trust 5: Savings
600,000
North West El lit 43_1911
S
947
95
95
114,207
9334 9614 Drovers'Trust&Savings
200,000
763
8
Q-J July '10.2
No W (.4-L & Coke Co 53'28 Q - M
91) Apr'10
99 99
191,039
99
1,500,000
9614 Farwell Trust Co
3
Q-J July '10, 112
1945 fl - N
Ogden Gas 5s
9212
94
941:
9412 9412
2,500,009 2,964,148
First Trust & Savings
13 Q-M June 30'10, 4
Pearsons-Taft 5s
1916 J -D
10032 Meh'09
10,554 lice-t;t7p orated 1908 V.87.9.1138
200,000
Guarantee Trust & Say_
4.403
51 96
____
9612 1;1-2
9612 Mcif10
1,410,412
6
Harris Trust & Savings_ 1,250,000
963 Q-J July' 10,3
4.60s Series
.11-N
97
__
97 Fealu
117
Illinois Trust & Savings 5,000,000 8,746,624 113+4 16+4
July'10, 4
St-lu
4.80s Series F
9812 9812 Kenwood Trust & Savgs
9812 -. 9812 Sich'10
52,440
6
614
200,0011
July '10, 134
Peo Gas L & 0 1st 63_11143 A 12134 May'09
36,287
434
200,000
5
Lake View Trust&Saygs
July '10, 112
Refunding g 5s.......1947 SI isffor2
10114July'10
10
- 41
.
0-3-1; Merchants' Loan&Tr Co 3,000,000 5,813,218 12
12
Q-J July '10, 3
Chic Gas L&C 1st 5s1037 J - J 103
103
103
103 10412 SietropolitanTrust&Say
211,315
6
6
750,000
Q-J July '10, 112
Consum Gas 1st 5s_1936 J - D
102 Bleh'10
102 10212 Northern Trust Co
8
1,500,0011 2,271,139
8
Q-J July '10, 2
Mut'l Fuel Gas lst5s1947
N
10117 Dee'09
61,701
6
200,000
J-J July '10,3
6
N orth- Western Tr&Say
South Side Kiev 4635.1924 J -J
-972-11 92
92
92
92
200,066
Pullman Trust & Savo _
94
8
500,000
8
Q-J July '10, 2
Swift do Co lit g 5s_1914 J - J 100 Sale 100
100
100 10078 Sheridan Tr & Say Bank
y23,43i Beg. b us. J'Iy 120 V.89,p.141
200,000
Union El (Loop) 53_1045 A 88 Apr'10
28,926
88
88
Stockmen's Trust de Say
5
5
200,000
July '10, 3
Union Pacific cony 43_1911
N
-- 114 Nov114
1,200,000 1,162,581
8 k8+2 Q-14 June 30'10,2
Union Trust Co
United Box Board col 63'26
70
63
70 Apr'10
207,424
77 70
Western Trus: & Sayings 1,000,000
6
July
Q-3
'10. 112
General mtge 63
66
65 June'll,
1 - J 60
65
97,141
200,000
West Side Tr&Say Bank
65
Juno 30'10.'2
Western Stone Co 5s_1909 A • C./
8512 Julyili
49,844
WoodlaWn Tr&Say Danis
200,000
5
8
Q-J July '10. 2
Note.-Accrued interest must !re-a-tide(i is; all Chicago h mut
* Bid and asked prices; no sales were made on this day. 1' June Jo (close of business) for national banks and July 1 opening of business) for
butte institutions.
No price Friday; latest Price this week. a Due Dec. 31. b Due June. k Also 207 In
stock. n Capital and surplus to be Increased, q Dividends are paid Q-J.
with extra payments Q-F. s In addition the equivalent of 4% more came from First
1909, u Stook increased in 1909. v In
Trust
31
Dec.
&
Bank.
Sayings
t
addition the equivalent 01 1% came from First Trust 5; Savings Bank.
to Hamilton National Bank absorbed by the National City Bank, See V. 90. p. 538.
March 30 1910.
Bid
____
•
.
JITLY 23 1910.1
• 205 I
THE CHRONICLE
Bid Ask
Industrial and Aliscel.
Ast
17 1114
15
100
00 7
/Crucible Steel
fist
e Preferred
96
7612
Davt.:-Daly Copper Cu_10 *112 134
125
TRANSACTIONS AT '1.11E NEW YORK STOCK EXCHANGE
02
93
8834 e Diamond Match Ca.,100
DAILY; WEEKLY .1,1D YEARLY.
50 duPont(EDdeNemPo 100 143 146
75i
e Preterred
10
8334 8334
e Gold 4 $s 1936_ _ _J-D
75
Raitroad,
Stocks.
100 12
State
75 "7"J" Electric Boat
U. s.
Week ending
7
2 8712
Preferred
100 60 7:1"
B012.13.
Bonds.
21
32
Bonds.
July 22 1910.
Par value.
Shares.
51
15
100
10
Empirc Steel
49
75
100 65
Preferred
838,000
$494,500
Saturday
134,075 $11,747,500
re:egra ph and Telephone
3 General Chemical _ _ _1 Ou
00
135
137,500
1,315,500
Monday
505,906 43,335,600
e Amer Tcleg & Cable_100 7114 75
100 103 105
e Preferred
156,000
809,500
Tuesday
226,966 19,784,100
e Central & So Amer__100
Goldfield Consol Mines-10 *838 812
97,0%
118
910,000
Wednesday
302,124 27,502,400
Comni'l (In Tel (N Y1_ 25 105" 120 Gold Hill Copper..
1
*1), 1118
774,000
290,500
Thursday
524,991) 46,309,900
*634 7
20
$3.000 limp & Bay State Tel_100 65
Ureene-Cananea
171,000
1,070,500
Friday
718,545 67,094,500
Franklin
Guggenheim Explorn 100 170 185
100 40
50
0890,000
$3,000 e Gold & Stock Te1eg_100 105 115 e tlackensack Water Co
2,442,615 $215,834,000 $5,371,000
Total
e Northwestern Teleg_ 50 103 115 1
Het g 4s '52 op '12 J-J
85
Pacific & Atlantic
.
75 'Hall Signal Co com 100 38 -47
25 60
Jan. 1 to July 22.
Week maw July 22.
Sales at
ePac Telep & Teter, pt.100
_
HavanaTobacco Co_101)
412 512
New Fork Stock
Southern & Atlantic_ 25 -jij- 100_Preferred
12
9
100
190.3
1910.
1909.
1910.
Krchany.
62
1st g 55 June 1 '22 J-D 1 58
Ferry Companies
iicelter-Jones-Jewell Mil,
3,657,900
106,891,000
107,982,244 B & N Y 1st
2,442,015
Stocks-No. shares ___
65
1st
Os
1922
98
103
105
1911_J-J
S
91
NI
3215,834,000 1341,656,500 $9,611,901,100 $9,899,561,600 N Y & E It Ferry
Par value
90
28
lierg-Hall-Mar. new_100 30
stk_100 20
810,200
$69,000
$10,400
$692,300
Bank shares, par.....
1st Is 1922
50
60
Hoboken Land & Imp 100
51-N
Bonds.
N Y &Hob 5s May '40..J-D
e
5s
1910
96
94
$3,000
$234,700
$27,000
$250,500
Government bonds
Hob Fy 1st 5s 1946 M-N 102 ....... Houston Oli
MI.0
*1114 115
9-11-92.
-3..
--.
:
i
:
:
890,000
23,864,700 NY &NJ 5s
773,000
29,773,700
State bonds
Preferred
1946___J-3 95 -- -100
772,467,100 10th & 23d Sts
5,371,000 21,134,900
KR.and nits°. bonds
362,141,000
Hudson Realty
Ferry_100 35
10() 1-1-ii- -.
45
1st mtgo 53 1919__J-D 60
Ingersoll-Hand
0
9
9
e
3
7
com_1
10
00
70
$0,264,000 $21,934,900
$706,560,500 e Union Ferry stock-_100 29
Total bonds
$392,165,200
31
0 Preferred
---e 1st Is 1920
97
Intercontin't'l Itubber.100 2012 2112
5I-N 94
DAILY TRANSACTION3 Al: THE BOSTON AND PHILADELPHIA
Diternat'l Barik'g Co_100 110
EXCHANGES.
Short-Term Notes
Internat'l Mer Mar-See S tk Ex 1st
Am Clg ser A 43 '1I M S 009912 International Niche
100 135 137 ,
Ser 13 4s Mch 15'12 M-S 9712 us
PlEnaffilphia.
Boston.
Preferred
100
1;0
92
Bait & Ohio Ms 191:-J-D 9812 9834
Week ending
1st g 5s 1932
Bethleh Steel 65 '14-M-N
July 22 1010.
Listed Unlisted
Bond
Unlisted
95
9612 International Sa.it
Bond
Listed
A10
°
0 96
1
98
3'
&
Alton
Chic
5s
'13M-S
shares. shares.
sales.
shares.
1st g Is 1951
shares.
sales.
9838 99
CM Ham & D 4s 1913_J-J
5
70
5
9634 9714 International Shver_A
40
7
0?) r 5
1$2,000 0 C C & St L 5s, June '11 10018 10034
Saturday
Preferred
4,922
4,336
2,539
$8,020
5,100
105 110
J1-0
00 110
38,800 riudson CompaniesMonday
1st (is 1948
11,152
6,753
10,856
21,040
16,135
Os Oct 15 1911
A-0 9712 100 Internal Smelt & Itefg 100 120 ;46"
12,700
Tuesday
10,147
6,827
9,323
22,000
7,276
6s Feb 1 1913 _____F-A 9812 100 Interns t Time itecord_100.. 150 ,
17,800
Wednesday
22,000
12,255
24,494
19,910
8,395
15,000 Interb it T g 6s 1911 M-N 10034 10114
Thursday
Preferred
100 lar 105 ;
8,713
11,000
10,117
18,317
15,356
41,300 K. C Ity&Light 6s '12-M-S 9758 9812 Jones & Laughlin Steel Co
14,151
12,006
Friday
16,667 , 12,048
15,000
1st S t g Is 1939__M-N 10138 10112
-- Minn & St L g Os 'll_F-A 97
9834
eN
YO
Lines
Eq
5s'10-22
14.80 4.40 3Lackawanna Steel
50,081
54,439 $127,600
80,241
Total
77,010
100
S09,060
40
43$s Jan 1911-1925-- 5434% 4.35
e 1st con Is 1950
M-s
86
N Y N Ii&HOs'10-'12 100 10118 e Deb as 1015
9114
9714
Lanston Monotype
St L & S 10 4Ss'12op_F-A
-li -8
1T0
1 8114
1 0
904
Is Mch 1 1913.--M-S 96
Lawyers' Mtge Co_ _1017 240 .45
97
97
9814 Leh & Willies-B Coal_
South fly g 5s 1913_1z-A
50 250 All bond orices are now "and interest" excedt where marked "L"
Tidewater 6s, 1913. guar 100 10038 e Lorillard (P) pret _ IOU 125 1511Wabash 48s 1913-111-N
45
- --- Madison S'q Garden_100 30
Bid Ask
Street Railways
Bid Ask West Teiep tit T 5s '12..lz-A -9-81-2 99
2d Gs 1919
85
Street Railways
S1-N
Pub
Serv
Corp N J (00n)
New York litiy
Westingh'e El &M 6s 1910 9778 10018 Manhattan Trauslt
2
59
0 ,,*
21
014 112
Cons Tract of N J__100 69
20
Bleeck Si & Fu; stk_100 16
b% notes Oct 1917-A-0
72
Monongahela It Coal__ 50 *71:
93
GU
1st Is 1933
60
J-D 102 103
1st rntge 4s 1950 __J-J
Preferred
New'Ic Paslty Os '30 J-J 106 -- -B'y & 7th Ave stk ___100 115 135
51ortgage Bond Co.....100 110 iir
Railroad
Itattld Tran St fly.. 100 240 ---- eCh10 Gt Wcom tr etts1See StoCI: Exc Nat Bank of Cuba___101) 104 107
20 mtge 5s 1914 ___J-J 9112 101
1st Is 1921
Con 53 1043-See Stock Exc .1st
A-0 104
Nat'l Surety
ePreterred tr ctfs_ f
list
100 250 260
J C Hob & PatersonB'ivay Sur% 1st 5s gu 1924 102 105
Chic Poo & St
e Nevada Cons'd Copper 5 *19
1914
4s g 1949
Cent'l Crosst'n stk __100
M-N
74
Prior lien $4 3$s'30. Al-S / 90
72
Nev-Utah Min & Sm. 10 *918
58
91
So J Gas El & Trac_100 126 132
1st mtge 6s 1922 _M-N -t14/- 7ECon intg g bs 1930__J-J / 53
e New Central Coal
20 40
60
Gu g 5s I953
25
Cen Plc N & E It stk- __100 15
M-S 96
98
NYAir Brake Os-See Stir Esc list
Income Is, July 1930__ /--No Hud Co Ry 8s•14 J-J 103 105 Chicago Subway
OU
Chr't'r & 10th St stk-100 80
2
100
218 N Y Biscuit 6s 1911_M-S 100
Is 1928
J-J 101
Col & 9th Ave Is See Stock Exc list
e New York Dock.._100 25 -4Kansas City Sou 55 Apr 1
0Eat Is 1924___M-N
DryDEB&Beo
rre
&d
98 100
1950-See Stock Each trin/x
100 78
istt N eyPitriettg
83
ec iiis
Pat City con Os '31_J-D 112
1st gold Is 1932 ___J-1) 05 100
Security-100 200 210
Nat Ilys of Mexico-See S
2d
41
Gs
opt
17-A
/35
*41.12
1014
1914_A-0 IOU
Scrip 5s
N Y Transportation_ 20
North'n Securities Stubs_
95 100
Eighth Avenue stock_100 260 300 So Side El (Chic)-See Ch icago list Pitts Bess & L E
35 Niles-Bens-Pond com-100 95 - 108
50 *30
/95 100 Syracuse It 'I' Is '46....M-S 101 103
Scrip Os 1914
issc
inug
ppAelr
inc
es
o.
N lholu
158
14
74 o
50 *63
10
918 10
Preferred
Front
P
&
H
Is
'200
220
100
1943..J-D
stk
420 & (Jr St ry
05 .....- e Railroad Securities C0103 *
United Rys of St 1.
42d St Si & St N Ave _100
111 C stir tr ctfs ser A' 52 85
90 e Ontario Slyer
1,2 212
100
Coils vot tr ctfs
100 1134 1214 Seaboard Company_
1st mtge Gs 1910_M-S
Otis Elevator com
100 48
51
e Preferred
100 63,4 6312
20 income Gs 11115..J-J /45 -Preferred
96
1st preferred
100 94
100
Gen 4s 1934-See Stock Exc list
)1st
Inter-Met-See 5th Each
Corn & 2d pret-See Hal t Ei("; -1-1.---t- Pittsburgh 13rewing_ 50 *231: 2338
Lex Av & PavF 5s See 5th Exc list Unititys San Fran See Sth Exo list Seaboard Air LinePreferred
50 4. 4253
Metropol St Ity-See 5th Exc list Wash Hy & El Co...._..100 30 32
Coil 5s eat May 'll_M-S 991g
Pittsburgh Coat-See Stir INEZ list
Preferred
100 8512 83 West Pac 1st 3s '33 _51-S 9212 9234 Pop
Ninth Avenue stock_100 155 180
6812
013
0 68
cf_h._ -_ _ 10
Coo
.
pr
ee571efrgre
4s 1951
Second Avenue stock_100 14
18
8412
J-D 83
Preferred--------81
Industrial and Miscel
78
1st Si 5s'01.1ext'10-51-N 9912
Adams Hap g 4s 1947 J-D / 92
93 Pratt & Whitney pref_100 z100 110
15-A /50 60
Consol Is 1948
Gas Securit!es
Producers 011
Ahineek Mining
Produce
100 145 150
25
*Sixth Avenue stock_100 115 130
Realty Assoc (Bkiyn) _100 113 116
Alliance Realty
100
Sou Boulev Is 1945....-J-J 60
New York
85
American 1300k
100 *11254
12
9
5
0 1111652205
_100 190 200
5
3 Royal Bak Powd
92 Cent Un Gas 55 1927 _J-J 09 101
100
So Fer 1st Is 1919_ _A-0 88
American Brass
Preferred
corn0i)
1
104 106
Third Avenue-See-Stock Exc I1st Con Gas (N Y)-Sec 5th Exe list
American Chicle com_100 215 220 Safety Car Heat & Lt_100 124 127
Tarry W P & M 55 1928 /50 80 O Mutual Gas
rM
Dflg
i nc
T nog
100 98 :
se
iongeeca
Preferred
:
100 156 162
1 0_3 S
25
95
YltersStItR5s 1946 A-0 75
Am (Araphophone corn 100
100 275
85 New Amsterdam Gas8.5
28th & 29th Sts Is '96 A-0 /15
Preferred
100 -1-iSouth Iron & S com _100 14
1st consol Is 1948-J-J
18
9712 09
30
Twenty-third St stk 100 100 215 NY & ERGas 1st Os '44 J-J 100 103
Preferred
100 117 126
Amer Hardware
100 38
42
12
Standard Cordage.. _100
Union Ry 1st Os 1942_F-A 100 102
Consol 55 1945
J-J 05
98 Am Malting Os 1914.--J-1) 100 101
Westchest 1st 5s '43 J-J
Amer Press Assoc'n_ _100 95 100
1st Si g 5s '31 re-d_A-0 /-I-t; 21
50
75 N Y & Richmond Gas 100 40
65
Am St Found new-See tie Ex list
NY & 1,VestchesterL'Irt'gAdjust M 5s Apr 1 1931 /3
4
Os 1935
Deb g 5s 1954 guar.J-J 98 101
%) 1..6_
A-0 103 102 Standard Coupler corn 10
6 40
Brooklyn
Deb 4s 1923
Nor Un 1st Is 1927_61-N
F-A 63
Atlan Avenue RRPreferred
95 100
66
American Surety
Con Is g 1931
50 210 220 Standard Milling Co 51
14
1,
1
1
100
A-0 08 102 e Standard Gas com_100 55
0g 740
e Preferred
American Thread Ind 5 *412 5
B 11 & W H 5s 1933....A-0 97 102
100 8734
Preened
45
1st Os 1030
Am Tobacco Co com_100 400 410
111-N 102 106
Brooklyn City Stock_10 148 155
1st 55 1930
82
Amer Typeiders com.100 40
Con Is-See Stir Exch ange list
43 Standard Olt of N J 100 183 587
Other Cities
Bicin ligts 1st Is 1941 A-0 97 100
Preferred
100 97 100 Swift & Co-See Bost Stir Exc list
Am Gas & Eiec com__ 50 *41
13kIn Queens Co & Sub98 100
Deb g Os 1939
,
43
c list
1st 5s-S,e Chlo Stock
o u 1E3x
M-N
Preferred
50 *40
e 1st g 5s '41 op '16_J-3 99 102
142
3 Texas Company
4', Amer Writing Paper_ _100
2
951 9712 Amer Light & Tract,...100 260 270
elst con Is'41 op'10 51-N
100 25
Preferred
27 e Texas & Pacific Coal 100 100 105
Preferred
100 101 103
I3klyn Hap Tran-See Stk Exe list
100 145 155
1st s f g Os '19 op'09 J-J 871: 8812 Title Ins Co of N Y
_
75 13ay State Gas
*S
38 12 A tiGt doWIndSSL!nes_100
50
Tonopah Min (Nevada) 1
Coney 1st & Ilklyn_100
838
512 _
13
u, 4,205
-- Trenton Potteries corn 11100
4
010
Preferred
1st cons g 45 1948_ _J-J -7-8 - 83 Blughlon (N Y) Gas Wks
100 17 -1712
1st it 5s 1038
J-J
Preferred, new
55
80
A-0 85 95
Col tr g Is 1959..__J J 63
Con g 43 1955
75
05
30
Brit( & N 5s 11)31)_J-J 95 100 Brooklyn Un Gas-SeeStit Exc list
Barney & Smith Car_ _100 20
35 Prow Directory
Buffalo City Gas .stk.,_ 100
Underwood Typew pf 100 1
Kings 0 El 4s-See Stock Exc list
10012
4
514
Preferred
100 90 100
1st 5s 1947-See Stock Exc list
100
00 10
40
Union Typewriter com1
5
45
Beth!'m Steel Corp-See S tie Ex list
Nassau Elec prof
100
50 125 130
110
Bliss Company corn
1st preferred
55 1044
A-0 LH" 1766- Con Gas of N J Os '36..J-J 93 90
2d preferred
1st 48 1951-See Stock Exc list Consumers' L li & PowPreferred
50 125 135
9
0: 108
Is 1938
Bond & Mtge Guar_ _100 240 250
92
J-1) 110
W'bg & Flat 1st ex 4 Ss 88
Un!ted Bk Note Corp_ 50 *40
4212
Steinway 1st Os 1922.-J-J Wu 108 Denver Gas & Elec_100 150 155
Preferred
5212
Borden's Cond Milk_100 113 11412
50 *50
Gen g 55 1949 op111-N
Preferred
1
00
U 10
100 103 10412 United Cigar Mfrs
66
91
2
6612
10
88
Elizabeth Gas Lt Co 100 300
108
British Col Copper
Other Ciltes
e Preferred
5 *434 b
Essex & II udson Gas_ 100 134 137
100
Buffalo Street Hy412 478
1734 United Copper
--- Butte Coalition Mining 15 *17
Preferred
100 15
1st consol 5s 1931 F-A 102 104 Gas & El Bergen Co 100 76
25
78 Casein Co of Am com..100
214 234
Deb 6s 1917
Preferred
100 215
A-0 102 105 e Gr Rap 1st 5s '15_F-A
U S Casualty
63
100 00
95 101
Columbus (0) St Ity_100 96 30714 Hudson Co Gas
100 48 "Er
100 132 138 Casualty Co of Amer...100 125 140
U S Envelope com
Preferred
100 ut 1st 105 Indiana Lighting Co_ 100 31
Prelerrcti
Cellulo'd Co
100 112 116
100 123 126
35
Coium Ity con 5s-See Phi
45 1958 op
100 97 102
U S Finishing
4
2
66 Cent Fireworks com _100
F-A 03
Crosst'wn 1st 5s '33 J-1)
Preferred
10212 Indianapolis Gas
Preferred
100 20
100 107 112
50 10
30
18
1st it 55 1952
•Corm Ry & Ltg com..100 71 76
100
1st g as 1919
.J-J luU 105
85 Central Foundry
A-0 75
e Preferred
100 79
Preferred
100
Con g Is 1929.._ .._ _J-3 95 100
81 Jackson Gas 5s g '37_A-0 / 88
9214
1st & ref 4 Ss-See Stit Exc ilst e Laclede Gas
Deb Os 1919 op '01_M-N 7 -31- -40- U S Steel Corporation100 9878 9914
Grand Rapids ity pref.100 85
88
e Preferred ........ _--100 80 100 Chesebrough Mfg Co 100 725 500
Col tr s f Is '51 opt '11 114 115
e Loulsv St 53 1930___J-J 10434 10512 Madison Gas Os 1926_A-0 102 107 City Investing Co
Col tr s f Is '51 not op* 114 115
100 69
72
Lynn & Dos 1st 5s '24 J-D 104 10612 Newark Gas Os 1944 Q-J 127 _ _100 105 115
Preferred
U S Tit Gu & Indem_106 110 120
*New Oct ltys & Lgt_100 2434 25 Newark Consol Gas _I00 9812 9912 e Ciallin (ti B) com_100 90 105 eUtah Copper Co-See 5th Exc fist
Waterbli.y Co com
10
00
0
e Preferred
J-[j 1021: 104
100 6134 6214
e Con g Is 1948
100 90
98
e 1st preferred
Preferred
Gen Si g 4 Ss '35-See S tk Ex ,1st No Hudson L H & Pow100 91) 98
e al preferred
Westchester & Bronx Tit
Pub Serv Corp of N J..100 108 110
A-() 110
Os 1938
Col & Hock Coal&i. p1100
Tr ctfs 2% to 7
100
;
- 170
& Mtge Guar
0perpet 00 100 Pacific Gas & E, coin.100 54 "gE
J-J / -_-:- W.
1st g 5s 1917
North Jersey St Ity_100 60Preferred
Westingh'se Air Brake_50 *136
100 84
Col tr 6s Oct 1950-1-3 / __ - 70
86
1st 43 1948
West El & Mfg 5s-SeeStk Exc list
M-N
45
74 -ii- Pat & Pas Vas & Elec-100 85
90 Consol Car Heating...10u 42
Worthlng Pump prct-100 104 108
^ Con g 5s 1940.......m.s 98 101
Cons Ity Lgt & Refrig_100
St Joseph Gas 5s 1937-J-J
931
: L6 Canso! Rubber TIre_10() --1;- '7'
100
18
Preferred
26
Debenture 48 1951 A-U /34
42
* Per snare. 0 Bait:. 4 S:11s on Stk. Ex.. out not very active
3 Sato price.
,5-1118. 7 Ls-m.13s. ; New stock.
n Nominai.
r tat price
Volume of Business at Stock Exchanges
Outside Securities
Electric Companies
Chic Edison Co-See Chi
Grt West Pow Is '46_J-3
e Kings Co
L&P Co 100
Narragan (Prov) El Co_50
NY &Q Et L &Pow Co 100
Preferred
10t
United Elec of N 3_100
lot g 4s 1049
J-D
Western Power cc:013_100
Preferred
101
1314
cago
93
120
*83
40
BOSTON STOOK EXOBANGE-Stock Record, Daily, Weekly and Yearly
SHARE PRICES-NOT PER CENTUM PRICES
Saturday
July 10.
Monday
July 18.
Tuesday
July 19.
Wednesday
July 20.
Thursday
July 21
Friday
July 22
,Salet
o the
Week
Shares
Range Since Jam. 1
SI OC KS
BOSTON STOCK
EXCHANGE
tame for /12/2ou.) Fedr
11909)
Lazcest
Hzghest
Lauren
Railroads
*9818 9838 *3833 9853 *0834 99
98 Jan
100 Atch Top & Santa Fe_100 5212 J'ne30 12313 Jan 2
0938 9938 9914 0914 9734 973.1
*9934 10034 *9978 10078 *9978 10073 *9934 10024
100 9914 2'12' 8 10414 Jan 7 10034 Jan
Last Sale 10038 July'10Do prof
*222 223 *222 223
222 22212 *222 223
222 223
Boston
223
223
&
Alhany
--49
100 218 J'ne 10 234 Jan 10 225 Jan
124(4 Jan
*12512 126
126 126
12534 126
126
10e 125 Apr 12 13634 Jan
126
245 Boston Elevated
126 126
126 126
*215
*213
Boston & Lowell
2.. *215 ____ *
100 215 MaY13 22/ Feb 24 2'4112 Dee
Last Sale 215 July'10
215
140 1-4-0
152 Feb I 13212 Jan
14014 1-4-014 *140 ___ *140
140
141
140 140
1 01
'
_
! 134 J'ne
---3
. Boston & Maine '
__ 292 292 *____ 292 -0_ _ 2-9-2 - *____ 292 *---- 292
*292
19 Boston & Providence_100 z292 J'ne 20 298 Jan 20 '295 Sep
1134 Jail
-1-5 *
14 J'ne 16 10 Jan 3
July'10_,,Boston Suburban El Cos_
15 *
Last Sale 14
15 *_ 15
*70
74
70 J'ly 21 70 Apr 7
6012 Jan
no prof
70
*70
70
*70
71
74
*70
74
*70
74
62
-___ -......
8 hiely2; 10 Jan 7
10 May
Last Sale 8
Boston is Wore Elee Co AprI210
3612 J'ly 14 43 Jan 3
4()12 Dec
*38
- -5iiit -Si1
8 ;51. :::: ;5i- :::: *37 ____ *37 ____ ---2 Do pref
141 111.100 Chic June Ey & USY_100 141 J'ly 7 150 Jan 19 143 Jan
---- ---- ---- ---- ---- ------ --Era Wcire 1151'4
"July'10 ---- Do prof
100 110 Apr 22 118 Jan 1) 115 Nov
Last Sale 270 Aleh'10_ Connecticut Illver_100 265 Mch 8 270 Mch16 7(37 Jan
59 Fitchburg. pref
1-g1-2 125 125 *125
12612 12434 1-24-3-4 12412 124-3-4
126
12812 Nov
100 12412 J'ly 19 1331, Jan
*107 10712 *107 10712 *107 10713 *107 10712
25 Jan
Last Sale 10714 July'10
Ga By & ElectrIc
100 104 .14m 3 112 Apr Lo
79 Jan
385
Last Sale 86
Do
87
87 *85
pret
*85
87
87
*85
July'10 ---100 85 Apr 8 88 Jan 17
202
Feb
195
Oct
10
Last Sale 201 Ality'10
1faine Central
201 May3.1
100
1114 Jan
15
;1434 ---: ;iii4 IT "1:5- TE" T5T4 -fa; 1434 1434 15
100 1434 J'ne30 20 Apr 14
-Ho Mass Electric Cos
5872 Jan
79 -7-979 *2_ _ _ 79
79
79
prof
*79
79
80
79
80
Do
100 75 J'ly 1 88 Apr 7
82
151
15112 15112 151 15212 15138 15112 15112 15212 15112 153
152
_5_1_2_ N Y N H. & Hartford..100 149 Apr 22 162% Mc014 2)53 Nov
Last Sale 140 Meh'10
Northern N 11
140 Feb
100 13013 Mch 11 r140 Mch
Last Sale 210 June'10
Norwich & Wor pret_100 210 Mayt, 212 Mehl/. 200 Apr
185 May 3 LOU Jan 7 190 Dee
Old Colony
1-8-7-- 3:::: 1gl- 187 187 *___ 188
*igi- :::: Hi25 May 3 35 Jan 3
Last Sale 27
R
Rutland pref
____
213 Apr
___
July'10
Seattle Electric
fog% Last Sale 110 July'10
'IC::: 119-3:
: f663-8
8 *:
:
:
: 1-0-0-38 *::
1000011 102 J'iy 6 116 Jan 1
2014 Men
97t2 Apr
100 Alch
*99
*99 100 *99 100
*99 100
100
*99 100
100 100
100 99 J'ly
20412 Jan 3 217278 Feb
16124 163
15058 16113 15914 161
Union Pa
rc
5o
162 1623.1 15934 16218 16113 162
2,083
el/1c
100 155(8 J'ly
9312 Moll
*9034 9134 *9158 9258 *9012 92/2 *89,8 907 *901,3 9118 90 Do
prof
90
100 00 J'ly 22 1033s Jan 3
Last Sale 163 June'10 ---- Vermont is Mass.__100
162 Apr 22 168 Jan 17 135 Jan
__
---88 Jan
;ST lg.- -ai- 7
,Tf- ---: ---- -grii,1 -iiii, ss ss 83 88
50 87 May 2 952; Mch
44 ‘Vest End S
*99 100 *10018 10012 .
2 *10013 10012 *100 10012 10012 10012
7
Do prof
50 04) .J'iy 6 109 Feb 10 102 Oct
15012 1-0-61Miscellaneous
33(4 Jan
4034 39
40
*38
4012 *39
40
41
*38
*38
_
40
60 Amer Agrlcul Chem 100 33 J'ly 6 487 Jan 10
10012 10134 101 10112 10034 101
94 Jan
101 101
10012 1-0-1 *100 102
Do
prof
11%,
264
1134
it:11.
558 Jan
*412 5
434 434 *412 5
*434 5
*434 5
135 Amer Pneu Service
50
434
434
13 Jan
Do
Feb
prof
1478 1434 1514 1483 1514 1434 15
1438 1434 1,13.i 1434 14
1,760
120 120
fh
118
501
11912 12012 *119 120
1A
e 1 r114 Nov
120 121
119 119
191 Amer Sugar Itefin
120
100
119 119
11812 119
11878 119
118
Do profel...2100
00 115 J'no 6 124 Mch 2 211/ Nov
a Te
118 118 *118 119
118
161
131 J'ne30 143% Feb 21 12514 Feb
13212 13318 132
13213 133
13214 13234 13214 13234 13213 133
13258 4,241 Amer Tele()
*28
29
28
*27
15 American Woolen
28
2712 Feb
2634 2634 *27
*27
___
*27
28
100 26 J'iy 7 3912 Mch 19
9312 Jan
9314 9334 9312 9334 93
9334 9212 93
Do pref
9314 94
9312 -94
906
100 21 J'ly 1 10414 Alch23
*812
412 Apr
1112Jan 7
*812 -___ *812
_
7 hIch IS
813 812
_ *812
200 AU Gulfs W 1 S S L_100
814
814
1514 Apr
1712 *17
1713 *17
pref
1712 -17-12 1712 1/13, *17
Do
100
,1
_
5
510:y
2
1712
334 Apr
*5
*5
6
6
*5
*5
6
g1)
6 2)
5312 ja n 1?
6
____ Boston Land__
Last Sale I-17?) 1278 12:
*__ 141 *139 141 *13914 141 *139 141 313914 141
23 Cumb Telep is Teleg_1(h) 110 J'ly 5 1521,11,10 4, 125 Jan
141
141
1812 Jan
Dominion Iron &
(21134 J'lic 4 71 AMA 1
Last Sale 6334 June'10
. -- -_-_ -__- -___
ee!
7 Jan
8
8
-;ii4 -13- --a- -18
8
'Ho East Boston Land------ -----71_3 Apr 14 1153Jan 3
8
8
8
8
257 257
255 255
25612 25612 255
214 Edison E'ec Ilium__ _100 40 Jail 20 160 J'ly 11 245 Jan
25612 257 *---- 257
25612
' *142 141 *14012 142
14214 1-1414 14238 14212 143 143
16012
133
14034 14034
Jan
94 General Electric
1503
8 Feb
too
59 Jan
SO
80
80
j
F.e731 121
80
80
80
SO
80
8013 SOls
8014 80
1)14 2yi
373 MassachusettsGasCos 100
91
00
89 Jan
90
91
90
pref
9013 9013 9013 9013 0013 90
91
190 Do
100 89 IslaY16 67 61c1i18
*216 218 *216 218 *216 218 *215 216
215 215 *21412 21512
6 Mergenthaler Lino_100 21414 Jail 4 22012 Feb 21. 20212 Mai
*514 512 *5
512 *5
512 *514 512
Last Sale 514 July'10
Mexican 'Telephone
Jhalany130 . I Jan
10
109 109
*109 110
109 109 *10834 110
109 109
24
3j
Ja
10334 109
''
-Ho N E Cotton Yarn.,__,,100 108
1157 22
63 Apr
3 126
134
__ _
10312 10312 *105
105 *____ 105 *____ 101
93 Jan
1)0 pret
15
100 10313 J'ly 10 115 Jan 11
133 133- 3105--13413 135
133 133 - *132 134 *132 134 *132
133
60 N E Telephone
100 122 j11e23 13813 Alch 11 12614 Jan
*____ 95 *____ 93 *-_-- 95
95
Last Sale 95 June 10Pacific Coast Power_100 91 6101122 100 Jan b
75 Feb
156 156
156 156
156 150
156 15612 15613 15612 -;
150 156
2
.8-7 Pullman Co
IOU 153 J'ne30 200 Feb 11 168 Jan
Reece Button-Hole_ 10 1114 Jail 15 1214 Apr 14
*12. *1134 1214 *1134 1214 *1134 1214
Last Sale 12
July'10
034 Jan
-2-10234 103
*10212 1-0-278 103 103
.54 Swift & Co
10234 103
10212 103
1024 103
100 109 Jan 24 10934 Jail 10 100 Jan
*___ _ 3112 *31
31
3112 *31
22 Torrington, Class A
3112 *30
*30
3113 31
31
23 23 Afeh30 3414 Jan 3
2012 May
E
Do
pre
23 '27 Jan 13 31 May 6
30
2414 Jan
*2713 28
*28
30
*2712 2814 *2712 2814 2814 2814 *28
715 United Fruit
15 190 Maylo
186
18Jan
1201, Jan
184 185
186
183 185
185 186
182 18334 1S3 183
100 10512
49
4912 49
4878 4812 4834 5,619 Un Shoe Mach Corp._ 25 4631 J13r
x54 - meh
49
48
4812 4734 4812 48
'
t 7134 Apr
2812 Jan
pref
656 Do
2712 2712 2612 27
27
2612 27
27
27
27
25 2614 J'1Y 0 31 Jan 4
2612 27
7014 7012 69
Feb
7012 6934 7013 69% 7034 6838 70
6653 6918 18,252 U S steel Corp
ioo 1058 J'Iy 22 0034 Jail 3 4134 Feb
*116 11612 11518 11534 1151.1 11618 11534 11618 116 116
6e
ifinina
J'ne2u
6
326 Do pr
107
11434 11434
Jan
11312
12558
100
018 Jan
*15
1612 1512 16
87 West Telep is Teleg_100 14 Feb 14
1612 *
161 *1
18 Jan 6
1534 1534 *15
161
76 Met'
*85 ---_ 86
pref
86
Do
80
86
86
86 - ---- ---- -------100 85 hich2.9 04 Jan 3
40-
iiir,
10478 t,f:ih,,,,.
.1:n1Y.1,5,. 1's
tghesi
125% Oct
106 J'no
23914 Apr
135 Dec
235 Alen
153 Nov
301 Jan
22 Feb
7712 Nov
1412 Arch
1614 Oct
102 J'ne
123 J'13,
275 /deli
130 Feb
103 Dec
28(, Set)
10214 Jail
ii Oct
81 Nov
i 1118 J'ne
149 Aug
215 Sep
201)13 Jan
40 Jun
11712 Aug
10/ Aug
21834 Aug
11114 Aue
175 Apr
9818 Apr
112 Apr
5014 Aug
105 J'ly
9/8 Feb
2212 Nov
130 Apr
131 Apr
145(8 Sep
4018 Aug
108 J'ne
122:Sep
3112 Aug
814 Oct
147,2 Nov
713.1 Dec
1378 J'ne
260 Apr
173 Aug
8314 Dec
97 Apr
22014 Dee
314 Oct
125 Oct
118 Oct
139 Sep
108 Oct
199 Aug
12 Sep
11413 Aug
31 Dee
35 Nov
170 Dec
71 Oct
3114 Sep
9478 Oct
131 Oct
13 Dec
943 Dee
418 Oct
1012 May
4 J'ly 13 10 Feb 1
*412 5
220 Adventure Con
413
5
25
34 Jan
62 Oct
455 Ailouez
34
34
35
36
25 31 J'iy 13 58 Feb 24,
63 Feb
12
5 11_ 4 _an 11
5838 6138 5834 6034 29.301 Amalgamated Copper 100
9613 Nov
23 Alch
4012 Jail 3
4012 Dee
20
514 J'ly
22
2334 _
882 Am Zinc Lead is Sin
25 5
1_0
_
38i8 Feb
Si Dec
Last Sale 36
July'10 1,:iio, Anaconda
25 36 J'ly 13 5334 Jail 2
4 -1512 Ti"
-1.5- -1-3-1- 1312 1414 14
4 -1512 13130 Feb
4 -1254 -1311214 May 1 5034 Jan 3
Arizona Commercial_ 25
5134 Dec
14
5
8 J'iy
18 Jan
*6
7
614
5% 5
'*614 7
*512 -222
*534 7
614
170 Atlantic
* .50 .52 *.50 .52 3.50 .55 3.50 .55
11 .4..6
Last Sale .55 July'10
]1 eg3()
45 Feb .80 May
Bonanza (Dev Co)
3 1':In
"
(
5
) .55
17i2 J'ly
11
1112 1112 1114 111, 1134 1214 12
11
23
4s
15013 Feb1M,eaby 8
4 2414 Jan
litcnh i
24 Dec
12 *11
12
-Oio Bos &CorbCop&SliMg
5
1118 1134 x1112 12
1214 1258 1118 12
8 Sep
14 iv ay 5
1114 Dec
1112 12_
---- -- 3,059 Butte-13a'alclava Cop....10
1738 1738 1612 17
16% 16% 1718 1814 18
18
2138 Feb
919 Butte Coalition
18
3353 Nov
15 1558 J'ne30 2812 Jan 3
18
47
4712 47
4612 47
47
48
51
4912 5013 4913 5012 1,303 Calumet is Arizona.... 10 4434 J'ly 12 103 Jan 3
9614 May 119 Jan
510 510 *510
520 520
611 511
520 525
511
585 Fob 695 Aur
25
515
26 Calumet is Reda
25 57112.
j
:1; A 1
CCoennsteunnelraclur
14
14 3 1312 1412 14 -1-4-- *1414 ---- 1514 16
.
3 Pan
n
*15
29 Feb
16
4112 Sep
*---- .05 *____ .05 3.05 .09 3.05 .07 *.05 .07
.07
Gold,.,,,. 1 ,01 J'ly 6 ,16 Jan 10 .10 J'ne .35 Jan
.07
10605
60
6112 60
5912 60
60
60
5912 60
6112 6912 61
6812 Feb
1,582 Copper Range Con Co 100 58 Feb 17 21 Jan 3
8634 Nov
*612 7
234
613 634
1,1
634 .
712 May
614
6
6
20
0 J'ly 21
--2 612
95855ch28
614 1,045 Daly-West
12 Mch
613 678
7
7
612 678
658 658
634 678
712 Feb
1334 Jan 3
634
678 1,900 East Butte Cop Min._ 10
16% Apr
J'ly
.40 .4
.38 .33
J
.40 .40
.40 .45
36
514 j
.40 .40
:
Y 13
.40
980 Eim River
1 Oct
12 .15
.40
212 Feb lb
212 Jan
011Y
10
1014
912 10
10
1034 10
' 30 2212 Mch 1,
(53
4 1012 2,000 Franklin
912 Joe
134 934
1014
25
19 Aug
13 Feb
658 634
68 MAY 2 1212 Jan 10
678 2,930 (iirouz Consolidated_ 5
738 J'ne
658 034
658 65
68 68
658 Os
1214 Nov
29
29
2912 2913 3014 3012 30
34
3412 3113 3134
10
434 J'ly 16
31
560 Granby Consolidated_100 2
9 11114 Jan 3
90 Feb 11012 Dec
7
7
673 7
634 718
678 678
678 7
2,417 Greene Cananea
7
20
6% J'no10 1178 Jan 3
7
9 Feb
1458 Nov
*1634 1712 15
16
1434 1518 1534 1638 1612 1612 --------1,075 Hancock Consolidated 25
38 Dec
Jan
814 Sep
*2
214
214 214 *2
214
235 Helvetia Copper
218 214
2 J'ne 12 355%
25
n 14
2
712 Aug
218 214 -,(5i4
512 Dee
1012 1012 10
1012 10
10
10
1134 11
2,725 Indiana Mining
28 10 J'iy 18 4434 Mch '
1134 1
1513 15
15
1512 15
1618 1513 1612 1513 1513 2,021 Isle Royale (Connell_ 25 1313
3314 Feb
15
16
3 May :i
2218 Apr
3312 Jan 3
*3
312 *3
312 *3
312
213 May
J'ly
314 314
5734 Deo
615 lieweenaw Copper
314
'5
314
318 33
634 Jail 14
8
818
8
8
778 8
7% 8
712 Apr
7% 778
938 Aug
734 J'iy 22 11 Jan 5
734
5
778 2,077 Kerr Lake
3158 3014 3134 3114 3458 3134 3412 3213 34 20,501 Lake Copper
30
2812 31
16 Jail
25 2812 J'i1 15 0412 Jail 22
7414 Dec
1034 J'iy
034 034
934 034
914 01
19% Dec
: 914 10
918 La Salle Copper
0,4 934
914
914
014 J.IY 23 19 Jan 14
f
*634 714 *634 7
7
7
7
712
7
873 Jan 21
412 Mcia 8
7
414 hich
7
7
1814 May
470 Mass Consol
i *.50 .55 3.50 .55
.50 .50
.50 .50
__ .50
500 Mayflower
.50
.30
1 Dec
17 Jan
.30 .30 3,35 .50
' 3.30 .50 * 35 .50
.50 .50
.50
2Fir
r
3.-? .3(113 1
.50
395 Mexico Cons M is S_. 143 ;11
()
6 Nov
) 411layy11.9
17
17
17
17
1733 1753 1758 1812 1834 1918 31812 1834 1,892 hilaml Copper
1234 Feb
2818 Dec
_ p 17 J'iy 18 20 Jan 4
*312 41, 4
4
4
4
4
412 *4
5
*4
5
400 Allchlgall
1314 Afch
44
44 - 4312 4313 4313 4313 44
44
45
4413
45
500 Mohawk
*43
222 1 257
gc
lyt
3178
2 .J1:1;
11 VS 75
5.13
4J
'
22 43
512 Jail 22
7018 Jan
1734 1734 1734 1814 18
1814 1814 1958 1878 1914 19
19
2,321 Nevada Consolidated.. 5 1758 J'ly 5 2712 Jail 11
1612 Feb
30 Nov
312 313
378 378
372 378
378
414
4
414
685 New Arcadian Copper_25
312 Nov
312 J'ly 13 10 Jan 12
838 Dee
1358 1058 1034 1078 1078 10% 1034 1078 1034 11
8 1, 31 Nipissing Alines
-i07
44 -1-651/34 Jail 17 12 May25
5
078 Oct
13 Sep
2112 2112 2053 2113 2112 2112 22
2334 2213 2312 2234 2414 9.169 North Butte
47 Dec
15 18 J'ne20 50 Jan L
8514
Jan
7
8
7
7
7
634 7
7
712 8
814
814 1,290 North Lake
65,3 J'ly 13 257 Mch 7
25
412 Mch
1178 Aug
*513 6
512 512 *312 0
*6
7
*512 614
512 J'iy 18 1234 Jail 14
50 Ofibway Mining
534 Nov
25
1412 Dee
Ili__ .50 *
.50R
Last Sale .ii-- July'10
.50
.50 *____
.g;i113 J'ly 112
_ Old Colony
5 t5134
3
1
.4
47014 Jy'
enbe 90 Deo
33
33
*3212
__ 3213 3213 3314 3334 33
3312 *3212 33
Jail
59 Aug
-2 117 118 *113 12-0 *114 ____ 117 120
119 122
118
A1111111"
119
Os
ic
d e121°
1:3
14
6°
4O
25 117 J'ly 16 160 Jan 3 122 Feb 170 Dec
/ *12
13
*12
*12
13
1212 1212 *1213 13
13 *12
yt (Silver is Cop) 10
12 J'iy 1 2134 Jan 3
19 Dec
3614 J'no
- *68
70
*68
72
70
71
70
72
70
*63 -70
70
, 92 Mch 0
113 j
J iinyo3to
25 66
10
45
5 Quincy
83 Dec
99 Jan
1614 161 *16
1612 *1614 1634 17
17
*1634 1714 17
17
445 Ray Consol Copper
10 1514 J'iy 1
;
,
134 134 *112 178
153 158
158 153 *158 17
*158
178
215 Santa Fe (Gold & Cop) 10
2R'
J
"
I a'
ilh 3
112 No
278 Jan
012 1,928 Shannon
9,2 934
91
933 1-'31;
9
914 12's
912 031
938 '
.
834 J'ly 4, 18 Jan 3
10
1312 Feb
1773 Jan
[
:t 5214 31,4 *114 132
112
114 1% *114 112
113 112
112
J:in;3
10
0 0
570 South Utah M 5 5
214,
341 Jan 11)19
114 J
,5
5 3(5
37
37
36
3812 3934
39% 38
Supetior
88
880
19
34 Jan
07 Deo
•
7i-21 7 4
8
7'2 710
8
8
753 734
8
490 Superior is Boston Min 10
18 Jan 12
734
812
738 J'iy 11
1318 Nov
1813 May
97
1018 101
234 934 10
1012 1012 1012 1038 1012 1,697 Superior&PItts Copp_ 10
98
1653 Jail 10
9 J'iy .5
1278 Apr
1812 J'iy
4 *47
43
4714 60
Tamarack
51
6213
50
61
51
60
51
51
120
25 4512 J'ne 22 78 Jail 2
62
J'ly
90
Feb
,
*434 514
434 5 ' 5
5
5
5
5
5
6
Trinity
813,3 Jail 3
25
434 J'iy 18
914 Dee
17% Jan
34
5
5313 3312 *33
90
3200uoited
3413 *3312 3412 34
34
34
512
1 *V
StatesCoalh011 23 33 Aleh:41
4034 Feb 15
28 Jan
3912 Nov
4 31
35
3334 3412 3312 3512 3513 1161:2 8512 3512 5,322 U S Smelt lief is Min_ 50 3312 J'ly 20 25 412n. 2
3'J Feb
59 Sep
4
47
47
4634 47
47
47
46
47
4612 4634 2,888
prof
4634 47
Do
50 46 J'ly 20 5313Jan 2
44 Jan
66434
t
3234 218
234 3
2 13-16 2 13-16 278 *212 278
212
212 1,230 Utaii-Apez Mining_ 5
212 J1Y 22
614 Jail a
Jan
' *20
2012 20
20
*20
21
2012 2012 2138 213
21
2118
477 Utah Consolidated__ 5 1812 xne30 46 Jan 3
3114 Feb:
46
0 Nov
44
44
4338 4338
4212 44
130 Utah Copper Co
11 22934 J'no 30 1912 Jan 2
3934 Feb
66 4 Nov
-11'ir2 --3- --g8 --3-- -;i'D.
4 --3-3
3
*212 3
212
234
705 Victoria
1,
3 OctDec
li
*5
512
512 6
365 Winona
25
-,
12
3 15
534 Jan 11
5
212 r
J;
1,1 2
434 Apr (1314 Dec
102 102 *102 112
' 4'105 2 _ 103 105 *102 102
10234 102
oylaynedrionte
8
8
5
t
W
v
25
12
150
112
fly
Jan
3
139 itch 153 Aug
1
1%
"I
133 May 5
234 Jan 11.
2 Oct
4 Jan
' 12BefOrg Part of assesets called In 1909. • iild and asked prices, d New stock. e Aset paid. b
Ez-stock illy. 8 Es righta. a Ez-div. and rights.
412 412
31
3112
6838 5858
22
22
4
4
412 412
32 *33
32
5612 5834 5818 -i1114
2112 2112 21
21
*412
__
35
35
5918 6118
2214 2314
ig
3972 3934
n
u
ci, y
. .,,J, 13.1 *11, 1.2
112 1 1, 1., 1.2 *114
Boston Bond Record
JULY 23 1910.1
I 1
130Nlis
BOSTON STOCK EXCIPGE
WEEK ENDINC, JULY 22
21,1
tial
Price
Friday
July 22
•
Range
Week's
Since
Range or s;,P.1
Last Sale •gq-'1.7anuary I
BON Ds_
BOSTON STOCK EXCII'GE
WEEK ENDINo JULY 22
207
ft
t.
g
Price
Friday
July 22
Week's
Range or ,E
Last sale
I
Range
Since
January 1
But
high'-Vo Low high
A SIC Low
h, Ne,1Low Birth
1
;Ma
Ask bow
Illinois Steel sleben 5s
191., A-0 100 10014.11)0
100 1 3 100 101.
/
4 103
/
2 11.10),' 12; 1001
Am Avricul Chem 1st 58..1928 A-0 100% Sale 1001
;
117 Apr 08%
89% 12 891
891., gals 891
/
2
/
2 931
/
4 Ia Falls &sioux 01st '73 1.917 A-0
Ain '1 dam & Tei coil tr 48.1029 3.3
Kan C Clin & Sur 1s1 5s. 1025 2-0
"3765l1t1'10:.... 13 te 07
100
110118 lots
Convertible 48.
1936 M-8 99 100 100
Kan
C
Ft
S&
Gulf ext 5s. 1911 -1)
99% b'eli'101....11 11934 91134
871
/
4 11 571
/
4 871
/
4
871
/
4
Am Writ Paver 1st t6s g 1919 J - J
Ran C Ft Scott & B 6s
1928 M-N ......113 3'110'10c...1113 118
100
3' 93 100
9/
98 102
Am Zino l & S deb 6s....1915 M-N
1934 M-S
1.3
931
/
2
93
1031
/
2 93
152 1671
152 Ifeb'10
/
2 Kan CM & 11 gen 4s
Ariz Corn Cop 1st cony 6s 1918 M.S
Assented income 5s
92
41 91
1934 M.S
92
1
2Ply'10
93
112
112
0814 101%
Awn Tou & S Fe gen g 48..1995 A.0; 9814 1104 us/
102 103
/
2.Ply'10 • 881
/
2 941
/
2 Kan C & M Ity & 13r 1st 5s19213 A-0' 101 104 103 Mar'10
881
91
Adjustment g
19115I Nov 80
113% Nov'06,
94% Alitel0
04
94% Maine Cent cons 181 78. .1912 A-0,
91
Stamped
Ply 11195 la-N, 89
Cons lot 4is
1012 A-0,
10114 Sep '05!
119 Dec'09..
191.5 J
50-year cony 4s
115 Pne'08'
1171
/
2 Feb'10 -.1 1171
/
2 11714 Mara Hough & Ont ist 68 1025 A-0,
1917 J-D 104
10-year cony 5s
Mass Gam 41
/
2s
01 I 11! 1171
1929 J •;3 I
0714
65
/
4 9934
65
8 641
/
2 73
65
Atl Gull & W I SS Lines 58.'59 J -J
Al lett Teleplst Cs
09 1-6
19171J- J
99% Apr'101....1 119
110 FelPO4 . 1
Boston Elect 1, consol 5s.1924 M.S
Minne
Geu
Rice con g 5s 1920'.1.3
1021
/
2Aog104
1001
/
4
blar'01
3
19161J
-J
Boston & Lowell 48
Eng
Cot
New
Yarn 5s. .1020 F-A NUN
11004 105
1004 100%
1944!j-j
10414 Oct '08...'
Boston it Maine 414s
New Eng Teleph ;11.•
1915 A-0
'
102 Feb'011
......
1121
/
2Jan '03;
/
28 1047j F-A
Boston Terminal 1st 31
58.
1916 A-0
/
2sop'08
1001
103 FulP101
' 103 103
PJ18 J -J
Bur & alo lily eons Us
New England eons g 6s. .1045 J -J
'
10171A•
1100
Butte & Boston 1st 6s
Roston Tenn 1st 48
1939'A-0
..... o .
100 1
Butte Elec& Pow 1st03 1115113-D
New River (The) cony 58 1034 J -J
77 Apr'10 .1 77
791
/
2
/
211.4
1 1131
Cedar Rap & Me It lst 78 1916 M-N
'113/
1
2 MaY'10
NINit & con nob 31
/
2819501 J
081
/
2 May'l0 ....•1 9812 102
88
85% 871 85 J'ly'10 ....' 85
Cent. V ennt 1st g4s..Mayl92O;
Com'deb 65 (ctts)
1948' J -J 131 134 13178Mar'10 .....;134 136
1
1;103 ()et '071
O B & ul Iowa Div 1st 68.19191A-0
;.
1924'F -A
101 Apr'09
1911J.1A.0
1 11814 981
/
2 01.1 Colony gold 43
Iowa Div 1st 48
9814 J'ne'10'
9878 Sep '09 .1 i .
Debenture 58
1913 M
/
2101% Oreg Ity & N av con g 4s 1046' J.D
101% Mar'101 )1011
19221F-A
116% Feb'10 ....'116% 116%
Deliver Exten 4s
1922'F-A
1 111.11
/
4 Feb'101
991
/
2 9914 Oreg Sit Line 1st g Us
99 Mair'111 ....[1 9/1
99% Pere Marquette deb g 68. 1012 3•
/
2 99
Nebraaka Exteu 48
1927M-N
1 99 .Mar'10'. '
Repub Valley 1st st 6s .19191J -J 1021
105 Peo'08...1'
/
4
11121;M•S
99 Oct '011
Bite Wsf 48
/
28 1041'J J
;1
1071
/
2 Nov'05
/
28
86% 88% Rutland 1st con gen 41
Illinois Div 31
1040 -J
80% May'10
Rutland-Cauadian
1st
4311149;
J
-J
102 Mat'02
/
2 10 10014101%
Ohio J Ry & Stk Yoe 58 11/16,1 J •J 1001
/
4 1ale 10014 1001
/
2
/
2 781
781
/
2Apr'10 ....0 781
9276 Savannah Elec 1st cons 58.19521J.J
.' 91
Coll trust rettinsliug g 481940,1A 91' Apr'110
10301 F-A 103 194 10312 Mar'10 ....'103/
1
2 104,
4
' 1151
/
21151
/
2 Seattle Elec 1st g Cs
11512Jan'10
Oh Mil & St P Dub D 68 192111J -J
Shannon-Avis
1st
g
68
1.911);M.N
96 May'10 .... ; 00 110
......
.
126 FeD'05
Ch B & tit I' Wle V div 66102011 • J
.'
97 Apr'07
91) 1001
/
2 Terre Haute Elect g Cs...J.3291J 4
Chic & No Mien 1st gu 58.1931 M-N' 97 100 1 99 May'10
Torrington 1St g Cs
11118'M-S
100% Marl° ....1;100•14 10034
[100 J'ly'10 .1100 104
Chic & W Mich gen 58
19211J •D 100
Union Pao RR eh I gr g 48 11171J -J
1
9976 Apr'10 ....II 99% 10U%
.....
Concord & Mont cons 45 192()IJ
1 91 Dec'07
20-year cony 4s
19271J-j
108% Apr'10 ....1108% 105%
Conn & Pass It 1st g 4s 111431A-0
1121
/
4 Jan'03. 1
Unitea Fruit gen s f 41
/
28 1923 J.J
0576 06
2! 95% 136%
90
.1
96
Cudahy Pack(The)1st g 581924 M-N
119 100 110014 Aug'09
U Li Coal & Oil 1st f 68 1938 M-N 134 141 155 Mar'10 ....; 153 160
SP) Aur'10
90
99
Current Silver 1st 58
i5
A•0
US Steel Corp 10-60 yr 58 1903 -41-N
/
2
/
21051
103 Ply'10.....; 1011
90
89 Atwell.). 1 89
Dot Or Rap & W 1st 48_19* A-0
11814 J'ly'10,....', 117
9814
1
2Pne'10
Dominion Coal let s 1 5s 11140M-N 98
1131
/
2 116/
961
/
2 9834 West End Street lty 48.-1015'F-A
/
2s
1914'M-S
Gold 41
1014 Pue'09'....'......
......
[1031
/
4 Apt'05
Fitchburg 4s
19151 M-8
1910 M-N
Golu deuenture 4s
981
/
2Apr'101.....' 98149914
1 96 Apr'08
48
19271 1111017; F-A
Uold 4s
99
93 Apr'101.... 98
1133 Mar'011
Fremt Elk & Mo V 1ist6s 1933'A-0
Western Teleph & Tel 68 1932' J•J
/
2 99
951
/
2 12 1141
951
/
21 95
95
1140 Apr'05
Unstampou let Os
11/33A-0,
3
4
4819491J
J
Wisconsin
9411
Cent
1st
gen
111%
943
4
Jan'10
....'
1
95
95
9ri
/
1
2
16'1 941
95% Sale
lat Nor() 13 & Qeoll tr 4a 111211 J •J
/
2
I 904
11434
1:1 941
/
2 ih3la
itegistered48
19211441
_
No price Friday; latest bid and asked. 11 Flat price.
Nam-Buyer pays accrued Interest in addition to the purchase price for all Boston Bonds.
Philadelithia and Baltimore Stock Exchanges-Stock Record, Daily, Weekly, Yearly
'
Share Price*-Not Per Centtitn Prices
Saturday I
July 16
127
Tuesday IWecLneadav
July 29 I July 20
Monday I
July 18
Thursday I
July 21 I
Friday
July 22
*59
61
81
*87
1251
/
2126
/
2 1213 126
/
21201
1261412614 126 1.213 I 1261
127
420
21
.19
21
*40
42
42 ,"
431
/
2
"40
•40
43
40
/
4 161
/
4
/
2 141
/
2 141
/
2 141
/
2 141
/
2 141
/
2' 141
141
/
2 141
1104 *
Bales
ACTIVE STOCKSI
of the
Week (For Ronde and Inactive ,
Stocks see below)
I
Shares
Range for Previous
Year(1909)
Range Sines
Jan .1
Lowest
I
highest
I
Baltimore
Con.Gas EL L. & Pow.100 46 Mar21! 60 May23
D
100 80 Marl 11 111) Ply 14
244 Northerni)Central
50 115 Jan n132 beu28
100 22 Feb 8 2714Jan Si
Seaboard(new)
100 43 Jan 25 47 Jan 8
Do 20 prof
/
2Ply IC,
860 United Ry & Electric 50 12%May 11 151
J
Lowest I Big/lest
30 Mat 48 Dec
76 Mar 89 May
/
2 Dee
100 Jan 1211
11% Feb 2814, Deo
224 Feb 48 Dec
1
2Deo
v 114 Feb 14/
Philadelphia
'15 Dec 43 Jan
50 13 J'uel7 28 Jan
20
American Cement
243 American Railways._ 50 1134 ,7'13721 CO Jan 6 4185 J'ly 48 Dec
42
/
2 Jau 10 3278 Fet, 49% Dec
/
2Pne3t) 531
1,261 Cain brut Steel
50 411
43
/
2Jan 14 x1076 Jan 12.6 J'ly
111
/
2 200 Electno Co of America 10 11%.I'ly 1 121
/
2Ply
/
4 Marl 1 43 Jan 631
115 Elea Storage Battery 1u° 92 Pne30 641
49
/
4 Dec
/
4jan 211 15.-2.1an 331
810 Gen Asphalt tr ctfs
1076 J'ne3t 341
2.1
/
2Dec
/
4 J au lt) 53 Jai, 841
100 6514.14y t, 341
Do prof tr ctts
691
/
2 1,215
914J,U 15 Al),
J'ly
13 aan lu
'
81
/
2
76 Keystone Telephone_ 6
/
2Puoiu 281
/
4 Jau 3 14% Jan 3374 May
420 Lake superior Corp.. 100 151
18
*181
/
2
/
21/cc
574 Lehigh C & Nay tr We 50 86 J'ne30 123 Jan 7 96 Jan 1251
014
91
J'ne30 1211
/
4 Marls, 67 Feb 113 Sep
60
711
/
2 16,514 Lehigh Valley
72%
/
4 Feb 75% Sep
50 s338x1y u 6930 Mar 9 031
1,1/611 Pennsylvania RR
64
134
/
2 Feb 51% Dec
/
4 Jan 81 401
123 Plaladelp'aCo(Pitten) 50 42 Pue39 531
43'9
44
1131,
Feu
Si
161
/
4
MarlS,
111
/
4
Feb 141
/
2Due
Philadelphia
25
14% 1 538
14%
Elottricil,
/
2 Apr
50 15 Apr28 2812Jan 31 2476 Jau 361
131
/
4 2 745 Pinks Rapid Transit
*181
/
2
/
4 Sep
1
2 Feb 861
60 69 Ply 22 86 Feb 181 59/
817 Resoling
703;0
708
b1
/
2Jan
May13' a% Juts 71316 Mar
1
653 Touopali
81
/
4
814
1
4 Jan 31 5078 Jan 5876May
'Traction
50 42 Apr28 52./
415 1 071 U
45
60 x80 J'ue30 116 le Jan 101 SI% mu) U5 LA Deo
2 510 United Gas lmpt
82
8134
I Bid I Ask
ISA LT I MORE
Bid I Ask
Bid
PHILADELPHIA
I Bid jAsk
1021
Chas Cityity 1st 58'23.34
/
4
Ph de Read 28 5s'33.A-0
Inactive Stocks
/
2 Chas Ity & Ei6a".111M-3 93
Prices are all "anti
Con M. 7s 1911
3-D 102 11021
Allegheny Val pref....50
Chart Cciz A 20 ?WI() A-U
Ex Imp M 48 g'47 A-0
interest."
AtUal Asbestos Corp 100
101314
Terminal 58 g 1941 Q-F 115 111542 City & St.1.131st 5s. '22 J-D
Alt &EVEleo44,8'33.F.A
100
Preferred
/
2
P W & /3 col tr 48'21 34 994 10019 City& Sub(),Vas)lst 53'41 1011
Am Gas its Mee 53'07.1/-A 811
/
2 82
It
American Milling
Coal & 1 lty 1st 5e.'201f•A
Amity's cony 58 11111.j•1)
Portland By 1st 68 1930.
93
100
Amer Pipe Big
ltocb Ry& Leon 58'54J-J
984 Vol &Grim 1st 68.11116J 4 1116
1Atl City 1st 68 g'19.51-N
Bell Telephoue(Pa) 100
Couaol Gas 0s...1910 3-11
101
spanish-Ank Ir 68'27 34
; Borg&Ellrw 1st 6s'21 34
Cambria Iron
60
...19539J.1) 107%
5s
Trac Ind gen 5810.J-J
13ethlo Steel 6s 1998.44'
71.11
/
4 80
Central Coal & Colte.10(
/
2
Ga& Ala 1st con 5s'4.5J -J 102 1021
74
73
Un Itys Tr etts 48'493&J
Clioo& Me 1E4681099 34
Consul Tree of N J...100 72
/
2 104
Ga Car& N lst5s g'29J-J 1031
United Rye Inv 1st ooll tr
Ch Ok & G gen 68'111 J-J 1021
/
2
Easton Con Electric 0.50
Georgia P 1st 63. .'22 J-J 109
al•N
sf 681926
791
/
2 80
Col St Ry 1st con 5s 1932
Ft Wayne &W V
10
It)?
(3aSo& Fla 1st 581045J4
U Traci Pit gen 58'97 J...11
Con Trac of NJ: 1st 68.'33 10214
Germantown Pass
CO
42
/
4 G-B•S Brew 3-4s 195151-S
Welsbaoh s t 58 1030.J-1) 8914 901
E& A 1st 51. 53 1920 21-N
Indianapolis St
100
28 income 5s 1951 .?..1-N
Elec & Poo Tr stk tr ctfs 5034 0014 Wlka-B GA E 002158)55J...7
Indiana Union Tr
100
1t12
Knoxv
Trac
1st
68'28A-0
lia8-141st
g Os 11./28 105%
Insurance Coot N A..10 19% 20
Eq II
1101
/
2
Lakeli El 1st gu5s'42.31-S
Indianapolis By 48.1933
Inter Sin Pow &Chem.60
15
96
MaconRy&LtIst58'6354
30
Keystone Telephone ..50
Interstate 48 1943 b'-A 49% 601
/
2 Ala Cone Coal& Iron 100
8
1191
/
2
58'45
J-J
Memphis
St
1st
Fret
70
Preferred
/
2 1011
100
50 ......
/
2
Lehigh Nav 41
/
28 '14.Q4 1001
MetSt(Wash)lst58'25FA 107 110
Atlanta & Charlotte 100
Keysto1ieWittetiCaae.100
lilts 48 g
1914.Q•le
72
Mt Ver Cot Duck 1st as.
Allan Coaat L (Conn)100 2191
Lou Vail Trait v t c...50
Gen B 41
/
28 g 1924.Q-1?
/
2
15
NptN&OPlat
55'38 M-N
130
Preferred v to
Canton Co
100
60 131
/
2 15
Leh V C let 58 g
Norfolk St 1st 55'44...1-.1
Cons Cot Duck Corp 50
It)
Lit Brothers
16
Leh V ext 48 1st 11.148.3•D
/
251925 A-0
North Cent41
20
Preferred
50
Little Schuylkill
/
4 100½
50 571
/
2 58
.2t1 7s 1910
M-S 1001
Series A Os 1920. ..,14
i1e.5 Schuyl 11..50 601
Georgia Sou &, Fla. .100
Consul (ia 1023
3-1)
/
2 61
Series B Gs 19213.
1st prof
100 (32
N haven Iron & Stee1.6
D 1461
Annuity 68
/
4
Pitt Uu Trio)58 1997.J-J
20. prat
Northern Central
100
50 120
1101
/
2
U6
(len cons 48 21.103.M.N
Pao Val 1st 58 11141 J•J 105
is
G-B-S Brewing
100
1
North Peunsylvania 50 9814 9914 Lou V 'Iran eon 43'353-1)
Say Fla &West 58'34 A.0
Peunsyl lilt receipts
Beads
New Con Gas 5s 1948 J.1)
/
2
Seaboard A L 4s 11/50A-0 8214 321
Pennsytyania Salt
60, 10t31
Prices are aLl"and
Newark Pass con 5s 1030
/
2 109
Scab & Roan 5s 1926.34 103 105
Pennsylvania steel..1001 108% 109
iistereel."
NY Ph& No 1st48'3914
South Bound 1st 68.-A-O
1001
/
4
Preferred
Armee:oath'& Pot bs
..100 105's 1001
/
2
Income 4s 1939...M-N
80
88
/
28'29 M.N
UE1 b&P 1st41
Atl & Cli eat 4145
/
2 43
Phila Co(Pitts) pref...50 421
NoOlUoTrae con5s'11144
Un Ey& El 1st 43'49 M-8 8414 8412
94
Allan C L R1t43.1052M-S
Phil German & Norris-5( 147 148
Penn gen t38 1910
Var
581
/
2
531
/
4
.1.1)
1040
Income
4s
Atl
Coast
L(Ot)ctfs5sJ-D
101
Phila Traction
50 84
841
/
2
C01.1301. 5s 1919
Var
Funding 58 11136. 3-1)
CDs of indebt 48. .J4
Railways General
10
Penn & Ald Steel coo es.
Susquesi Iron & Steel..5
Va Mld 2i1 ser 68'11.51.S
5-20 yr 48 1925
.14
88
Pa sie NY Can Gs '39.A.0
3d series 6s 11.116..M.S 107 WSJ
Ball Cl/ass 1st58'11 31-N
b976
10
Con 4s 1939
A-0
; Tidewater Steel
Proterred
4th ser 3-4.5* 1921.51-8 104
Bait Fundg 55.1910 M.N
1.0
Penn Steel 18[68'17 M.N'
6th series 58 11126.51.8 105
100
Exchange 31
/
28 193034 02
Union '.1.‘1' ot 1110
, People's'Jr tr certs 48'43
Va (State) 38 new '32.3-.1
Baltabi'lstliatul'll A-0 100
United :N J Bit 04 C..100, 241; '245
103
Coln& col tr 58'49 51-S
Funddebt2-381991.34
1
25'53F-A
121
/
4 11216
US
1151
/
2 13SP&O Ist4/
Unit Trac Pitts prel..50
1 Con& col tr68 1951M-N
West N C con (is 11114 3.3
Warwick Iron & Stee1.10
9' 10 1Phil Elec gold trust ctfs 102 1021
/
2 Bail Tratilst 5s..'20 M-N
811.6U
521
/
2
No Bait Div 581942J-1) 109 1111
/ WesVaC&I'Ist0g'11 J-J
76% 76
Ws:44J ersey &
I Trust certifs 48
21 Wil & Weld 5s..1935.J-J 108's
Cent'l Itycon581932 M.N 106
Westmoreland Coal.. 30
911 I P & E gen AI C g'20.A-0
Elec..10t/
EU& Imp 58.1932 M•S 1116
Wilkes Gas
/
4
I Gen AL 48 g1920..A&O 981
/
2paid.
*Bid and asked; no sales on this day. I Ex-rklits. II $15 paid. t $121
$35 paid. a Iteoelpts. b $25 paid. c$30 paid. d$12 La paid.
/
4 paid $ $131
42
42
42
431
/
4 424 431
/
2
/
2 113
11% *111
491
/
2 4944 49.I
24
241
/
4 24
70
71) 701
/
2 70
/
4
81
/
4
81
/
4 81
191
/
4 191
/
4
19
1)1 14 110
VI
*90
/
4 721
/
2 733
721
/
4 731
(13% 64
63% 64
/
2 44
441
/
2
*441
/
2 441
14% 14% 114 14%
/
4 191
101
/
4
*1834 10
'711
/
2 71% 01510 71%
/
2 Wis 87is
*8% 81
/
2 451
/
2
4476 4476 *141
81 14 81%
- -PHILADELPHIA 1
42
431
/
4
*111
/
2
*48
241
/
4
.1814
81
/
2
*191
/
2
42
43
51114
411,2
'23.4
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/
2
/
2 201
/
2 201
/
2 *191
201
/
21 *191
41% 42
42
42
42
431
/
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43
431
/
4
43
*13
1176
11% 11% 11%
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4111
/
2 491
491
/
2 491
/
2 60
241
/
4 '211
/
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23.4
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/
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/
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b
1.10 1.1 91
91
73
72% 731
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/
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14% 141
/
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1434
14% 14%
19
*18% 191
/
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/
4 111
139'78 711
/
4
71.318 70uPi 71%
8310 81
/
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/
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/
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84 881
44% 45
15
*441
/
2 1514
82
82
82 I 82
82
- Ask I
PHILADELPHIA
*19
42
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/
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/
4
isAvrtmottE
inactiv.?stocks
THE CHRONICLE
208
[VoL.Lxxxxi.
luaestment and Aailtaatt luttiligtuct.
RAILROAD GROSS EARNINGS.
The following table shows the gross earnings of every STEAM railroad from which regular weekly or monthly return3
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 3. to and including such latest week or month. We add a supplementary
statement to show the fiscal year totals of those roads whose fiscal year does not begin with July, but covers some other
period The returns of the electric railways are brought together separately on a subsequent page.
Latest Gross Earnings.
ROADS.
Week or
Month.
Current
Year.
Previous
Year.
July 1 to Latest Date.
Curren:
Year.
Previ0U3
Year.
Ala N 0 63 Tex Pac
283,159 235 856 3,502,904 3,094,611
N 0 do Nor East June
140,462 107,468 1.704,919 1,559,559
Ala & Vicksburg_ June
119,601 103.082 1,452,857 1,398,397
Vicks Shreve 63 P June
4,339
79,339
8.911
Ala Tenn & North_ May
57,688
9,091,484 8,050,275 98,534,165 88,183,215
Atch Top & S Fe...._ May
41,246
89,494
45,806
Atlanta Birm do ALI 2d wit July
82,492
2,416,892 2.152,534 27,615,290 24,111,047
Atlantic Coast Line May
8,088,755 6,755,984 88,901,252 76.412,858
gBaltimore & Ohio_ June
231,080 200,762 2,763,501 2,654,734
Bangor & Aroostook May
5,060
8,004
75,407
Bellefonte Central.._ June
66,411
3,610,825 3,339,937 39,692,974 36.079,826
Boston & Maine__ May
3,646
48,985
4,390
Bridgeton & Saco R May
43.910
366,868
Buff Roch do Pitts__ 2d wk July 201,225 185,316
370,632
104,213 110,571 1,819,719 1,908,481
Buffalo & Susq____ April
580,700
Canadian Northern_ 2d wk July 291,900 191,300
370,500
Canadian Pacific.._ 2d wk July 1,928,000 1,621,000 3,900,000 3,232,000
454,600
Central of Georgia__ 2d wk July 235,400 189,700
381,900
2,409,530 2,000,890 :5,724,463 23,415,034
Central of N w Jers May
326,269 293,526 3.470,425 3,202,035
Central Vermont___ May
1,289
1,846
3,567
Chattanooga South. 2d wk July
2,632
Chesapeake & Ohio_ 2d wk July 567,369 539,392 1,045,838
979,490
497,332
Chicago & Alton___ 2d wk July 261,761 262,796
517,825
6,139,750
3,817,653
Slay
80,709,043
Quincy
Chic Burl &
72,185,863
218,368
p Chic Great West.. 1st wk July 214,366 209,010
209,016
229,101
Chic Ind & Loulsv_ 2d wk July 110,566 104,326
208,535
New
tral.
-See
York
Con
Chia Ind & Southern
5,304,850 4,566,232 59,279,555 54,912,827
Chic Milw & St Paul May
1,397,412
Ch MB & Pug Sd. May
6,077,305 5,274,382 67,598,874 60,306,934
Chic & North West_ May
1,168,593 1,011,354 13,810,686 12,381,012
Chic St PM & Om_ _ May
88.018
949,603
126,448
Chicago Term Trans March
812,144
783,171 651,715 8,615,502 7,254,020
Cln Ham & Dayton May
Clev Gin Chic & St L -See New York Cen tral.
185,165 194,091 2,153,807 2,123,740
Colorado Midland__ May
Colorado & South__ 2d wk July 300,331 280,533
584,018
558,098
222,060
Colum Newb & Lau March
30,941
30,658
221,921
Copper Range
615,500
April
55,068
55,117
025,160
May
186,318
Cornwall
9,539
15,673
95,845
400,092
27,467
Cornwall do Leban_ May
35,356
300,885
May
Cuba Railroad
232,401 193,540 2,333,138 1,960,461
1,730,558 1,721,789 18,322,738 17,362,205
Delaware & Hudson May
May
3,079,224 2,819,060 32,811,824 30,670,483
Del Lack & West
868,300
Deny & Rio Grande 2d wk July 446,100 432,800
863,300
24,789
Denver N W & Pam_ 1st wk July
28,374
24,789
26,374
29,453
Dot Tol & Iront syst 1st wk July
26,280
29,453
26,280
70,522
Ann Arbor
2d wk July
32,412
33,366
71,429
48,160
Detroit 63 Mackinac 2d wk July
22,457
23,196
45,488
Dui & Iron Range_ May
1,760,880 723,874 8,996,184 5,798,886
83,162
Dui Sou Sit & Ad_ 1st wk July
66,250
63,162
66,250
El Paso & Sou West April
874,682 666,289 6,071,891 6,013.350
Erie
May
4,506,138 4,289,265 50,197.299 16,020,293
Fairchild & Nor E._ Slay
23,206
1,779
1,642
18,983
Fonda Johns & Gloy May
825,460
71,396
79,911
704,134
Georgia 3taltroad_ Slay
220,383 159,823 2,814,171 2,571,853
Georgia South & Fla -See Sout hern Rail way.
.
Grand Trunk Syst_ _ 2d wk July 921,045 789,746 1,800,407 1,558,155
Grand Tric West_ 1st wk July 126,193 110,445
126,193
110,445
Det Gr Hay & Mil 1st wit July
39,428
39,428
36,133
38,133
Canada Atlantic_ 1st wk July
41,915
40,319
41,915
40,319
Great Northern Syst June
5,669,430 4,753,751 64,076,802 53,858,463
Gulf & Ship Island_ May
159,843 150,525 1,941,119 1,732,805
Hocking Valicy..
May
655,855 396,278 6,873,335 5,409.396
Illinois Central.._ _ _ June _-- 5,043,210 4,518,688 62,378,177 57,145,512
Internat & Gr Nor_ !cl wk July 143,000 127,000
246,000
280,000
a Interoceanic Mex_ 2d wk July 139,651 159,815
324,633
297,350
Iowa Central
121,849
2d wk July
104,771
33,830
63,251
Kanawha & Mich
243,887 175,835 2,522,357 1,971,719
May
Kansas City South.. Slay
888,920 770,137 8,863,194 8,140,513
K C Mex & Orient_ 1st wk July
35,400
26,400
35,400
26,400
Lehigh Valley
gay
3,180,360 2,830,345 32,915,051 30,211,292
Lexington do East
May
55,825
430,228
36,627
370,260
Long Island
Inc 1,092, 358
May
Inc 116, 390
114,881
Louisiana Fe Arkan_ May
98,581 1,209,021 1,093,989
Loulsv Rend 63 St L May
88,006
85,203 1,080,450
939,522
s Lautsv & Nashv_ _ 2d wk July 059,865 864,395 1,837,305 1,657,665
140,462
Macon & BIrmIng'm June
8,607
10.117
139,512
8,146,916
Slay
745,491 689,899
Maine Central
7,582,410
30,111
ManIstlque
Slay
3,381
3,564
42,835
376,707
33,733
Maryland & Penna.. May
33,894
348,217
a Mexican Internat.. 4th wkJune 233,542 179,952 8,842,231 6,053,284
a Mexican Railway.. 3d wk June 147,900 146,600 7,830,700 6,968,300
Michigan Central
-See New York Cen tral.
11,116
13,582
Mineral Range
11,116
1st wk July
13,582
186,279
Minneap & St Louis 2d wk July 100,470 100,255
182,606
Missouri Nan & Tex June
1,994,061 1,890,871 28,587,256 25,300,915
902,192
Minn St P & S S M1 2d wk July 444,019 398,738
798,038
Chicago Divislonf
811,967
Mississippi Central_ Slay
60.055
74,164
641,165
Mo Pan 63 Iron hlt1
Central Branch_ 2d wk July 928,000 828,000 1,753,000 1,589,000
1,006,508 911,996 10,610,935 10,224,879
Nashv Chatt & St
Slay
2d wk July 1,271,763 913,156 2,414,424 1,980,843
a Nat Rys of Mex
15,730
9,913
7,301
Nevada-Cal-Oregon. 2d wk July
18,9(37
47,828
4,871
446
Nevada Central
March
55,165
64,825 1,354,005
133,991
N 0 Great Northern May
555,342
23,62&
20,214
20,214
N 0 Mobile & Chic_ 1st wit July
23,629
Latest Gross 'famines.
ROADS.
eek or
Month.
Current
Year.
Previous
Ye.u.
July 1 to Latest Date.
Curren;
Year.
lirevigus
Year.
3
8,332,291 7,417,310 .39,174,709 80,494,623
4,037,469 3,472,217 14,385,222 37,830,902
415,140 372,549 5,024,578 4187,800
273,213 234,221 3,482,572 2,597,090
2,354,760 2,104,970 26,419,576 23,301.549
2,321,094 2,130,103 26,932,392 23,760,025
282,087 219,097 3,003,140 2,573,512
98,515
78,567 1,137,473 1,025,210
1,525,159 1,088,087 15,733,286 10,797,640
294,953 261,291 2,929,150 2,031,178
898,878 814,105 10,035,314 8,612,562
20833559 18253117 228257496 197857693
419,594 309,707 3,873,635 3,777,8i
752,985 641,558 7,785,924 7.570,841
5,391,264 1,761,765 55,265,485 49,520,303
280,241 2131,112 3,186,06, 3,019,800
228,264
2,444,977
3,052,689 2,521,60s 12,061,947 28,581,851
1,045,065 982,065 11,812,946 10,048,840
0,539,387 3,451,967 67,750,744 02,313,050
638,623 598,423 7.182,884 5,918,131
4,816.621 3,748,945 48,315,893 37,465,559
13771 933 12032 133 150091 103 129838703
Inc 17,25 0,300
Inc 1,61 7,100
1,322,130 1,147,005 14,096,030 12,973,887
1,714,258 1,547,158 16,586,232 15,408,532
'
,,789,119 2,428,318 33.561,274 27,534,894
146,181
11,409
12,000
128,738
eNYC & Hud Riv Slay
Lake Shore & M S May
n Lake E & West May
Chia Ind & South May
Michigan Central. slay
Cleve C C 63 St L Slay
Peoria & Eastern May
Cincinnati North. May
Pitts & Lake Erie Slay
Rutland
May
N Y Chic ee St L Slay
Tot all lines above Slay
Tol & Ohio Cent.. May
N Y Ont & Western Slay
NYNH& Hartf_ May
N Y Susq & West
Slay
Norfolk Southern_ _ Slay
Norfolk & Western_ Slay
Northern Central.. May
Northern Pacific..
Slay
Pacific Coast Co..
May
Pennsylvania Co
Slay
Penn-B of P & E May
d West of P & E_. Slay
Pere Marquette___ Slay
Phila Ball & Wash_ Slay
Pitts Gin Chic & StL June
Raleigh & Southp't May
Reading Company.
Phlla & Reading_ May
4,025,723 3,235,707 41,488,367 36,877,795
Coal & Iron Co.... May
2,983,331 2,545,783 31,239.235 32,838,555
Totalboth cos_ _ May
7,009,054 5,781,490 72,72.7,602 00,716,350
Rich Fred do Potom May
245,850 227,382 2,101,471 1,832,373
Rio Grande June_
April
722.659
881,019
76,450
81,177
Rio Grande South... 2d, wk July
18,944
23,382
9,725
13,125
Rock Island Lines_ Slay
4,931,411 4,740,911 60,179,709 55,741,416
St Jos & Grand Isl.. Slay
126,098 115,285 1,503,431 1,464,970
St Louis & San Fran May
3,170,249 2,989,684 38,020,133 34,698.825
Chic & East III_ May
779,301 787,822 10,809,617 9,451,491
Evansv & Ter II Slay
200,852 150,893 2,259,233 1,937,310
Total of all lines_ May
1,150,401 3,934,398 51,088,083 46,085,632
Si Louis Southwest_ 2d wk July 196,200 165,537
395,931
350,203
San Ped L A & S L_ Slay
303,209 697,922 5,003,893 13.695,179
Seaboard Air Line_
Atlanta & Birm_ 2d wk July 346,602 305,034
646,050
740,230
Florida W Shore J
Southern Indiana_ May
133,228 102,775 1,272,833 1,090,567
Southern Pacific, Co May
11459 127 9,972,593 123728 194 110124 420
Southern Railway__ 2d wit July 1,049,922 953,138 2,141,705 1,944,472
350,547
Mobile & Ohio_ 2d wk July 182,505 171,072
331,397
Cln N 0 & T P___ 2d wk July 182,660 137,690
325,611
278,310
59,328
75,016
Ala Great South_ 2d wk July
122,712
148,519
37,940
88,85r
43,410
Georgia So 63 Fla_ 2d wk July
75,880
65,737 1,014,276 1,184,481
61,510
Texas Central
Juno
486,038
Texas &
447,513
2d wit July 251,187 230,338
6,678
8,753
75,196
Tidewater & West_ Slay
88,481
15,369
19,009
19,069
Toledo Peer & West 1st wk July
15,309
75,665
70,437
133,596
Toledo St L & West 2d wit July
146,692
77,886
7,112
Tombigbee Valley
7,048
75.151
Slay
7,535,249 0,517,785 82,719,139 71,886,284
Union Pacific, Syst_ May
825,266 708,285 8,900,446 8,064,739
Vandalla
May
Virginia & Sou West June
90,587
80,435 1,190,194 1,136,286
Wabash
987,883
2d wk July 514,384 402,880 1,026,839
647,824 490,380 0,492,180 5,456,251
Western Maryland_ Slay
507,550 449,250 5,417,934 4,927,534
W Jersey & Seash
Slay
Wheeling & L Erie_ Juno
645,190 593,702 6,950,437 5,633,645
White River (Vt)_ Slay
2,924
2,221
Wrightsv do Tenn_ May
17,882
14,989
248,148
287,069
Yazoo & Miss Vail.. June
753.518 883,410 10,388,900 10,035,257
Various Fiscal Years.
Period.
Bellefonte Central
Jan
Delaware & Hudson
Jan
Jan
Manistlque
a Mexican Railway
Jan
e N Y Central & Hudson River.. Jan
Lake Shore & Michigan South Jan
Jan
n Lake Erie 63 Western
Southern.. Jan
Chicago
Jan
Michigan Central
evreiaC&
P
Cleo
InE
Cas
hitcer
agno & St Louis Jan
Jan
Jan
Cincinnati Northern
Jan
Pittsburgh & Lake Erie
Jan
Rutland
,
N
ro
eta
w lYaelrikilC
io
1)63 St Louis Jan
nh
elscaer
Jan
Jan
Northern Central
a Penn-East of Pittsb & Erle_ Jan
Jan
a West of MVO:. & Erie
Phila. Baltimore 63 Washington_ Jan
Plttsb Chi Chicago do St Louis- Jan
Dec
Rio Grande Junction
fan
Texas & Pacific
Jan
%Vest Jersey & Seashore
1.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
to
Curren!
Year.
Previous
Year.
$29,253
$39,274
June 30
May 31 8,021,555 7,751,628
16,336
16.788
May 31
Juno 21 3,988,700 3,523,800
May 31 38,578.707 34,877,862
May 31 19,519,335 16,598,550
May 31 2,147,930 1,782,760
May 31 1,085,943 1,203,905
May 31 11,594,479 10,413,316
May 31 11,782,075 10,335,098
May 31 1,312,668 1,107,560
484,414
May 31
442,598
May 31 0,676,984 4,502,730
May 31 1,106,773 1,109,164
May 31 4,1330,582 3,930,125
May 31 99,608,500 86,306,981
May 31 5,145,292 4,701,192
May 31 50,656,862 57,562,262
May 31 Inc 7,959, 500
May 31 7,430.391 6,944,394
June 30 16,791,691 13,590,100
380.791
AprIl 30
339.019
July 14 7,910,313 7,065,681
May 31 2,050,528 1,861,324
AGGREGATES OF GROSS EARNINGS-Weekly and Monthly.
Weekly Summaries.
Cuen: Year Prep's Year Inc. or Dec.
Monthly Summaries,
Cur'nt Year Prey's Year Inc. or D3C.
3
4
3
12,190,260 10,473,088 +1,717,174 16,39
let week May (45 roads)
Month Sept 1909 (882 roads) _ 246,065,050 219,013,703 +27,052,253 12.35
2d week May (46 roads).._- 12,383,885 10,762.798 +1,621,087 15.06
Month Oct 1909 (881 roads).. 222,005,184 205,455,121 +10,551,063 8.05
3d week May (45 roads)..__. 12,474,881 10,784,585 +1,690,116 15.87
Month Nov 1909 (756 roads). 247,370.954 211,281,504 +36,089,450 17.08
4111 week May (41 roads)..
16,484,237 14.038.471 +2,445,766 17.42
Month Dec 1909 (756 roads) - 260,613,053 232,281,182 +28,351,871 12.21
12,553,149 10,954,872 +1,598,277 14.59
1st week June (44 roads)
Month Jan 1910 (740 roads).. 210,302,219 182,649,825 +27,852,391 15.14
2d week June (42 roads)....... 13,105,719 11,239,007 +1,867,112 18.60
Month Feb 1910 (773 roads) 202,258,490 174,159,723 +28,098.757 18.13
3d week June (42 roads)
Month Mch 1910 (739 roads). 237,533,005 204,910,997 +32,816,008 15.92
_ 13,073,508 11,348,208 +1,725,300 15.15
4th week June (44 roads)__ 17,171.904 14,859,700 +2,312,204 15.29
Month Apr 1910 (690 roads). 221,213.902 194,049,806 +27.104,096 14.00
let week July (45 roads)........ 12,359,231 11,133,094 +1,226,137 11.01
Mouth Slay 1910 (725 roads) 230,033,384 198,019,990 +31,983,394 18.25
2d week July (37 roads).... 12,321.351 10,788,339 +1,555,012 14.44
Month June 1910 (53 roads). 63,572,503 55,215,679 +8,350.824 1514
directly
does
operated. e Includes the New York Fe Ottawa, tile St. Lawrence & Adirondack and the Ottawa &
a Mexican currency. d Covers
N. Y. By,the latter of which, being a Canadian road, does not make returns to the Inter-state Commerce Commission.
Includes Evansville 63
Indiana tl.
Includes the Cleveland Lorain & Wheeling By. In both years. n Includes the Northern Ohio RR.' 7) Includes earnings et MasonCAY
.1 Pt, Dodge and Wise. Sliun. 63 Pacific. $ Includes Louisville & Atlantic from July 1 1009 and the Frauktort & ClacInuati front Nov. 1 1900.
JULY 23 1910.
THE CHRONICLE
-Gross Earnings-- -Net Earnings
Previous
Current
Previous
Current
Year.
Year.
Year.
Year.
$
$
$
S
182,900
Canadian Northern
368,600
720,100
May 1,224,900
July 1 to May 31
11,592,600 8,863,900 3,334,100 2,562,900
Pacifica
May 8,378,114 6,420,640 2,556,264 1,926,860
Increase. Decrease. Canadian
1909.
Second week of July.
1910.
July 1 to May 31
86,181,673 69,763,166 31,122,040 21,067,148
711,129
Central of New Jersey_ b.May 2,409,530 2,000,890 1.024,161
July 1 to May 31
25,724,463 23,415.038 11,677,134 9,957,095
15,688
59,328
75,016
Alabama Great Southern
939,257
Chesapeake & Ohio_b__May 2,549,711 2,393,639
891,833
41,246
4,560
45,806
Atlanta Birm & Atlantic
July 1 to May 31
28,721,609 24,213,125 11,470,304 9,307,614
185,316
15,909
201,225
Buffalo Rochester & Pittsburgh
Chicago Great West_b__May 1,050,073
89,304
799,994
195,382
191,300 100,600
291,900
Canadian Northern
Sept 1 to May 31
9,171,376 8,106,915 2,214,019 1,235,833
1,928,000 1,621,000 307,000
Canadian Pacific
189,700
45,700
235,400
Colorado Midland_a____ Apr
11,284
2,459
167,835
181,282
Central of Georgia
557
1,846
1,289
July 1 to Apr 30
243,160
265,667
1,968,642 1,929,649
Chattanooga Southern
567,369
539,392
27,977
Chesapeake & Ohio
Colorado
&
393,751
306,707
1,144,591
Southern_b_May
1,370,486
261,761
262,796
1,035
Chicago & Alton
July 1 to May 31
15,424,743 13,941,145 5,497.969 4,541,624
110,566
104,326
6,240
Chicago Ind & Louisville
Copper Range-b
13,186
55,066
14,290
55,117
Apr
162,660
137,690
24,970
Cinc New On & Texas Pacific.._
July 1 to Apr 30
265,973
159,898
625,160
615,500
300,331
280,533
19,798
Colorado & Southern
446,100
432,800
13,300
Cuba
Grande
Railroad
Denver & Rio
115,068
88,865
193,540
May
232,401
23,196
22,457
739
July 1 to May 31
Detroit & Mackinac
858,442
996,715
2,333,138 1,960,461
Detroit Toledo & IrontonDelaware
&
728,902
705,854
1,721.789
Hudson_b__May
1,736,558
33,366
32;412
954
Ann Arbor
Jan 1 to May 31
8,021,555 7,751,628 3,120,909 2,888,547
43,410
37,940
5,470
Georgia Southern &
Denver & Rlo Grande_a_May 1,922,198 1.726,852
394,618
664,775
Grand Trunk of Canada
July
1
to
May
31
18,995,804 6,235,314 5,126,508
21,560,651
921,045
789,746 131,299
Grand Trunk Western
Det Grand Haven & Milw_ _
Duluth So Sh & Atl_b_ _May
74,112
69,780
298,112
246,847
Canada Atlantic
July 1 to May 31
675,204
2,999,166 2,449,854
933,548
International & Great Northern
143,000
127,000
16,000
Brie_a
May
1,264,123
4,506,138
1,271,581
4,289,265
20,164
Interoceanic of Mexico
139,651
159,815
July 1 to May 31
50,197,300 46,020,294 14,146,806 12,091,293
9,421
53,830
63,251
Iowa Central
Fonda Johns & Glov_a__May
79.911
36,555
71,396
40,337
959,865
95,470
Louisville & Nashville
864,395
July 1 to May 31
825,480
704,134
215
423,184
348,980
Minneapolis & St Louis
100,470
100,255
45,281
Minneap St Paul & S S M____}
444,019
398,738
May
Georgia RR
220,383
159,623
b
def2,620
31,889
Chicago Division
July 1 to May 31
2,814,171 2,571,853
736,115
475,507
928,000
Missouri Pacific
826,000 102,000
Grand Trunk of Canada182,595
11,523
171,072
Mobile & Ohio
May
Grand Trunk Ry
2,856,149 2,481,429 1,028,778
927,068
913,156 358,607
National Railways of Mexico_ _ _ 1,271,763
30,740,715 27,423,497 7,607,121 7,401,107
July 1 to May 31
2,639
7,304
9,943
Nevada-California-Oregon
__
532,882
13,125
9,725
Grand Trunk Western May
461,345
88,084
130,423
3,400
Rio Grande Southern
196,200
165,537
5,711,645 5,079,999 1,393,715 1.328,974
30,663
July 1 to May 31
St Louis Southwestern
346,602
305,934
40,668
Seaboard Air Line
165,948
14,113
27,739
Det Gr Hay & Milw__May
142,102
1,049,922
953,138
96,784
Southern Railway
1,848,190 1.544,962
408,260
324,662
July 1 to May 31
251,187
230,558
20,629
Texas & Pacific
176,167
May
154,754
Atlantic
18,979
18,979
Canada
5,228
70.437
75,665
Toledo St Louis & Western.._ _ _
1,878,487 1,645,105
299,405
July 1 to May 31
90,235
462,886
514,384
51,498
Wabash
128,754
396,278
245,664
May 655,856
Hocking Valley_b
38,487
12,321,351 10,766,339 1,593,499
6,873,336 5,409,396 2,580,521 1,747,580
Total (37 roads)
July 1 to May 31
1,555,012
Net increase (14.44%)
778,750 1,264,874
May 5,064,166 4,665,394
Illinois Central_a
57,334,967 52,626,824 11,743,752 12,094,589
July 1 to May 31
783,459
256,972
280,997
For the first week of July our final statement covers 45 gInteroceanic of Mexico_May 725,281
7,156,634 6,685,603 2,557,446 2,285,842
roads and shows 11.01% increase in the aggregate over the IowaJuly 1 to May 31
hdef.224
227,301
124,133
253,323
May
Central_a
same week last year.
h438,387
3,094,847 2,771,830 1617,061
July 1 to May 31
299,326
Kansas City Southcrn_b May 888,920
770,137
318,002
First week of July.
1910.
1909.
Increase. Decrease.
8,863,194 8,140,513 3,065,738 3,160,151
July 1 to May 31
May
Inc 116,506
Inc 47,112
Long Island
$
1 $
Inc 363.526
Inc 102,740
Jan 1 to May 31
71,936
Previously reported (35 roads)_ 11,636,795 10,458,868 1,249,863
34,1535
46,181
98,581
114,881
Louisiana & Arkansas..a May
41,246
2,442
43,688
Atlanta Blrm & Atlantic
326,831
446,199
1,209,021 1,093,989
July 1 to May 31
1.3431
378
1,721
Chattanooga Southern
440,098
38,369
478,467
Chesapeake & Ohio
3,539
14,504
88,006
85,205
Lou Hend & St La _ _ __May
1,585
26,374
24,789
Denver Northw & Pacific
277,636
239,901
1,080,450
939,522
July 1 to May 31
26,260
3,193
29,453
Detroit Toledo & Ironton
3,381
def1,162
def3,038
3,564
May
3,088 Manistique b
63,162 - 66,250
Duluth South Shore & Atlantic_
16,788
def4,319
def83
16,336
Jan 1 to May 31
26,400
9,000
35,400
Kansas City Mexico & Orient_ _
13,582,
2,466 g Mexican Internat'l_ _ -May 777,694
612,608
367,212
297,933
11,116
Mineral Range
9,044'
618
8,081.198 6,356,239 3,429,748 2,613,111
8,426
Nevada-California-Oregon _ _
July 1 to May 31
23,629,
2,585
26,214
New Orleans Mobile &
43.235
g Mexico Nor West Ry.a.May 208,820
105,789
128,134
147.226
3
512,181
499,328
Jan 1 to May 31
79,693
12,359,231 11,133,094 1,305,830
Total (45 roads)
4,655
May
•
63,900
def2,525
66,119
Mineral
Range_b
1,226,137
Net Increase (11.01%)
119,897
May
31
82,788
1
to
763,762
755,806
July
k22,570
306,571
k69,054
Minneap & St Louisa _ May 388,322
4,514,865 3,819,221 k1,187,600 k1,029,405
July 1 to May 31
Net Earnings Monthly to Latest Dates.-In our "Railway
401,643
284,829
987,064
St Paul & S S M_a_May 1,196,049
Earnings" Section, which accompanies to-day's issue of the MinnJuly
14,068,812 11,536,673 5,893,340 4,235,562
1 to May 31
"Chronicle" as a special Supplement, we print the May
135,407
231,286
798,061
611,978
Chicago Division_a_ __May
returns of earnings and expenses (or in the absence of the
8,132,663 6,902,392 2,451,827 1,889,987
July 1 to May 31
22,617
30,415
May figures those for the latest previous month) of every Mississippi Central _ b _ __May
74,164
60,055
247,816
331,180
641,165
811,967
July Ito May 31
steam-operating railroad in the United States which is
568,254
1,903,990
397,210
&
Tex_b_May
1,790,523
Kans
Missouri
obliged to make monthly statements to the Inter-State
24,593,195 23,410,044 7,135,193 7,049,546
July 1 to May 31
Commerce Commission at Washington.
640,060
May 4,310,238 3,593,815 1,194609
Missouri Pacific_ b
48,795.125 42,629,010 14,194,012 11.612.035
The Inter-State Commission returns are all on a uniform
July 1 to May 31
basis, both as to revenues and expenditures, and possess g Nat Rys of Mexico_ _ _ _May 4,912,322 4.441,996 2,174.276 1,970,218
47,372,468 44,474,081 18,764,204 17.772.538
July 1 to May 31
special utility by reason of that fact. In a number of
26,670
33,064
41,827
-Oregon _b__May
instances these figures differ from those contained in the Nevada-Cal
204,606
414,040
363,381
2
2131308
July 1 to May 31
25,202
monthly statements given out by the companies themselves, New Orleans Gt Nor-a--May 153,991
64,825
"1,972
555,342
94,504
1,354,065
5 3,436
July 1 to May 31
for publication, and in which the accounts are prepared in
Cent & Hud Riv_b_May 8,332,291 7,417,310 2,2 ,872 2,208,662
accordance with old methods of grouping and classification c N YJan
8,91
.013
9,255,807
34,877,862
38,576,707
1 to May 31
pursued in many instances for years. We bring together
L Shore & Mich So_b_May 4,037,469 3,472,217 1,042,470 1,241,616
19,519,335 16,596,550 5,930,259 5,714,349
Jan 1 to May 31
here (1) all the roads where there is a substantial difference
47,448
40,393
372,549
eL Erie & Western_b_May 415,140
between the two sets of figures, so that those persons who
214,280
460,969
Jan 1 to May 31
2,147,030 1,782,760
for any reason may desire to turn to the company statements
234,22153,008
64,547
Chic Ind & Southern b May
273,213
270,413 .
504,929
Jan! to May 31
1,685,943 1.208,905
will find them readily available. We also give (2) the re647,165
643,293
Michigan Central_ b_ __May 2,354,760 2,184,970
turns of such roads (even where the figures correspond
11,594,479 10,413,316 3.357,807 2,999,307
Jan 1 to May 31
exactly with those in the Inter-State Commerce reports)
568,828
359,334
Cleve Cin Ch & StL_ b _May 2,321,094 2,130,103
which go beyond the requirements of the Commission and
11,782,675 10,335,098 2,751,757 2,457,058
Jan 1 to May 31
53,265
publish their fixed charges in addition to earnings and ex73,005
219,097
282,087
Peoria & Eastern _ b __May
254,978
365,804
1,312.668 1,107,569
Jan 1 to May 31
penses, or (3) which have a fiscal year different from that of
4,150
def2,298
78,567
98,515
_b
__
_May
Cinc
Northern
.
the Inter-State Commerce Commission, in which latter case
71,818
442,596
484.414
Jan 1 to May3188,701
we insert the road so as to show the results for the company's
841,163
608,198
Pittsb & Lake Erie_ b_May 1,525.159 1,088,687
6.676.984 4.502.736 3,534.005 2,133,117
Jan 1 to May 31
own year. We likewise include (4) the few roads which
294,953
261,291
73,047
60,406
May
Rutland_ b
operate entirely within State boundaries, and therefore do
1,196,773 1,109,464
302,833
260,631
Jan 1 to May 31
not report to the Federal Commission, and (5) Mexican and
814,105
282,569
263,958
N Y Chic & St L_b_ _ _May 898,878
4,630,582 3,930,125 1,552,825 1,059,364
Jan 1 to May 31
Canadian companies. We add (6) the roads which have
Total all line above b_May20,833,559 18,253,117 5,719,341 5,752,832
issued their own statements for May, but have not yet
31
99,608,500
May
86,306,981 27,768,902 24,691,122
Jan 1 to
filed any returns for that month with the Commission.
158,722
94,832
309,797
Toledo & Ohio Cent.b.May 419,594
we
(7)
give
the
36
2
Finally
3,777,869 1,293,932 1.239,60
July 1 to May 31
figures for any roads that have
241,487
181,706
752,985
641,556
N Y Ontario & West_a_May
already submitted their June statement.
7,785,924 7,570,841 2,235,952 2,209,060
July 1 to May 31
-Gross Earnings-- -Net Earnings
75,676
230,241
261,112
97,763
N Y Susq & Western_a_May
Current
Previous
Previous
Current
952,859
981
5,
646
76
2
3,186,068 3,019,805
July 1 to May 31
Roads.
Year.
Year.
Year.
Year.
Norfolk & NVestern_ b_ _ _May 3,052,689 2,521,668 1,098,921
991,988
32,061,947 26,581,651 12,938,995 10,476,326
Atch Topeka & S Fe_b_May 9,091,484 8,050,275 52,754,581 53,034,349
July 1 to May 31
July 1 to May 31
96,534,165 86,163,215531,799,715333,533,246 Northern Central_b___May 1,045,065
213,307
167,607
982,065
753.769
875,169
June 8,088,755 6,755,964 2,548,505 2,203,171
Jan 1 to May 31
5,145,202 4,701,192
Balto & Ohio_b
July 1 to June 30
88,901,252 76,412,856 27,567,451 25,248,875 Pacific Coast
117.744
64,986
May 638,623
598,423
865,861
7,182,884 5,918,131 1,396,650
July 1 to May 31
231,980
Bangor & Aroostook_ b_ May
200,762
80,807
50,415
July 1 to May 31
2,763,501 2,654,734 1,127,635
946,787 Pennsylvania Lines directly operatedEast of Pitts & Erie_ _May 13,771,933 12,032,133 3,723,469 3,760,169
8,004
Bellefonte Central_ b___June
880
2,342
5,060
66,666,862 57,562,262 17,144,142 14,308.642
Jan 1 to May 31
39,274
2,338
29,253
Jan 1 to June 30,
6,812
Inc
73,800
Inc 1,617,100
West of Pitts & ErieMay
4,390
1.177
3,664
1,155
Bridgeton & Saco River_May
Inc 1,767,700
Inc 7,959,500
46,985
Jan 1 to May 31
43,910
12,239
13,225
July 1 to May 31
Latest Gross Earnings by Weeks.-In the table which follows we sum up separately the.earnings for the second week
of July. The table covers 37 roads and shows 14.44% increase in the aggregate over the same week last year.
t
1.
209
Roads.
THE CHRONICLE
210
[VoL. Lxxxxi.
••
-GrossEarnings- -Net Earnings
-Int., Rentals, dec.- -Bat, of Net E'ngs.Current
Previous
Current
Current
Previous
Previous
Current
Previous
Year.
Year.
Year.
Year.
Year,
Year,
Roads.
Year.
Year.
$
$
$
$
3
$
$
$
Pitts Cln Chic & St L_a_June 2,789,119 2,428,318
508,502
637,036 Lou Hend & St L
17,543
May
15,725 zdef13,613 xdef1,107
Jan 1 to June 30
16,791,691 13,590,100 3,256,285 3,032,933
July 1 to May 31
183,222
108,439
x99,949
x63,117
Phila Balto & Wash_ ..__May 1,714,258 1,547,158
453,087
463,887 Mineral Range
May
13.327
13,510 xdef13,261 xdef7,434
Jan 1 to May 31
7,430,394 6,944,304 1,577,225 1,530,825.
July 1 to May 31
155,815
159,624 zdef64,338 zdef36,694
Reading Company594,947
Missouri Kans & Texas_May
488,702xdef161,484
x84,315
Phila & Reading_ b__ _May 4,025,723 3,235,707 1,660,791 1,216,659
July 1 to May 31
6,278,530 5,989,272 x1.091,531 z1,167,014
July 1 to May 31
41,488,367 36,877,795 16,312,079 14,817,660 Nevada-Cal-Oregon ____May
3,612
3,754
x10,923
x23,870
Coal & Iron Co_b____May 2.983,331 2,547,783
150,470 def.42,863
July 1 to May 31
40,031
43,214
x184,997 z173,790
July 1 to May 31
31,239,235 32,838,555 1,230,369 1,639,934 New Orleans Gt North'n May
46,620
24,304
x31,541
x27,682
Total both cos- b
May 7,009,054 5,781,490 1,811,261 1,173,796
July 1 to May 31
243,856 z178,226 zdef3,916
508,190
July 1 to May 31
72,727,602 69,716,350 17,542,448 16,457,594 • N Y Ontario & Western_May
140,353
85,001
101,134
96,795
Reading Company__ May
150,397
136,417
July 1 to May 31
1,069,192 1,027,035 1,166,760 1,182,034
July 1 to May 31
1,600,967 1.413,302 Norfolk & Western
462,427
631,474
529,562
May 467,446
Total all companies_ _May
1,961,658 1,310,213
July 1 to May 31
5,132,302 4,910,893 7,806,693 5,565,433
July 1 to May 31
19,143,415 17,870,896 Reading Company
436,761
May 880,000
873,542 1,081,658
Rio Grande June
76,456
n24,253
81,177
Apr
n22,936
July 1 to May 31
9,680,000 9,608.958 9.463,415 8,261,938
Dec 1 to Apr 30
339,019 n116,938 n101,706 Rio Grande Junction__Apr
389,794
8,333
16,020
14,603
8,333
42,494
Rio Grande Southern_ b_May
14,915
48,760
Dec 1 to Apr 30
11,195
41,667
41,667
75,271
60,039
533,250
July 1 to May 31..
490,081
140,807
186,830 Rio Grande Southern___May
20,678
19,941 zdef5,468 zdef8,215
Rock Island Lines_b___May 4,931,411 4,740,911
842,580 1,558,294
July 1 to May 31
217,053
213,547 zdef64,260 xdef13,817
60,179.709 55,741,416 15,748,822 16,687,430 St L Rocky Mt & Pac_ May
July 1 to May 31
32,486
30,609
34,340
6,478
115,285 def23,924
126,098
St Joseph & Grand Isl_b May
6,572
July 1 to May 31
369,506
350,102
53,466
239,672
70,387
July 1 to May 31
1,503,431 1,464,970
435,756 St Louis Southw
May
176,870
170,700 zdef65,196
z59,219
949,455 1,138,602
St Louts & San Fran_ b__May 3,170,249 2,989,684
July 1 to May 31
1,898,266 1,855,961
z629,996
x920,971
38,020,133 34,606,825 11,530,345 11,723,967 Texas
July 1 to May 31
Apr
Central
5,372
3,802
def3,817
def5,959
787,822
779,301
222,265
Chic & East III_b_ __May
277,351
July 1 to Apr 30
57,007
47,627
236,229
189,283
10,809,617 9,451,491 3,433,115 2,991,279 Toledo Peoria & West_ _June
July 1 to May 31
25,565
22,613 zdef.11,180 zdef.2,819
156,893
200,852
77,385
Evansv & T H'te_b__May
60,588
296,600
July 1 to June 30
282,246 zdef.14.678 zdef.51.005
2,259,233 1,937,316
868,503
July 1 to May 31
717,151
INDUSTRIAL COMPANIES.
Total all lines_ b
May 4,150,401 3,934,398 1,249,105 1,476,540
46,085,632
51,088,983
15,831,963 15,432,396
July 1 to May 31
- -Bat. of Net E'ngs.-Int., Rentals, &c.
137,255
182,858
66,826
Pac_a_May
Rocky
St L
Mt &
37,087
Previous
Current
Current
Previous
1,793,247 1,294,094
609,178
July 1 to May 31
403,568
Companies.
Year.
Year.
Year.
Year.
747,885
$
$
61,063
$
May 811,548
St Louis Southw_a
180,433
3
10,119,600 9,546,379 2,317,985 2,054,181 Kings Co El L & P Co_ _June
July 1 to May 31
103,672
87,810
76,522
67,424
Jan 1 to June 30
520,072
610,697
May11,450,127 9,972,593 3,900,034 3,316,120
490,252
440,189
Southern Pacifica
123728194 110124,420 43,593,344 37,555,939 Pittsburgh Coal Co
July 1 to May 31
Jan 1 to June 30
1,298,994 1,230,680
66,206
405,608def265,996
84,949
Apr
1,555
Texas Central _a
def2,157
30
892,502 1,031,060
246,290
Apr
July 1 to
283,856
a These figures are after deducting other income.
May 1,188,363 1,062,934
136,276
Texas & Pacific _ b
155,220
S After allowing for net miscellaneous debt to income.
6,270,394 5,621,513 1,274,842 1,000,816
Jan 1 to May 31
c After allowing for net miscellaneous charges and credits to income.
95,115
85,188
8,385
Toledo Peo & West_b_ _June
17,186
1,172,386 1,094,158
246,742
July 1 to June 30
304,346
d These figures are after allowing for other income and for discount and
May 7,535,249 6,517,785 3,237,724 2,841,631 exchange. The sum of $10,000 is deducted every month from surplus
Union Pacifica
82,719,139 71,886.284 36,828,191 34,733,525 and placed to the credit of the Renewal Fund.
July 1 to May 31
z After allowing for other income received.
90,587
22,639
Virginia & Southw_b_june
80,435
19,456
July 1 to June 30
1,196,194 1,136,286
349,871 ; 362,632
r266,701
Western Maryland_a___May 647,824
496,360
r167,510 ELECTRIC RAILWAY AND TRACTION COMPANIES.
103,317
West Jersey & Seashore_May
507,550
449,250
111,917
132,277
Jan 1 to May 31
2,050,528 1,861,328
153,777
Latest Gross Earnings.
Jan. 1 to latest date.
106,979
Yazoo & Miss Vall_a___May 852,997
705,387
45,042
Name of
9,635,390 9,371,847 1,439,088 1,041,208
July 1 to May 31
Road.
Current Previous Current
Week or
Previous
Year.
Year.
Month.
Year.
Year.
INDUSTRIAL COMPANIES.
--Gross Earnings- -Net Earnings
$
$
$
$
Current
Previous
Previous
Current
American Rys Co..
339,113 319,103 1,844,005 1,695,080
fune
Year.
Year.
Companies.
Year.
Year.
cAur Elgin & Chic By Slay
142,644 133,029
586,920
535,385
$
3
$
$
209,598
Bangor Ry & El Co.. day
42,875 39,936
190,754
52,683
Keystone Telephone_a_June
93,051
48,308 Baton Rouge Elec Co gay
8,193
97,990
8,937
43,141
37,720
July 1 to June 30
567,952
1,126,030 1,073,462
542,453 Binghamton St By.. April
24,972
26,924
106,658
100,881
218,575 184,825 1,070,700
919,567
Kings Co El Lt & P Co_June 352,906
180,194
304,270
155,234 Birm Ry Lt & Power gay
9,524 12,088
39,022
Jan 1 to June 30
42,579
2,107,060 1,840,292 1,109,949
966,261 Brockton& Ply St Ry %lay
18,745
21,576
Cape Breton Elec Co_ gay
102,820
85,941
Pittsburgh Coal Co•
16,003
Carolina
16,313
103,448
Pow
do
Fune
Lt
Co
89,192
Jan 1 to June 30
1,704,602
064,684 Central Penna Trac_ _ rune
73,652 67,257
303,747
358,107
1098,059 997,347 4,150,232 3,780,965
Chicago Railways Co_ April
a Net earnings here given are after deducting taxes.
28,039
30,255
120,317
Painesv
Cleve
&
East
105,658
gay
b Net earnings here given are before deducting taxes.
115,592 103,525
567,768
503,996
c Includes the N. Y. & Ottawa, the St. Lawrence & Adirondack and the Dallas Electric Corp_ day
197,315 4,289,851 3,594,389
Ottawa & N. Y. Ry., the latter of which, being a Canadian road, does not Detroit United By._ _ Ith witJune 237,979
95,340 83,036
Duluth-Superior TrCo rune
511,641
452,491
make returns to the Inter-State Commerce Commission
East Penna Rys Co_ _ April
48,957 44,280
193,551
168,980
e Includes the Northern Ohiq RR.
183,478 171,072
East St Louis 44 Sub_ day
918,799
792,328
g These results are in Mexican currency.
51,148 47,510
Paso Electric
gay ._
264,014
236,490
h For May 1910 additional income is given as showing a deficit of $3,391. El
Vairm & Clarks Tr Co fune
50,993 42,122
269 711
212,293
against a deficit of $6,569 in 1909, and for period from July 1 to May 31 Ft
Wayne & Wabash
was a deficit of $43,610 in 1910, against a deficit of $65,711 last year.
122,344 111,702
Valley Traction Co. gay
598,352
532,673
The company now includes the earnings of the Atch. Top. et Santa Fe Galv-Hous
103,823 103,604
Elec Co_ _ Way
500,047
466,923
By., Gulf Colo. & Santa Fe By., Eastern By. of New Mexico System, Grand
93.207 85,243
By Co day
388,045
430.871
Santa Fe Prescott & Phoenix Ry., Southern Kansas By. of Texas, and HavanaRapids
Ry_ Nk July 17 43,042 36,839 1,149,432 1,079,509
Texas & Gulf By. in both years. For May taxes amounted to $325,832, HonoluluElectric
Rapid Tran
against $272,023 in 1909; after deducting which, net for May 1910 was
& Land Co
April
36,129 33,406
145,263
128,269
$2,428,749, against $2,762,326 last year. For period from July 1 to May 31 Houghton Co
Trac Co day
25,472 35,964
124,243
122,577
taxes were $3,442,551 in 1910, against $2,694,938 in 1909.
Illinois
gay
472,255
Traction
2,101,518
2,365,774
423,616
Co.
_
k For May 1010 additional income was $0,897, against $15,083 in 1009,
39,656
46,721
237,062
Elec Co.. day
195.730
and for period fro i July 1 to May 31 was $126,330 In 1910, against $138,672 Jacksonville
Kansas City By & Lt April
601,477 552,628 2,389,494 2,185,070
last year.
Lake
89,535
100,424
Shore
423,194
gay
Elea
By..
378,851
n These figure represent 30% of gross earnings.
342,829
Nillw
380,060
1,801,208
Lt
El
Co_
Ry
gay
&
1,669,715
r After allowin for miscellaneous receipts and net from coal and other
70,830
361,022
303.012
departments, total net earnings for May 1910 were $297,442, against Milw Lt Ht & Tr Co_ day July 9 85.072
73,818 63,539 2,151,530 1,931,034
Montreal Street By _ Wk
$202,526 In 1909.
157,426 144,461
887,954
Nashville By & Light fune
831,704
523,339 514,807 2,604,160 2,562,954
New Orleans Ry & Lt Way
Interest Charges and Surplus.
207,323 188,749
865,662
North Ohio Trac & Lt gay
775,738
117,766 104,000
556,656
483,348
-Int., Rentals, &c.- -Bal. of Net E'ngs.- North Team Mee Co_ day
184,353 173,635
913,431
864,924
Northwest Elev Co_ _ day
Previous
Current
Cu rrent
Previous
160,492 151,598
765,607
Norf & Portsm Tr Co gay
759,016
Year.
Year.
Roads.
Year.
Year.
37,533 . 227,916
53,861
Oklahoma City Ry_ _ day
149,144
3
19,330 17,698
Bangor & Aroostook_ _.May
x12,573xdef. 10,126 Paducah Tr & Lt Co.. gay
77,506
84,634
21,806 20,172
106,025
Pensacola Electric Co gay
96.609
July 1 to May 31
x351,197
898,333
927,295
x137,668 Port(Ore)fly
478,879 430,743 2,645,613 2,272,779
LecP Co rune
Bellefonte Central
2,106
243
169,190 156,054
June
236 •
637 Puget Sound Elec Co. 1gay
761,476
689,960
5,396
Jan 1 to June 30
1,458
1,416
880 Rio de Janeiro Tram
916,476 646.118 3,428,116 3,010,086
Light & Power_ _
day
635
562
Bridgeton et Saco River_May
593
542
6,916
6,613
July 1 to May 31
6,613
5,323 St Joseph (Mo) Ry Lt
85,401
80,781
Heat & Power Co_ _ rune
494,015
458,605
536,222
492,026
Central of New Jersey_ _May
532,134
174,907
237,608 190,277 1,145.567 1.003,392
Paulo Tr, Lt & P day
July 1 to May 31
5,555,706 5,750,368 6,121,428 4,206,727 Sao
52,379 50,275
Savannah Electric Co gay
246,965
240,418
a578,555
318,112
467,961 457,250
Chesapeake Fe Ohio
May a573,721
360,702 Seattle Electric Co_ day
16,229
July 1 to May 31
a5,700,681 a5,774,896 5,769,623 3,532,718 Sou Wisconsin By Co rune
14,802
85,278
77,104
50,421
47,821
262,488
246,867
Chicago Great Western_May 218,329
282,095
x17,472zdef191,010 Tampa* Electric Co.. day
212,835 1,219,221 1,085,332
Sept 1 to May 31
1,954,622 2,586,034
x384,592xdf1322,371 Toledo Rys & Light_ daywk July 237,986
103,317 147,852 3,738,106 3,391,058
Twin City Rap Tran_ ist
Colorado Midland
31,350 bdef32,946 bdef38,354 Underground El By
Apr
31,447
July 1 to Apr 30
313,500 bdef126,7419 def15.400
313,887
of LondonThree tube lines
Colorado & Southern__.May 259,624
Nk July 16 £12,190 £12,385 £369,260 1364,160
c142,790
252,873
c84,762
July 1 to May 31
Metropolitan Dist _ Nk July 16 £10,703 £10,136 £307,166 1279,067
2,809,906 2,810,243 c2,847,632 c2,069,549
17,338
£6,631 £173,303 £163,200
Ark July 16
United
Tramways_
Copper Range
def 423
12,938
Apr
14,713
248 United RRs of
648,015 620,626 2,494,867 2,337,252
San Fr April
July 1 to Apr 30
122,875
135,334
130,639
37,023 Whatcom
35,404 30,607
169,919
Co By & Lt Way
158,924
34,579
Cuba Railroad
78,401
36,667
May
54,286
July 1 to May 31
364,517
598,172
398,544
493,925
company.
consolidated
c These figures are for
Denver & Rio Grande_.May 465,491
346,638
d317,658
d94,052
July 1 to May 31
4,926,848 3,727,311 d3,323,416 (12,391,713
Electric Railway Net Earnings.-The following table gives
Duluth So Sh & Atl_ _ _ May
92,228 xclef19,839 zdef30,772
97,656
July 1 to May 31
998,403 zdef76,469zdef271,403 the returns of ELECTRIC railway gross and net earnings
1,060,660
60,445 zdef20,873 zdef53,551 reported this week. A full detailed statement, including all
Georgia RR
May
62,228
667,251 z170,262 zdef00.726 roads from which monthly returns can be obtained,
July 1 to May 31
676,379
is given
Hocking Valley
a80,047
196,844
May a48,820
48,707 once a month in these columns, and the latest statement of
July 1 to Mya 31
a381,972 a444,537 2,198,549 1,303,043
the
issue
in
found
this
kind
of
will be
June 25 1910. The
Louisiana & Arkansas. May
21,000
26,666
x29,2'00
x22,731
July 1 to May 31
225,991
x272,691
267,941
z185,119 next will appear in the issue of July 30 1910.
Roads.
--Net Earnings
-Gross Earnings
Current
Previous
Previous
Current
Year.
Year.
Year.
Year.
Roads.
228,522
274,162
238,171
286,209
Amer Light & Trac Co_ _June
1,800,031 1,546,980 1,742,354 1,493,193
Jan 1 to June 30
Brooklyn Rapid Transit Co_a4,866,795 4,468,665 1,383,818 1,017,358
Jan 1 to Mch 31
15,776,241 14,298,979 5,254,306 4,134,178
July 1 to Mch 31
6,628
6,506
16,003
16,313
Carolina Pow & Lt Co_ _June
42,450
31,863
89,192
103,448
Jan 1 to June 30
ConejranIslr &
mB
eixilliclyn _a56,168
81,902
282,518
282,751
to
43,367
37,175
83,036
95,340
Duluth-Superior Tr Co b June
172,742
206,627
452,491
511,641
Jan 1 to June 30
27,064
41,109
81,241
90,948
Lehigh Valley Transit CoJune
Long Island Elect_adef2,588
31,976
def7,101
35,313
Jan 1 to Mch 31
Metropolitan St Ry_a667,444
3,440,880 3,317,241
582,028
Jan 1 to Mch 31
10,987,268 10,535,291 2,425,413 1,094,035
July 1 to Mch 31
167,597
384,564
354,917
185,715
Montreal Street Ry_ b _ _June
3,091,800 2,791,973 1,285,508 1,103,370
Oct 1 to June 30
62,515
144,461
65,851
Nashville By & Light_ _ _June 157,427
338,088
887,954
831,704
371,365
Jan 1 to June 30
N Y & Long 1st Tract Co_a11,626
64,345
60,149
7,964
Jan 1 to Mch 31
N Y & Queens CountY_adef18,928
31
def26,727
NIch
216,427
190,346
Jan 1 to
N Y City Interborough_ adef1,915
def2,372
43,858
34,393
Jan 1 to Mch 31
Richmond Lt & RR _ a2,902
24,291
31
61,753
Mch
63,028
to
Jan 1
Staten Island MIdland_adef1,396
def2,074
42,972
June
30
43,631
1
to
Jan
Third Ave System_ a391,280
566,200
1,871,934 1,638,290
Jan 1 to Mch 31
5,888,147 5,295,453 2,051,779 1,533,705
July 1 to Mch 31
71,407
139,034
85,406
199,685
Tr -City By & Light___June
a Net earnings here given are after deducting taxes.
b Net earnings here given are before deducting taxes.
Interest Charges and Surplus.
-Int., Rentals, ecc.- -Bal. of Net E'ngs.Previous
Previous
Current
Current
Year.
Year.
Year.
Year.
$
$
$
$
Brooklyn Rapid Transit Co1,555,515 1,350,245 zdef78,811zdef242,108
Jan 1 to Mch 31
x913,161
x388,956
4,646,470 4,018,970
July 1 to Mch 31
Coney Island & Brooklyn70,414 zdef16,976
z16,488
73,177
Jan 1 to Mch 31
18,753
19,686
18,417
23,681
Duluth-Superior Tr Co_ _June
89,858
62,242
116,769
110,500
Jan 1 to June 30
Long Island Elect8,359
8,519 zdef15,046 zdef10,333
Jan 1 to Mch 31
Metropolitan St flya682,360
a711,508
31
Mch
zdef42,804 zdef8,164
Jan 1 to
a2,040,054 a2,060,883 x531,981zder848,055
July 1 to Mch 31
59,053
51,134
126,662
_June
116,463
fly.
_
_
Montreal Street
377,603
335,691
907,905
767,679
Oct 1 to June 30
33,637
29,020
32,214
33,486
Nashville By & Light_ _June
202,087
196,213
169,278
141,875
Jan 1 to June 30
Co
N Y & Long Island Tract
15,058
15,690 xdef7,033 zdef4,001
Jan 1 to Mch 31
N Y & Queens County62,888
66,549 zdef90,170 def85,477
Jan 1 to Mch 31
N Y City Interborough20,840
18,120 zdef22,939 zdef19,939
Jan 1 to Mch 31
Richmond Lt & RR24,459
24,196
z1,452 zdef20,169
Jan 1 to Mch 31
Staten Island Midland13,618
13,483 zdef15,692 zdef14,879
Jan 1 to Mch 31
Third Ave Systema224,572 a233,586 x342,920 x158,962
Jan 1 to Mch 31
x885,005
a638,502 a659,182 x1,426,578
July 1 to Mch 31
a Including such charges as have actually been paid.
z After allowing for other Income received.
Roads,
ANNUAL REPORTS.
Annual Reports.-An index to annual reports of steam
railroads, street railways and miscellaneous companies which
have been published during the preceding month will be
given on the last Saturday of each month. This index will
not include reports in the issue of the "Chronicle" in which
it is published. The latest index will be found in the issue
of June 25. The next will appear in that of July 30.
Chicago & Western Indiana Railroad.
(Report for Fiscal Year ending Dec. 31 1909.)
The report, issued under date of June 7 1909, shows:
ADDITIONS DURING YEAR 1909,
Aggregating $4,407,747, against $919,923 in 1908.
1909.
1908.
1908.
1909.
Add'i sidings, &c_ _ _
9,015
4,246
$
Track elevation, 18th
Enlargement of passto 72d streetsterminals
enger
30,300 209,975
Main tracks
Right of way
2,777,452
480,671
72,747
Right ot way
Interest, &c
303,271
Add'I right of way 60,834 246,387
418,970
58,260 Belt Ity. Co.-Acct.
Interest, &c
lease July 1 1902._ 84,503
39,897
C. & Erie RR. Co.
51st St. Yard
98,076 cr.31,940 Chic. & E. III. RR.Wabash RR. Co.
Lease July 11903.
8,824
1,857
47th St. Yard
56,562 122,564 Wabash RR. Co.Leases
C.& E.III. RR.Co.
59,178 145,189
33d St. Yard... 19,034
10,582
1,056
Block signals, &c__ _
40,159
4,407,747 919,923
REVENUE.EXPENSES,ETC.
Revenue1907.
1909.
1908.
1906.
'Rental from lessees_ _ $2,086,319 $1,993,804 $1,924,709 $1,517,140
Other rentals
206,775
64,9451
221,487
Suburban pass. carn'gs_
97,490
98,282
95,013
201,221
Miscellaneous earnings_
12,566
15,388
13,000
6,274
Discount, int. & each
18,910
2,141
3,286
Total
ExpensesInterest charges
*Taxes
Operating expenses._
Miscellaneous
Dividends (6%)
$2,437,998
$2,310,389
$2,108,806
$1,789,691
131,864
118,404
41,641
300,000
$1,710,472
128,397
117,594
30,171
300,000
$1,639,937 $1,232,975
3,9801
137,298
108,534J
26,298
23.,960
300,000
300,000
Total
Balance,surplus
$2,381,600
$56,398
$2,286,635
$23,754
$2,078,749
$30,057
$1,721,647
$1,694,233
$27,414
• Prior to July 1 1907 taxes for terminal lines were charged direct to tenant
liens, whereas they have since been charged against income and the proportions collected from the tenant lines are credited to "Income" under "other
rentals.",
211
THE CHRONICLE
JULY 23 1910.j
BALANCE SHEET DEC. 31.
1909.
1908.
1909.
Liabilities$
Assets$
$
5,000,000
Construction acct_45,092,480 40,684,733 Stock
43,613,667
Equipment
1,665,758 1,666,408 Bonds
Accts. receivable_ 1,172,512 1,137,919 3-year coll. notes
Bills receivable..
called for Pay68,000
Cash, including for
ment Feb.1 1909
1,000
coupons
3,214,243 1,053,808 Vouchers and curMaterial
rent accounts_ _ 790,124
370,160
293,090
Bonds on hand
63,609
501,000 Sinking funds_ __
Bonds held as coll.
Interest accrued.. 755,068
for 3-yr. notes_
10,000,000 Int. accr'd on 3-yr.
coll. notes
19,774
Miscellaneous _
770,784
Bills payable
424,058
Income account
Total
51,438,084 55,482,028
-V. 90, p. 1296, 447.
Total
1908.
5,000,000
39,668,667
8,000,000
1,113,401
59,716
460,853
166,667
16,815
628,250
367,660
51,438,084 55,482,028
Duluth-Superior Traction Co.
(Report for Fiscal Year ending Dec. 31 1909.)
Prest. C. G. Goodrich, Duluth, Jan. 25, wrote in brief:
Territory Served.-The estimated population of Duluth in 1909 was 85,000.
of Superior, 40,000 people. The registered tonnage of vessels arriving and
departing from the Duluth-Superior harbor during 1909 was 35,000,000.
Shipments of iron ore during 1909 were 22,478,639 gross tons; grain receipts, 82,615,472 bushels. The United States Steel Corporation has
within the past few years acquired the site for a steel plant to be located
on the Minnesota side of the St. Louis River, and has expended on toe site
and for preliminary work, &c., about $2,000,000. It is the announced intention of the Steel Corporation to Spend at least $12,500,000 within the
next two or three years for the initial steel plant and the expenditure for
the ultimate plant Is estimated at approximately $25,000,000.
Property.-The total mileage of street railway track, reduced to single
track, in Duluth Dec. 31 1909 was 55.24 miles; and in Superior 22.75 miles;
total, 77.99 miles. The track has been largely rebuilt during the past few
years with modern construction and heavy rail. The total number of cars
in regular use is now 100, of which 64 are new standard 45-foot doubletruck type. Eleven new standard double-track passenger cars were added
during the year. The car houses were equipped during the year with an
automatic sprinkling system for fire protection at a cost of $33,321.
Fares.-The company sells some tickets in books of 100 rides but no reduction is made from the full cash fare of five cents for each ride.
Bridge.-The company's contract for the use of the toll-bridge provides
that 2 34 cents per passenger shall be paid until the tolls amount to $32,500,
after which no more tolls shall be paid for the remainder of that calendar
year. The excess for the year 1909, at 2 cents per passenger, amuonted
to $7,672. When the net earnings of the bridge from all sources reach
$54,500, the payments of this company will be reduced by such an amount
as will reduce the net earnings to $54,500. Provided that the amount to
be paid in tolls in any one year shall never be less than $15,000. The bridge
Is now being used and tolls paid by the Great Northern fly. Co., the Soo
Line (Wisconsin Central), teams and pedestrians, as well as by our cars.
General Results.-The earnings have shown a satisfactory increase. There
was expended in new construction during the year $199,482, as follows: Car
equipment, $70,935; new track, $75,805; feed wire and conduits, $17,066;
building and fixtures, $33,324; miscellaneous, $2,352. There was expended in renewals and charged against renewal funds $64,645. The direct
appropriation to this fund was $48,578; the fund now amounts to $310,513.
On July 20 the directors declared the first dividend on the common stock,
being 1%; and on Dec. 20 a second dividend of 1%, thus putting the common stock on a 4% dividend basis. It is believed that the company will
be able to maintain this rate of dividend.
INCOME ACCOUNT.
1908.
1909.
1908.
1909.
RevenuesTransp'n revenue_ _ _ _$972,509 $884,213 General and miscell__ _$122,999 $123,155
8,425
25,097
Other revenue
Total expenses
$559,811 $551,780
$997,606 $892,638 Net earnings
$437,795 $340,858
Total revenue
ExpensesInterest and taxes- - -J172,366 $159,201
Way and structures $12,571 $45,626 Pref. dividends (4%)_ 60,000 60,000
47,457
48,751 Corn. dividends (2%). 70,000
Equipment
Traffic
910
90
7
7
Balance, surplus__ _T1- 57429 i121765
Conducting tran,sp'n.... 345,873 334,158
BALANCE SHEET DEC. 31 1909.
Liabilities ($8,612,407)Assets ($8,612,407)$3,500,000
Roadway, equipment, &c_-_$8,411,276 Common stock
1,500,000
133,275 Preferred stock
Cash on hand
2,500,000
10,051 First mortgage 5% bonds_
Accounts receivable
118,790
Material and supplies
54,762 Approved vouchers
1,920 Accrued interest and taxes_ _ _
60,040
Prepaid insurance
328,843
1,123 Renewal, &c.,funds
Investment, real estate
2,740
Miscellaneous
601,994
Surplus
-V. 90, p. 1296, 848.
3-
Illinois Traction Co.
(Report for Fiscal Year ending Dec. 311909.)
General Manager H. E. Chubbuck writes in substance:
Construction.-In January 1909 there were under construction the Mississippi River Bridge at St. Louis, the lines of the St. Louts Electric Terminal
fly., the Decatur Belt, the Springfield Belt and later the Edwardsville and
Granite City belts.
The piers in the Mississippi River were finished soon after Jan. 1. The
bridge has been designed to provide a carrying capacity of 5,000 pounds
per lineal foot of track. It will be the heaviest and strongest bridge of any
kind across the Mississippi River, and we may assume that some of the
steam roads which now enter St. Louis will in time desire to operate over it.
One of the three main spans has peen completed,and It is confidently expected that the bridge will be completed for operation next December.
The uptown Broadway station, St. Louis, is well under way and will provide for entrance of trains on the second floor. Negotiations for the purchase of the land for the large downtown terminals are being completed.
The new power plant at Venice, to supply the additional electricalenergy
required for the Increased traffic which will result from the completion of the
bridge and the inauguration of service into the heart of St. Louis, was
designed early in the year. Contracts have been awarded and construction
has progressed rapidly. Thle power plant, located at the cast approach of
the bridge and with an initial installation of 4,000 kilowatts, commands a
strategic position for the operation of the St. Louis terminals, and also for
the sale of power. Contracts for power have been solicited by manufacturing plants for nearly half of the proposed electrical capacity, and there
is every indication that we shall derive a large Income from sale of power.
Applications for switching facilities in St. Louis by well-established manufacturing plants have been numerous,which gives promise of a large measure
of Inter-State traffic between Missouri and Illinois.
A new line, known as the Danville & Southeastern, seven miles in length.
will be opened early in 1910 to serve the Grape Creek coal mining district.
which is tributary to Danville.
Work has progressed upon the belts as fast as possible in view of the delay caused by the Railroad and Warehouse Commission of Illinois, which
controls under the State law the placing of crossings with other railroads.
Interurban Lines.-The changing of the lines between Springfield, Peoria
and Bloomington from alternating to direct current operation was taken
up actively, and in the early summer we were able to operate with direct
current over the entire trackage of the Illinois Traction system without
change of cars or equipment.
This year has seen completed ballasting over portions of the newer track.
Increased and better passenger and freight facilities, the creation of a tierenewal fund, an addition to the freight equipment of 50 new 40-ton coal
cars, 25 new 40-ton box cars, eight passenger trailer cars. Greatly Increased
facilities at the Decatur shops have been completed, and the system Is now
provided with ample means for independently maintaining its equipment.
212
THE CHRONICLE
[VoL. Lxxxxi.
The requirements of the Inter-StataCommerce laws as to safety appliances
BALANCE SHEET DEC. 31.
have led to standardization as rapidly as possible of rolling stock.
1908.
1909.
1909.
1908.
Traffic agreements have been entered into with the Chicago Rock Island
AssctsLiabilities
-$‘
& Pacific By.Co.and the Chicago & Eastern Illinois RR.Co., which should
Capital stock
and invest4,990,000 4,900,000
prove an Increasingly great factor in agumenting the traffic of the system. Property
meta account_ _ __8,025,236 7,939,189 Funded debt
, 0,000 1, 0,00
The construction of grain elevators along the lines has been encouraged, Treasury
bonds
202,000 227,000 Guar. sub. co. bds_*1,425,000*1,425,000
and several have already been erected, while others are in course of erection. Cash
Notes
and
&
accts.
current
pa,y'le
183,892 118,487
When the belt lines shall have been completed, the grain traffic should deassets
283,472 170,872 Acced int.,taxes,&e 175,812 114,534
velop rapidly. A new train service from Peoria to Decatur has been placed
95,189 Miscellaneous
117,270
124,257
82,433
in operation. The sleeper service which has been in operation from Spring- Sinking fund accts
5,072 Profit and loss
15940
,
494,957 456,867
field to East St. Louis for a long time has disclosed the desirability of its ex- Miscellaneous
------tension elsewhere. New cars have been ordered for a Peoria-St. Louis serTotal8,643,918 8,437,322
Total
8,643,918 8,437,322
vice, with berths longer than in the average Pullman. These cars will be
* Includes guaranty on Indiana Northern Traction Co. bonds, $500,000, and
placed In service within three months.
Local Utility Properties.-Construction work laid out for the public utility Muncie & Union City Traction Co. bonds, 8925,000.-V. 90, p. 627.
plants of the system has all been completed. Marked improvement in
capacity and efficiency in the gas departments of Danville, Champaign and
American Brake Shoe & Foundry Co., New York.
Decatur has been made.
(Official Statement Dated May 27 1910.)
.The controversy with the City of Bloomington over the right of the
Bloomington & Normal By, & Light Co. to occupy the streets of the muThe statement made to the New York Stock Exchange
nicipality was concluded in June by the granting of a new ordinance for
20 years. This ordinance is considered exceedingly fair in its terms.
on May 27 in connection with the listing of the $4,000,000
The Des Moines Electric Co., a corporation which controls the electric
lighting and power field in Des Moines, Iowa, has been acquired. It will pref. stock and $3,600,000 common stock affords the following information:
prove a desirable acquisition.
[The improvement expenditures for the system in 1909 aggregated $1,Organized
29 1902 under laws of N.J. Charter perpetual. Author759,347, notably: Danville Street By. & Ltg. Co., $131,910: Des Moines ized capital: Jan.
pref. stock and $5,000,000 common stock, all in
Elec. Co., $236,170 ($100,131 for electric distributing system); Illinois shares of $100$5,000,000
each.
these amounts, $1,000,000 pref. stock and $1,400,Central Traction Co.,$153,370; Peoria Bloomington & Champaign Trac- 000 common stock areOf
unissued,
and can only be issued for value received,
tion Co., $329,243, incl. $224,649 for power plant equipment..-Ed.]
as provided by law. Holders of pref. stock are entitled to receive out of
surplus or net profits a cumulative 7% dividend, payable quarterly before
BONDED DEBT OF PROPERTIES CONTROLLED AND PREF. STOCK OF any dividend is paid on common stock. After the holders of common stock
receive a 7% (non-cumulative) dividend in any year the board may pay
ST. LOUIS SPRINGFIELD & PEORIA DEC. 31 1909.
out of surplus or net profits a further dividend for said year to holders of
(Interest 5% except as otherwise marked.)
pref. stock. Upon liquidation or dissolution, holders of pref. stock are entitled to receive par and accrued dividends charged from remaining assets.
Bonds
Bonds
If sufficient. Holders of common stock are entitled to receive pat; the resiCompanyOutstanding.
CompanyOutstanding. due of assets shall be divided ratably among holders of pref. stock. The
Central Railway
Danville Urbaca & Champaign
$570,000 pref. and common stock have equal voting rights and are full paid.
$1,802,000 Peoria Railway
By. Co. first mtge
2,249,000
Since the date of the last annual report on Sept. 30 1909 the following
General mortgage
Second mortgage (6%)
450,000
z500,000 amounts of stock
have been issued, viz.' (a) $100,000 of common stock on
29,000 Madison Co. Light & Pow. Co.. 398,000 Nov. 23
Danville Consumers Coal Co
1909, sold for cash at par for working capital; (b) under action of
198,000 Chicago Bloomington & DecaDanville & E. Illinois By. Co_
stockholders
March
29 1910, increasing the stock to $10,000,000 ($5,000,000
Railway
tur
Co
17,000
Danville & Northern RR
1,188,000 pref. and $5,000,000 common),there were issued $1,000,000 pref.
stock and
694,000 Springfield & North Eastern
Danville St. Ry. & Light Co
$1,000,000 common stock. Said additional pref. stock was issued for cash
debentures__ _ x369,000
Traction Co
do
do
800,000 to the stockholders at 102;5% net to the company and the said common
Peoria Bloomington & ChamUrbana & Champaign Ry., Gas
stock
was
foundry
issued
in part payment for two
plants at Melrose Park
paign Traction Co
330,000
& Electric Co., cons
2,000,000 and Burnside, III., now operated by this company.
170,000 Peoria Lin. & Springfield
First mortgage
When the company was organized a mortgage was given to the Farmers'
x270,000
Traction Co
Debentures
900,000 Loan & Trust Co., trustee, to secure $1,000,000 1st M.5% bonds, due
1952,
St. L. Dec. & Cham. Rail. Co_ 1,493,000
Urbana Light, Heat & Power
41,500 St. L. & Springfield By. 1st H. 480,000 covering all the property; $168,000 of these bonds have been redeemed and
Co. first mortgage
Urbana Light, Heat & Power
St. L. Spr. & Peo. RR. 1st M_x1,846,000 canceled.
The company purchased (a) at organization the brake-shoe patents of
72,000
Co. consilidated mortgage_ _
General mortgage
x391,000
Decatur By. & Lt. Co. cons. M. 638,000 Citizens By. Co. of Venice.... 400,000 the American Brake Shoe Co. and of the Streeter Brake Shoe Co., both of
Illinois; of the Corning Brake Shoe Co. of New York, and the brake-shoe
General mortgage
x177,000
patents and the manufacturing plants in fee of the Ramapo Foundry Co..
Decatur Traction & Elec. Co
Total
212,000
$24,956,814 Mahwah, N. J.; Sargent Co., Chicago
Heights, Ill.; Corning Iron Works,
Dentur Gas & Elec. Co. 1st M. 300,000
Corning, N. Y.; Ross-Meehan Foundry Co., Chattanooga, Tenn.; Lappin
Second mortgage
Preferred Stock90,000
Brake Shoe Co., Bloomfield, N. J.; also an iron foundry (leased) at Buffalo,
Des Moines Electric Co
x1,250,000 St. L. Spr. & Peoria RR
x1,625,000 N. Y. (b) Since organization the original plant at Chattanooga and the
Des Moines Ry. & Light Co
x837,314
plant at Corning have been sold.
Illinois Central Traction Co
1,469,000
Total
$26,581,814
General mortgage
Plants at Present Owned and Leased-Total Annual Output, 175,000 Tons
x175,000
Illinois Western Railway Co
113,000
*Roads under Construction.
Plants Owned in FeeOwned in Fee (Concluded)Jacksonville By. & Light Co
430,000 Danville & Southeastern By.. x$60,000 Mahwah. N. J
acres
50
Melrose Park, III
3 acres
If
Jacksonville Gas Lt.&Coke Co. 175,000 St. Louis Elec. Term. By. Co. 1,410,000 Chicago Heights,
13
Operated under LeaseIll
Jacksonville Ry. Co.(6%)_ _
34,000 St. Louis Electric Bridge Co__ 1,981,000 Chattanooga, Tenn
" Norwood, Mass.,lease exp. Apr.1 '14.
8
Bloomington & Normal By.,
Springfield Belt Railway Co__ 300,000 Uniontown, Pa
5
" Buffalo, N. Y lease exp. Dec. 31 '11.
Electric & Heating Co
600,000 Terminal Power Co
x85,000 Minneapolis, Minn
" Aurora, Ill., lease expires Nov. 1 '10.
2
9
d.
Bloomington & Normal By. &
Burnside, Ill .
Light Co
Total
739,000
$3,836,000
The company owns $410,500 of the total issue of $411,000 capital stock
--* Amount of bonds outstanding Dec. 31 1909. Further bonds withdrawn from of the American Malleables Co. (of N. J.); auth. capital stock, $500,000
time to time as construction progresses. Interest on these bonds does not become (par of shares, $100), company manufacturing malleable castings (annual
output about 10,000 tons) at its plant at Lancaster, N. Y., containing 8
a charge against revenue until the lines are in operation.
acres; owns, but is not now operating, a plant at Bloomfield, N. J., conx These issues appear for the first time this year.-Ed.
taining 2 4 acres. Also owns $24,500 out of $25,000 stock of Am. Land &
Building Co. (of N. J.), which owns 60 acres of land and homes at Mahwah
RESULTS FOR CALENDAR YEARS.
N. J., and sells and leases the same to the employees of our company.
[Pomroy & Co., 25 Pine St., N. Y., in a recent circular regarding the
Gross Earnings1909.
1908.
1907.
Interurban
$1,980,779 $1,847,381 $1,610,257 enterprise, say: "The company further has a long term contract with the
Canada Iron Corporation, Ltd. (V. 90, p. 1427), for manufacturing brake
Local street railway
1,371,119
1,283,892
1,226,591 shoes at their plants located in Londonderry, Three Rivers, St. Thomas
Gas
293,072
277,085
259,572
Fort William, thus thoroughly covering the Canadian territory. In
Electric light and power
961,115
872,394
819,427 and
addition to its brake-shoe output, the company does a large business in
Steam heating
138,486
134,286
127,453 special
steel castings of various types and holds numerous contracts for
Miscellaneous
7,511
14
13,282 gray Iron
railroad and other castings, which arc manufactured at several
of
its
plants."
-Ed.].
Total gross earnings
$4,752,082 $4,415,051 $4,056,582
Operating expenses
Dividends Paid.
$2,585,043 $2,423,757 $2,217,287
General and overhead expenses
43,150
'02. '03. '04. '05. '06. '07. '08. '09. -----1910Taxes
120,876
1
2 4 4 4&lex. 4Y, 5 Mch., 13 & 34 ex.; June, 1%
99,021
78,952 Common ...% 1
Preferred ____ 7% per annum (14 Q-M. 30) continuously since June 30 1902.
Total operating expenses
$2.749,069 $2,522,778 $2,296,239
Net earnings
$2,003,013 $1,892,273 $1,760,343 INCOME ACCOUNT-YEAR ENDING SEPT. 30 1909, SIX MONTHS
ENDING MARCH 31 1910
Percentage of operating expenses....
57.85
57.14
56.61
Less net earnings of Des Moines propYear 1908-09. 6 Mos. 1909-10.
75,749
erty prior to purchase
147,776
109,643 Gross income from all sources,
$4,039,873
$2,654,581
Expenses-Operating, &c., IffeludIng depreen_ _ 3,164,101
2,086,219
Total net revenue
$1,927,264 $1,744,497 $1,650,700
Deduct-Interest on bonds, &c
$1,258,050 $1,220,537
$985,631
Balance of income
$875,772
$568,362
Dividends on preferred stock
259,146
217,116
201,953 Interest on bonds
42,121
20,800
Total deductions
$1,517,196 $1,437,653 $1,187,584
$833,651
Net profits
$547,562
Surplus income..$410,067
$306,844
210.000
$463,115 Dividends paid-Preferred
105,000
116,000
63,750
Common
BALANCE SHEET DEC. 31.
13,000
Extra dividend com. M of 1%.
1909.
1908.
1909.
1908.
$507,651
Balance of profits
$365,812
AssetsLiabilities3
$
$
BALANCE SHEET SEPT. 30 1909.
Stocks of sub. cos_11,268,767 10,214,267 Preferred stock___ 4,552,600 3,618,600
Adv. to sub. cos.,
Liabilities ($9,147,826)Common stock... 7,594,500 6,594,500
Assets ($9,147,826)roiling stock and
Bonds
$6,127,007 Preferred stock
910,500 Plants, patents, &e
$3,000,000
other investm'ts 2,522,096 2,154,438 Accrued interest on
247,528 Common stock ____83,000,000
Miscellaneous securities
Due by sub. cos__ 210,626
Unissued
bonds of con205,188
Am. Malleables Co.(cap. stk.) 374,818
500,000-2,500,000
Accts. & notes rec.. 326,920
245,793
trolled cos
174,926
6,269 First mtge. bonds.._$1,000,000
220,949 Insurance not accrued
Discount on bonds
111,534 Less red. & canceled 168,000- 832,000
152,585 Accts.& notes pay. 608,802
252,256 Cash
Stores on hand__ _
127,768
81,916 Reserve on acct. of
Accounts and bills receivable_ 984,783 Reserve funds
912,831
Cash in bank
5,946
371 Accounts payable
accident insur_
14,560
10,931 Accrued int. on investments_
377,848
Accident fund_
985,012 Accrued interest on bonds_ _ .._
*1,460,428 *1,399,876 Inventory stores
9,732 Surplus
3,467
---- ---- Manufactured stock
310,414 Surplus Sept. 30 1909
2,021,680
Total
1,1,462,123 13,007,612
14,462,123 13,007,612
Total
Directors -Term expiring 1910: Otis H. Cutler, Edward H. Fallows,
* After deducting in 1909 $149,515 for discount on bonds, and in 1909 and 1908 Joseph D. Gallagher, Thomas W Lamont, William D. Sargent, all of New
York. Term expiring 1911: James B. Curtis and Henry C. Knox, of New
$200,000 appropriated for depreciation, &c.
•
York; Joseph B. Terbell, Chicago, Ill.; George M. Sargent, Evanston, Ill.;
Elmer J. Snow, Mahwah, N. J. Term expiring 1912: Joel S. Coffin, Robert
J. Davidson, Fred W.Snow, Waldo H. Marshall and Gates W. McGarrah,
Indiana Union Traction Co.
all of New York
Officers.-Thomas W. Lamont, Chairman of board; Otis H. Cutler, Pres.:
(Statement for Fiscal Year ending Dec. 31 1909.)
Joseph D. Gallagher, Joseph B. Terbell and Joel S. Coffin, Vice-Presidents:
Henry
C. Knox, Sec. and Treas. Office, Hudson Terminal Bldg., 30
1909.
1907.
1908.
1906.
00, p. 1556.
Gross earnings
$2,103,019 $1,902,330 $2,089,232 $1,943,101 Church St., N. Y. City.-V.
Operating expenses_ _ _ _ 1,113,429
1,111,198
1,058,745
995,266
(Nev.)
Net earnings
Interest on bonds of subsidiary cos., also taxes
$989,590
730,183
728,674
728,115
680,818
Net income
Divs. on stocks of Union
Trac. Co. of Ind. and
Mun. Hartf. & Ft. W.
Ry., and interest on
Ind. Un. Tr. Co. bds_
$259,407
$114,911
$249,919
$267,017
Balance
218,573
$843,585
125,575
$978,034
229,897
$947,835
151,514
sur .$40,834 def.$10,664 sur .$20,022sur .$115,503
Consolidated Mines Co.
Goldfield
(Report for Fiscal Year ending Oct. 31 1909.)
President Geo. Wingfield, Goldfield, Nev., Oct. 31 1909
wrote in substance:
The calendar year 1909 is the first year in'the company's life when its
equipment has permitted adequate production. The result was an output
(of gold) so extensive anti economical as to enable the company to distribute during the calendar year an exceptionally large amount in dividends.
During the fiscal year the company has acquired title in fee simple to all
properties formerly held by stock control, consisting of 380.627 acres of
mining ground. Its milling plant has been completed, permitting the
JULY 23 1910.j
THE CHRONICLE
treatment of a greater tonnage of ore per stamp of equal weight than any
reduction plant previously constructed, and with this an average extraction of 92.66%.
The properties have produced 194,479 tons of ore, of an average value
of $37 98 per ton, or $7,386,451 gross, from which there has been recovered
92.50%, or net returns of $6,832,652. This has been accomplished at a
mining, milling, transportation and general expense of $4 83 per ton, and
a development expense of $1 94 per ton, making a gross operating expense
of $6 77 per ton.
The total gross earnings for the fiscal year, including lease royalties and
miscellaneous earnings, are $6,598,871. The net profits are $5,026,620.
We have disbursed during the calendar year three dividends at the rate
of 30 cents per share each, and have declared a fourth dividend at the same
rate, together with an extra dividend of 20 cents per share, payable to
stockholders of record Dec. 31, making total dividend disbursements to
stockholders within the calendar year of approximately $5,000,000, or
$1 40 per share (par $10).
The company commenced the fiscal year with a cash balance of $786,388
and closes the year with a cash balance of $1,365,524 and has bullion and
concentrates in transit amounting to $479,341. It has no debts.
Development work has revealed an ore tonnage exposed of 800,000 tons,
with an unexplored and partially explored acreage so great as to give
assurance of future development of ore bodies adding, greatly to the life
and productiveness of the property.
[For the six months ending June 30 1910 the net earnings
available for dividends were about $4,000,000 (the monthly
returns showing a total of $3,985,514, a press report a total of
$4,019,143). This, it is understood, is an increase of over
$500,000 as compared with the same period in 1909.]
General Manager Jno. H. Mackenzie, Goldfield, Oct. 31
1909, wrote in part:
213
furniture, $28,868; compressor plant, $60,460; power station and pole line, $17,965;
miscellaneous real estate, buildings and equipment, $71,451.
The balance sheet of the Goldfield Consolidated Milling & Transportation Co.
Oct. 31 1909 shows total assets (incl. cash $708,243), $1,926,269, offset by capital
stock, 8400,000; accounts, &c., payable, $520,713; undivided profits, $1,005,586.V. 90, .p 1680.
Ohio Fuel Supply Co., Pittsburgh.
(Report for Fiscal Year ending April 30 1910.)
Recent important changes have been mentioned in V. 90,
p. 854, 1047, 1365; V. 91, p. 41.
RESULTS FOR YEAR ENDING APRIL 30.
1910.
1909.
1910.
1909.
Gross EarningsDeduct$
s
Sale of gas
2,838,506 2,377,728 Producing expenses_ 756,103 655,918
Sale of oil
54,996
62,248 Distributing expenses 178,045 166,710
Drilling tools
20,976
50,546 General expenses__ _ 123,938 116,955
Int. on daily balances
4,540
3,340 Oil expenses
18,657
12,297
Sale of oil leases_
68,809 Gas purchased
363,942 329,832
Miscellaneous
9,264
6,297 Bad debts
2,849
1,647
---- ---Total gross earns_2,928,282 2,568,968
Total deduction,s_1,443,534 1,283,359
Net earnings
1,484,748 1,285,609
Dividends, 10%
825,060 700,000
Balance, surplus
659,748
585,609
1910
B
.ALAN1C
9E
09.
SHEET APRIL 30.
1910.
1909.
AssetsLiabilities$
Investments
14,979,338 9,418,740 Capital stock
10,000,000 8,000,000
Material in stock__
169,752
133,059 Accounts payable
adjust_ 278,496 1,001,516
Cash
183,345
183.345
219,336 Inventory
receivable_ 811,813
526,722
ment account__
19,644
22,464
Treasury stock
1,000,000 1,000,000 Profit and loss_ _ _ 6,846,108 2,273,877
Property.-On July 1 1909 your company purchased all of the property
'of the Goldfield Mohawk Mining Co., Red Top Mining Co. of Goldfield,
Jumbo Mining Co. of Goldfield, Laguna Goldfield Mining Co. and Goldfield
Mining Co. of Nevada, which were formerly controlled through stock ownership, and proceedings have been instituted to dissolve these companies.
Total
17,144.248 11,297,857
Total
17,144,248 11,297,857
Your company, therefore, now holds in fee simple 380.627 acres of patented
The report of the Ohio Fuel Oil Co., whose shares (par $1) were distributed to the
mining claims. Subsequently, in order to secure better administrative
facilities, your railway and mills were sold to the Goldfield Consolidated shareholders of the Oil Fuel Supply Co. ast October, showed as of April 30 1910:
Milling & Transportation Co. Your company holds all of the ($400,000) Stock auth., $500,000, of which $180,000 in the treasury; bonds, $500,000, of which
836,000 in treasury; profit and loss surplus, $492,128. Also gross earnings: Sale of
stock in this new corporation and receives all of its profits.
Mining.-A total of 40,668 feet of development work was performed water, $13,717; sale of gas, $15,475; sale of oil, 8559,094; allowance for oil steamed,
during the past fiscal year, of which 27,469 feet was driven on company 84,967; drilling tools, $67,565; miscell., 8224; total, $661,042. Expenses: Oil exaccount and 13,199 feet by lessees. The Combination, Mohawk, Red Top pense, $69,778; water expense, $5,524; gas expense, $868; taxes, int., gen. exp.,
and Clermont shafts have been under continuous operation. Although $32,320; rentals on unoperated leases, $60,242; total, $168,915; net earnings,
development work only has been performed from the Clermont shaft $492,127. See also Inter-State Gas Co. on a subsequent page.-V .91, p.41
(Jumbo mine), a very considerable production of ore was made in September and October.
Maritime Coal, Railway & Power Co., Ltd.
Ore Production Fiscal Year ending Oct. 31 1909.
(Report for Fiscal Year ending Feb. 28 1910.)
Tons.
Ton Avg. Gross Value.
$3,371,613
64,536.742
$52 24
Combination
INCOME ACCOUNT.
2,373,182
Mohawk
78,520.150
30 22
1,391,751
Red Top
48,893.979
28 46
1909-10. 1908-09.
1909-10. 1908-09.
Clermont
249,899 Collieries
2,528.799
98 82
$54,970 $42,220 Bond interest
$33,318 $18,241
Railway
14,127 14,438 Interest and discount 5,807
4,128
Total
$7,386,451
194,479.670
$37 98
Power rental
9,489
9,734 Other deductions_a13,308
8,793
Outlook.-Previous to the past fiscal year the property had been operated
on a comparatively small scale with the object of mining high-grade ore,
Total earnings___ $78,586 $66,392
Balance, surplus_$26,153 $35,231
your
sulphide
ores
had
not
been milled on a commercial scale. The
and
new 100-stamp mill has been proven capable of the economical reduction
a Other deductions in 1909-10 include discount on bonds, $1,119; sinking
of 650 tons of sulphide ore daily, with high extraction. Developments fund, $2,886; bad debts written off, $236; depreciation on plant, $4,500.
have extended the productive area laterally as well as downward. At no and on mining rights, $1,067; directors' salaries, $3,500.
time has there been difficulty in holding the grade of ore at the average
BALANCE SHEET FEB. 28.
planned, and in spite of a gross production of 194,479 tons of ore containing
$7,386,451, the visible ore reserves have increased. The discovery of ore
1909.
1910.
1910.
1909.
In large quantities in lathe formation on the 750 and 900 levels of the ClerAssetsLiabilities8
$
3
mont has exposed ore to a depth of over 1,500 feet from the surface along Mint mg rights
1,814,606 1,814,606 Capital stock
2,000,000 2,000,000
the dip of the vein and has developed 450 feet of blacks below the 600 level Plant &development 667,870 472,539 Reserve fund
32,603
32,603
Mohawk, which heretofore was the deepest level on your property.
Railroad & equlpm't 229,716 227,422 Bonds outstanding
607,000 476,000
With the completion of improvements now under way in the Consoli- Real estate and store 148,171 131,121 Sinking fund
7,309
4,423
dated Mill, the capacity of the reduction plant will be increased to at least Cash
3,115 Reserve for deprec'n 10,067
10,537
4,500
850 tons per day, and profits equivalent to those of the past year can be Mining supplies
6,856
5,713 Sundry creditors_ _ _
47,889
50,688
made from ore of much lower grade than heretofore. If future develop- Coal on hand, unsold
3,508
Bills payable
13,550
68,211
ments continue to increase the tonnage of ore on the present levels of the Book debts
61,193
40,754 Accrued interest_
15,175
Clermont and expose ore to a depth of 1,600 feet, placing in reserve approxi Unexp.insur. prem's
2,478
2,841 Can. Bank of Corn.
mately 2,000,000 tons, the construction of another unit of the same ca- Discount on bonds
40,054
21,556
special loan
142,000
pacity as the present mill will be desirable.
Profit and loss acct.._ 109,395
83,242
________ -------Secretary and Treasurer A. H. Howe reported in brief:
Total
2,984,988 2,719,667
Total
2,984,988 2,719,667
On July 1 1909 the company's organization was changed from stock- -V. 90, p. 1681.
holding to actual ownership of its subsidiary properties. Employing the
established ratio of exchanges between this company and its subsidiaries,
American Glue Co., Boston.
terms of acquisition were established, with the Consolidated stock deemed
(Report for Fiscal Year ending May 31 1910.)
to possess an average value of $7 50 per share (par $10), as follows:
Basis of Exch. of Shares of Subsidiaries for Shares of Goldfield Cons. Mines Co.
The annual results compare as follows:
Exchange of Shares.
Subsidiary
PricePaid by Stk. Issued
Sub.Co. Con.at$7 50. Issued Stock.
1909-10.
1908-09.
1907-08.
1908-07.
G.C. M.Co. in Exch.
Mohawk __ One for two 710,000 at $15 00 $10,650,000 $14,200,000 Net
$295,985
$233,867
$203,024
$281,912
50,260
Red Top___ Two for one
852,500 at 3 75
4,262,500 Prem. from sale of stock
3,196,875
Jumbo ____ Two for one
700,000 at 3 75
3,500,000
2,625,000
$295,985
Total
Laguna__ Five for one
802,400 at 1 50
$284,127
1,604,800
$203,024
$281,912
1,203,600
50,000
884,150 at 1 50
$35,000
Goldf. Min'g Five for one
$30,000
$80,000
1,326,225
1,76 ,300 Depreciation
127,772
Preferred dive. (8%)
104,192
104,116
104,154
Total ("Stk. iss. in exch." supplied by Ed.)_ _ _$19,001,700 $25,335,600 Common dividends_ _ _ _ (6%)48,000 (4%)32,000 (6%)48,000 (5%)40,000
Final Dividends of Sub. Cos.-Parent Co. Receives therefrom $18,737,128.
$70,213
$112,935
Surplus for year
$20,909
$57,758
Percentage of
Shares Owned
Dividend to
893,297
780,361
759,452
701,694
G.C. M.Co. Previous surplus
by G. C. M.Co. Ownership.
97.90
695,080
Mohawk
$10,426,200
,
$963,510
$893,296
Total surplus
$780,361
$759,452
99.84
851,159
Red Top
3,191,846
99.41
695,840
2,609,400
Jumbo
BALANCE SHEET MAY 31.
99.31
1,195,344
Laguna
796,896
1910.
1909.
1909.
1910.
99.10
1,314,337
Goldfield Mining
876,225
AssetsLiabilities$
COMBINED PROFIT AND LOSS ACCOUNT OF THE GOLDFIELD CONSOLI- Cash
146,38111,394,604 Pref. stock
1,600,000 1,600,000
DATED MINES CO. AND THE GOLDFIELD CONSOLIDATED MILLING
Accounts receivable _ 1,328,470 f
Common stoc
800,000 800,000
AND TRANSPORTATION CO. FOR THE FISCAL YEAR ENDING
Notes receivable_ _ _
Notes payable
1,055,00011,054,290
76,313
OCTOBER 311909.
Mdse.,nifd.&In proc_1,015,578 941,248 Accounts payable
65,165j
Ore shipments
$734,494 General and miscellaneous__ __ $154,964 Real est. & mach'y_ 477,412 508,702 Profit and loss surp_ 063,509 893,296
---- Stocks owned
Concentrates
239,524
739,520 803,032
81,572,251 Pat. r'ts & good-will 700,000 700,000
Total expenses
Sales bullion
5,191,276
85,026,620
Mill products on hand and
Balance
.absorption
3,201,239
252,386 Dividends (0%)
Total
4,483,674 4,347,587
Total
4,483,674 4,347,587
---- -V. 91, p. 155.
Miscellaneous
181,191
---- Undivided profit for year_ __81,825,381
Total earnings
86,598,871 Undiv. profit Oct. 31 1908._ 2,442,016
ExpensesMining
Milling
Bullion tax
$4,267,397
Total
8839,178 Deprec'n & acc'ts charged off. *373,543
460,646
117,463
Undivided profit Oct. 31 '09 $3,893,854
* This item covers a period of three years, no depreciation having been charged oft
heretofore.
BALANCE SHEET OF GOLDFIELD CONSOLIDATED MINES CO.OCT.31.
1909.
1908.
1909.
1908.
AssetsLiabilities
Property, &c____a35,820,867 36,291,802 Capital stock
35,588,480 35,398,110
1,445,084
Stocks owned_ _ _
Bills payable
900,000
92,144
Supplies on hand_
94,693 Acc'ts payable _
94,945
64,906
34,472
Ore settlem'ts outst. 476,983
Accr'd bullion tax
2,320
157,381
113,150
Acc'ts receivable_
Undivided profits 2,888,268 1,006,748
Loans to sub. cos_
182,000
Bullion, &c., on
hand & in transit
120,490
(est. net val.)655
Unexpired insur__
459
857,281
Cash
25,258
38,606,165 36.872,083
38,606,165 30,872,083
Total
Total
a Property, &c., in 1909 includes: Mine properties, $35,353,277; mine buildings,
machinery and equipment,$192,096; mine development, $96,749; office building and
GENERAL INVESTMENT NEWS,
RAILROADS, INCLUDING ELECTRIC ROADS.
Alberta St Great Waterways Ry.-Hearings Closed.-The
Royal Commission which has been investigating the deal
under which the Alberta Government guaranteed the $7,400,000 50-year 5% bonds floated in London in Nov. 1909
(V. 89, p. 1346), recently concluded its sessions, stating no
witnesses would be recalled unless there was some point to."'
be cleared up.
It is thought the Commission's finding will not be made public before the
next meeting of the Legislature about September. The guaranty has been
criticized by some as too liberal, and the effect of coming upon the London
market with a guaranteed 5% security was, it was said, bound to have an
injurious effect upon the credit not only of Alberta but also of other provinces. Whatever the Commission may report, the Province, it is generally
understood, will be bound by the guaranty. Under the terms of the Act
providing for the issue of the securities, the moneyrealized from the sale of
the bonds has been paid into banks to the credit of a special account in the
name of the Alberta Provincial Treasurer.
214
THE CHRONICLE
The "Monetary Times" of Montreal says that a letter was read before
the Commission from the London house of J. S. Morgan & Co., and that,
"while the contents of the letter were not generally disclosed, it is understood that the financial firm has written that Mr. Clark (W. R. & D. 0.
Clark of Kansas City-Ed.] obtained no illegitimate commission; that the
sale of the bonds by Mr. Clark to them was a bona fide one at the terms
specified, and that no member of the Alberta Legislature got any profit out
of the sale.
Purchase of Coupons by Province of Alberta.-The purchase
of'coupons noted last week, it is now stated, was made on
behalf of the Province of Alberta, which guaranteed the
bonds, principal and interest. (Compare V. 89, p. 1346.)
-V. 91, p. 153.
Fg Buffalo & Susquehanna RR.-Majority of Pref. Stock Deposited-Time Extended.-The committee of preferred shareholders, J. N. Wallace, Chairman, announces by advertisement on another page that more than a majority in amount
of the preferred stock has been deposited under the agreement of May 12 1910, and that the time for the deposit of
thelremaining shares of said pref. stock with the Central
Trust Co. depositary, has been extended until Aug. 8 1910,
after which date no stock will be received except on such conditions as the committee may impose. (Compare V. 90, p.
1361.)-V. 91, p. 37. .
Buffalo & Susquehanna Ry.-Offering of Receiver's Certificates.-William Salomon & Co. New York, are placing
at par and int. the spresent issue of 8383,000 6% receiver's
certificates, dated July 11910, due July 1 1911, but redeemable at any time at 101 and int. These certificates are part
of a total auth. issue of 8750,000, and they have a prior lien
on all property in hands of the receiver of the Buffalo & Susquehanna Ry. ahead of that company's $6,000,000 1st
Int. J. & J. at office of William Salomon & Co.,
M. 4
New York. A circular says:
These certificates are Issued under authority given by the Supreme Court
of the State of New York to provide funds with which to discharge certain
claims against the railway company; to meet the payment of July 1 1910
on locomotive and car equipment In which the company has a large equity
growing out of previous payments; to take up all other outstanding receiver's certificates, and to provide for current needs. The total Issue under the
present Court order Is limited to $750,000, including the $383,000 certificates
now Issued. Provision is made whereby any receiver's certificates In addition to the $750,000 certificates already authorized will rank as a junior
lien thereto.
The certificates rank as a prior lien on the entire property of the Buffalo
& Susquehanna Ry. now In the hands of the receiver, including: (a) Railway from Wellsville, N. Y., to Buffalo, N. Y.,186.55 miles of main track;
(b) terminal property on Lake Erie in City of Buffalo; (c) equipment (not
Included under car trusts) valued at approximately $330,000;(d) an equity
valued at about $800,000 in equipment covered by equipment trust obligations which are being retired serially.-V.91, p. 153, 37.
Charleston (S. C.) Consolidated Ry. & Lighting Co.Lease.-This new company, with $2,000,000 capital stock in
$50 shares, all outstanding, consisting of $500,000 6% pref.
stock and $1,500,000 common, its officers being P. H. Gadsden, Pres., Walton Clark and G. H. Waring, Vice-Presidents,
W. F. Douthirt, Secretary, and Lewis Lillie, Treasurer, took
over 'under 99-year lease, on June 21, the property of the
Charleston Consolidated Ry., Gas & Electric Co. per plan
in V. 90, p. 1101, 1169. The lease guarantees rentals sufficient to pay 6% dividends on $500,000 pref. stock and
dividends on the $1,500,000 common stock as follows: 4%
to July 1 1911, 5% to Jan. 1 1913, 6% thereafter; also the
interest on the outstanding bonds. Messrs. Clark, Lillie and
Douthirt are respectively 3d Vice-Pres., 4th Vice-Pres. (and
Treas.) and Sec. of the United Gas Improvement Co. of
Philadelphia.-V. 90, p. 1101.
Chattanooga Southern RR.-Sale.-With a view presumably to clearing title for purpose of transfer to the Newman Erb interests (see V. 90, p. 848, 771), Alexander R.
Gulick, referee, gives notice that, in pursuance of a decree of
foreclosure entered in the Supreme Court, New York County,
July 15, in the case of H. A. V. Post and others, plaintiffs;
against Metropolitan Trust Co. and others, defendants, he
will sell at public auction, at Nos. 14 and 16 Vesey St.,
N. Y. City, on Aug. 1 1910, by Adrian H. Muller & Son,
auctioneers, the following property, upset price $50,000:
1,440 bonds Chattanooga Southern Railway Co.
11,522 shares of capital stock of Chattanooga Southern Railway Co.
Matured unpaid coupons of deposited bonds or other bonds of Chattanooga Southern Railway Co.
7,500 shares of pref. stock of Chattanooga Southern Railroad Co.
22,500 shares of common stock of Chattanooga Southern Railroad Co.
All interest of the reorganization committee of the Chattanooga Southern
Ry. Co. In the bonds and stock or to tho assets of the Chattanooga
Southern Railroad Co.
All rights and property of every kind, constituting the principal of the trust
created by agreement dated Feb. 1 1892 between the holders of
the first mtge. bonds of the Chattanooga Southern Railway Co.
(secured by mtge. dated Nov. 30 1899, to the Central Trust Co. of
N. Y., trustee), the holders of matured unpaid coupons and of
capital stock of said Railway Co., parties of the first part; H. A. V.
Post and others, of the second part; and the Atlantic Trust Co.
of the third part.-V. 90, p. 848, 771.
Chesapeake & Ohio Ry.-Bonds.-With reference to the
new equipment bonds, and also to the bonds of the new
Indiana company which were mentioned last week (p. 153),
an official statement says:
The management does not contemplate the Issue of equipment bonds
In the near future.
When present plans are completed, the Chesapeake & Ohio RR.of Indiana,
the successor of the Chicago Cincinnati & Louisville RR. Co., will have outstanding $8,200,000 bonds and $3,000,000 stock. No part of either will
be offered to the public, as the entire issue of each will be held In the C. & O.
treasury. They about cover the purchase price and obligations assumed
thereunder in the C. C. & L. acquisition.
[VOL. Lxxxxi.
Chicago & Alton RR.-No Action on Common Stock Dividend.-No formal action has been taken regarding the dividend usually paid Aug. 15 on the common stock; and the
impression gains strength that there will be no dividend
declared at this time on the common shares. Compare
V. 90, p. 1613.
Chicago Consolidated Traction Co.-Decision as to Cicero
& Proviso Bonds.-Judge Grosscup on July 19 announced his
decision as umpire in the controversy between the bondholders of the Cicero & Proviso Street' Ry. Co. and the Chicago Railways Co. Judge Grosscup was assisted in an advisory capacity by Calvin G. Goodrich, President of the Twin
City Rapid Transit Ry. Co. of Minneapolis, and George G.
Moore, Chairman of the Michigan United Rys. of Detroit.
The finding is as follows:
(1) We adopt the reorganization plan as made,requiring that $381,000 of
receiver's certificates be paid by the Chicago Railways Co. in cash.
(2) We adopt the reorganization plan in so far as it provides for the payment of the back interest by funding bonds.
(3) We find the value of the Cicero & Proviso properties to be $1,260,000,
Instead of $1,150,000.
(4) We divide the securities to be given to the holders of the bonds
[total issue $2,000,000.-Ed.) as follows: $630,000 of purchase bonds and
$650,000 of funding bonds instead of $300,000 of purchase bonds and
$850,000 of funding bonds, as provided in the original plan. (Compare
V. 90, p. 1613.1-V. 91, p. 37, 153.
Chicago Great Western RR.-Leavenworth Terminals ,/
Acquired.-The company has purchased the Leavenworth'
Terminal Railway & Bridge Co. or control of its stock. The
capitalization of the latter is $600,000 stock and the same
amount of bonds.-V. 90, p. 1554.
Cicero & Proviso Street Ry., Chicago.-Decision.-See
Chicago Consolidated Traction Co. above.-V.88, p. 100.
Cleveland (Electric) Ry.-Earnings, &c.-The results of
operation for the 4 months ending June 30 (the new ordinance
under which 3-cent fares are charged having gone into effect
on March 1) are said to show a deficit of $78,828, the deficit
for June alone having been $48,927. The directors on July
16 voted to borrow $250,000 to meet outstanding obligations.
-V.90, p. 1675.
Colorado & Southern Ry.-Listed.-The New York Stock
Exchange has listed 83,000,000 additional "refunding and
extension" mtge. 43% bonds, due 1935, making the total
amount listed to date $27,882,000.
Purposes for which $3,000.000 Bonds Listed Have Been Issued.
For $68,000 1st M. 5% and $194,000 2d M. 5% bonds of Colo.
Springs & Cripple Creek District By., retired by sinking funds__ $262,000
Betterments and improvements for 1909 ($48,242 having already
been appropriated for additional tracks, structures, machinery
and bridges, and $754,868 being now held for future expendi803,110
tures)
To acquire the following securities of other lines, viz.:
(a) $100,000 stock and $176,000 1st M. 6% bonds Of Denver do
225,631
Interurban RR
63,520
(b) $60,576 stock of Ft. Worth & Denver City By
(c) $81,600 stock and $1,872,880 1st M.6% bonds of Stamford
& Northwestern By
1,645,739
-V. 90, p. 372.
Commonwealth Power, Railway & Light Co., Michigan.Second Dividend on Preferred.-A second quarterly dividend
of 1
has been declared on the $6,000,000 6% cumulative
preferred stock, payable Aug. 1 to holders of record July 18.
The same amount was paid May 1 last.-V.91, p. 38.
Grand Trunk Pacific Ry.-Bonds Offered in London.Subscription books were to close at the Bank of Montreal
in London on July 20 for £2,000,000 3% 1st M. bonds due
1962, bearing the guaranty of the Dominion Government,
which were offered at 823'. There had previously been
listed on the London Stock Exchange £5,200,000 of this
issue.-V. 90, p. 1044.
Jamestown Chautauqua & Lake Erie RR.-Application to
Electrify Road.-The company, whose road, extending from
Westfield to Jamestown, N. Y.. 37M miles, is operated by
the Buffalo & Lake Erie Traction Co., has applied to the
Public Service Commission, Second District, for permission
to electrify its line. The road has been operated by steam
and, presumably, the freight traffic will continue to be
handled in this manner.
Kentucky & Indiana Bridge Co.-Extension of Leases-.
Mortgage.-The "Louisville Courier-Journal" July 15 said:
As has been arranged for some time, the agreement between the Baltimore & Ohio Southwestern, the Chicago Indianapolis & Louisville, the
Southern Railroad companies and the Kentucky & Indiana Bridge & RR.
Co. for the organization of a new company to build a new Kentucky &
Indiana bridge over the Ohio was filed In the County Clerk's office late
yesterday afternoon. The effect of the agreement is to extend the lease
99 years, and simply states that the three railroad companies deem It necessary to erect a new structure to take the place of the old bridge. The agreement stipulates that bonds in the sum of $10,000,000 will be Issued under
the terms of a deed to the Standard Trust Co. of New York.
It is provided In the agreement that no other railroad shall use the bridge
unless the consent of at least five directors shall be secured.
Schedule of Valuation of Properties of Kentucky ee. Indiana Bridge Co.
Given in the Agreement.
Bridge and approaches
_ - -- -- ------ - - -----$1 058 427
Railroad from 13th and Marine--- Baltimore -- ----- and- Monon
freight yards, Youngstown yards, &c
658,249
and
7th
to
Magnolia
Ave
Railroads from Youngstown
314,339
The agreement was signed by the railroads June 1 1910. Compare
V. 90, p. 1676; V. 91, D. 38.
Leavenworth Terminal Railway & Bridge 0o.-Sale.-See
Chicago Great Western.-V. 89, p. 1597.
Manila Railroad (Southern Lines).-Offering of Bonds with
Interest Guaranteed by the Government of the Philippine Islands.
Decision.-Judge Burdett in the Circuit Court on June 27 -Speyer & Co., New York, are offering at 86 and int., by
dissolved the temporary injunction granted in June 1909 advertisement on another page, $2,000,000 1st M. 4% gold
restraining the enforcement of the 2-cent passenger law passed bonds, due May 1 1939 but subject to call as a whole or under
by the West Virginia Legislature in 1907.
sinking fund provisions at company's option at 110 and int.
The company is ordered to refund to holders of coupons the excess of
fares collected over 2 cents per mile. A stay of 60 days was granted to on any interest date after 3 months' notice. Interest M. &
allow for an appeal to be taken.-V. 91, p. 153.
N. The Government of the Philippine Islands guarantees
;
JULY 23 1910.1
THE CHRONICLE
payment of 4% interest per annum on the face value of the
above $2,000,000 bonds by endorsement on each bond, by
virtue of Act of Congress of the United States of America.
Par $1,000 (c* & r*). Prin. and int. payable without
deduction for any taxes under any present or future law
of the United States, State, county or municipality
therein, or the Philippine Islands.
Statement Authorized by Secretary of United States Treasury.
RR. Co. (Southern.
"The first mortgage 4% gold bonds of the Manila
interest by the Philippine GovLines), issued in 1910 and guaranteed as to Department
as security for deTreasury
ernment, will be accepted by the
banks on the
posits of the public money of the United States In national
at 90% of their
Co.,
Railway
Philippine
the
of
same terms as the bonds
whenever further
market value, but not to exceed 90% of their par value,
substituted
deposits are to be made." [These bonds, therefore, may be
United States
for any bonds now on deposit to secure public moneys, except and
Territory
bonds and the Philippine. Porto Rico, District of Columbia
when the deposit of public
of Hawaii bonds. The Treasury Department,
State,
that
require
is
will
banks
reduced,
moneys with the various national
the
city and railroad bonds be withdrawn before the Philippine Ry. Co.and
Philippine
the
that
but
bonds,
will
require
Lines)
(Southern
Manila RR. Co.
withdrawn
Ry. Co. and the Manila RR. Co. (Southern Lines) bonds be Territory
before the United States, Porto Rico, District of Columbia and
of Hawaii bonds are withdrawn.]
Statement Authorized by United States War Department.
May
"Pursuant to Act No. 1493 of the Philippine Commission, enactedbonds
24 1906, amended by Act No. 1620, enacted March 22 1907, these
Bank.
Savings
Postal
the
Philippine
for
investment
are legal
"In view of the fact that the Philippine Government has granted a concession to the Manila RR. Co. for the construction of certain railroads,
bonds,
and has executed the contract of guaranty of the Interest of their parathe
and in view of the fact that the Philippine Government realizes
and
mount necessity of railroads for the welfare of the Philippine people,
in
In view of the Intense Interest which the Philippine Government takes
the Secrethe success of the enterprise undertaken by the Manila RR. Co.,
subscriptions
to
receive
Affairs
Insular
of
Bureau
tary of War authorizes the
for these bonds."
Subscriptions will be received simultaneously in Washington, D. C., by the Bureau of Insular Affairs, U. S. War
Department; in London by Messrs. Speyer Brothers and
Hongkong & Shanghai Banking Corporation. Application
will be made to list the bonds in New York and London.
Abstract of Letter from President and General Manager Horace,L. Higgins,
Manila, June 7 1910.
The Manila It. R. Co.,which succeeded the old English company holding
Government, was organized in 1906 under
Spanish
concessions from the
amended
laws of New Jersey; and by concessionary grant of Aug. 28 1906,
and a
by Act No. 1714 of Philippine Commission enacted Sept. 18 1907;
concessions
1909:
2
Aug.
holds
grant
dated
supplementary concessionary
($3.for 820 miles of railroad In the Island of Luzon. All the share capital
652,800 7% cum. pref. stock and $2,130700 common stock), except
shares to qualify directors, Is owned by Manila Ry. Co. (1906), Ltd.
The concessions admit free of duty construction material and equipment (these to be of good quality and design).and provide that all plans for
work shall be subject to approval by the Gov.-General of the Philippines.
of
and that all bills and construction accounts shall be subject to the audit
the Philippine Govt.; also that there shall be paid annually, for 30 years,
the
an amount equal to Si of 1% and for 50 years thereafter 1 M% of Mc
Frank
gross earnings In lieu of all taxes. Two of the directors, Col.Government
and Paul Charlton, were appointed by the Philippine
n
Ityre
under Act of Congress.
the
The company's lines comprise (aside from suburban electric lines) Its
entire railroad system of Luzon, the chief of the Philippine Islands,
population by latest census being 3,798,000 and area 40,969 sq. miles.
Including Manila, the capital, (est. population about 220,000.) The lines
authorized will form a railroad of 820 miles, divided into (1) the
"Northern Lines," to comprise approximately 350 miles to the north of
Manila; (2) the "Southern Lines," which will comprise approximately 470
miles, all but about 20 miles to the south of Manila, and a Port Line in
Manila connecting with the Government wharves and warehouses. There
are now in operation 286 miles of the Northern Lines and approximately
are
60 miles of the Southern Lines. The two systems (and their accounts)
required to be kept distinct, as If owned by separate companies, but under
traffic.
of
the same management, with every facility for a free exchange
The greater part of the above-mentioned 286 miles of the Northern
Lines has been opened for traffic for years, and their earnings have shown
a steady and material increase. Of the Southern Lines, approximately
60 miles are open for traffic. From the operating results so far obtained,
comit is confidently anticipated that the net revenue for 1910, the first
plete year of operation, will already be about sufficient to meet the annual
interest on the $2,000,000 bonds now offered. The 470 miles constituting
the Southern Lines will traverse a highly productive agricultural country
reaching all the Important towns of Southern Luzon.
The above :.000.A,0 bonds are part of a total authorized issue limited
to $30,000,000 bein; a direct first mortgage (Farmers' Loan & Trust Co.,
N. Y., trustee) on ti.e whole of the Southern Lines and the equipment
thereof. Under Act of Congress of the U. S. of A., approved Feb. 6 1905,
the Govt. of the Philippine Isl. guarantees 4% interest on the above $2,000,000 bonds (and on all future issues under the mt N.) by endorsement on
each bond. Any payments made by the Government under its guaranty
are to be repaid only at maturity of the bonds, and the lien of the Govt. to
secure repayment is subject to the lien of tills mortgage. Bonds can be
issued only to the extent of the cost of railroad and equipment constructed
or acquired prior to the supplementary grant of 1000, and to the extent of •
95% of the cost of lines of railroad and equipment constructed or acquired
the
subsequent to such grant, but only on certificates of cost approved by The
Philippine Govt. or by the U. S. Secretary or Mat. Sec. of War. the
of
the
of
cost
account
actual
on
issued
$2,000,000 bonds now offered arc
Southern Lines (also equipment), constructed or acquired prior to the
supplementary grant of 1909. Both principal and interest are payable
In N. Y. in U. S. gold coin; or, in case of coupon bonds, at holder's option,
4.20
In London at $4 86 per I; or In Frankfort o-Main or Berlin at marks
per dollar; or in Amsterdam at florins 2.48 per dollar, or, if made payable
In France, Belgium or SwitzerIlful, at 5.10 francs per dollar.
The company covenants that after April 30 1019 it will not in any year
pay a dividend upon its capital stock out of the earnings of the Southern
Lines unless it shall have paid to the trustee annually for the redemption
of bonds sums as follows: From May 1 1919 to April 30 1928 an amount
equal to M of 1% of bonds outitantil-g at date or payment; and from
May 1 1928 to maturity.
yearly --V. 90, p. 503.
Mexican Union Ry., Ltd.—Further Particulars.—This
company, with office in London, its capital stock being
£130,000, recently had 9,750 of its 1st M.6% bonds (par £20
or 500 francs) offered at 93 in Paris. A circular (in French)
reports:
Capital stock, 1130,000, or 3,250,000 francs. The company has the right
to issue bonds (including the present 9,750) at the rate of 23,000 per kilometer on line already constructed or on extensions hereafter constructed,
under construction or about to be constructed. Bonds redeemable in 60
years beginning 1920 by annual drawings or by purchase, with the privilege
to the company of redemption before maturity on any F. de A. beginning
Feb. 1 1916 at 110 on 6 mos. notice. Administrative body: Arthur.Townsend, 101 Leadenhall St., London B.C., President of Blake SS. Co., Ltd.;
Sir James Pender, Salisbury; N. Grattan Doyle, Loughbrow, Hexham;
Bernard W. Crisp, 4 Austin Friars, London E.C. Bankers: Banque de
Rome, Paris; London City ee Midland Bank, Ltd., London E. C.
The first section from Torres on the Southern Pacific to Represo, 30
kilometres (or with branches 35 kilometres), has been completed, and a
30 kilometres into
contract has been given for the construction of a further
a thickly wooded district. An additional extension of 50 k. in. will take
and
will be made
Javier,
application
San
of
district
mining
the line to the
for a concession for a further 35 kilometres to the River Yaqui, a total distance of 145 kilometres from Torres. With the first 60 kilometres In operation it is estimated that the earnings will be: Gross, 130,000; net available
for interest, £15,500. At the expiration of the concession the railroad will
become the property of the nation.—V. 91, p. 39.
215
"[Ferrocarril] Mesicano del Centro" RR.—Bonds Offered
in Paris—Interest Guaranteed.—This company, capital stock
$3,000,000, has been receiving subscriptions at its Paris
office.(20 Rue Saint-Georges) at about 90 (fr. 232.50) for
27,000 1st M. 5% bonds of the par of value 100 piastres(payable at 258 francs),principal due May 1 1930, being part of a
total authorized issue of 3,900,000 piastres (say, $1,900,000
U. S. money), with interest guaranteed for 20 years by the
State of Zacatecas, Mexico, payable M. & N. at Paris and
in cities of Zacatecas and Monterrey, Mex., free of all
Mexican and French impost taxes. The remaining 12,000
bonds are in the treasury.
The company holds concessions for railroad lines from Camacho to Bonanza via Tecolote and Cedros and from Cedros to Salaverna via Mazapil in
the State of Zacatecas, Mexico. The Government of this State, it is announced, has been authorized by the Congress to guarantee 5% interest on
this sum of 3,900,000 piastres. Board of Managers: Francisco Madero
(President), Manager of the Bank of Central Mexico; Rafael Hernandez,
Vice-Free.; Gustavo A. Madero, Monterrey; Rodolfo J. Garcia, Alfonso
Madero, Monterrey; Rafael P. Urbina, Secretary.
New Hampshire Electric Rys.—Dividend Increased.—A
dividend of 1
has been declared on the $3,399,500 4%
non-cumulative preferred stock, payable July 30 to holders
of record July 20, comparing with 1% semi-annually since
July 1908.—V. 90, p. 237.
Pacific Gas & Electric Co. of California.—Acquisitions.—
The company, it is announced, has purchased the lighting
plants and water-supply stations situated at Wheatland,
Lincoln, Davis, Roseville, Cordelia, Elmira, Winters, Dixon,
Rio. Vista and Benicia, Cal.
Most, if not all, of these local plants have for some years past been buying
the company's current, as, for instance, the Dixon Light & Water Co.,
the Solfano Gas & El. Co. of Benicia, &c.; Lincoln El. P. Co., Davis Lt. &
Water Co.. Rio Vista El. Lt. & P. Co.—V. 90. p. 1677.
Peoria Railway & Terminal Co.—Sale of Income Bonds.—
F. J. Lisman & Co., who in Nov. 1909 asked for the deposit
of Peoria Ry. Terminal income bonds (V. 89, p. 1281), have
disposed of all the securities at a price satisfactory to the
bondholders.—V. 89, p. 1281.
Quebec Railway, Light, Heat & Power Co.—Fully Listed
in Paris.—The company's shares were on July 7 placed on
the regular list "en Banque de Paris." See full particulars
V. 91, p. 95.
Rates.—The following are recent changes, &c.:
Freight Rates.—Voluntartly Suspended to Nov. 1.—Chairman Knapp of
the Inter-State Commerce Commission on July 20 announced: "It being
understood that the Commission would exercise its authority under the
new law and suspend all general and important rate advances made for
the purpose of increasing revenue, the principal carriers in official classification territory [including all roads in central territory and east of Chicago.—Ed.], through a committee appointed for that purpose, proposed
to-day voluntarily to postpone the effective date [from Aug. 1.—Ed.] of
such advanced rates until Nov. 1 next, and an arrangement to that effect
was made after a conference with the Commission. This will not delay
investigation and decision as to the reasonableness of the proposed advances, but will obviate the necessity at this time for numerous suspension
orders which otherwise would be made."
The Western trunk lines yesterday agreed to a similar suspension, which
course Is expected to be followed generally by the roads that have filed
notices of increase of rates.
A large number of tariffs, most of them making advances in freight rates
to take effect Aug. 10 to 15, were filed last week In the office of the Public
Service Commission, Second District. These include an advance In carload rates of lc. per 100 lbs. on grain and grain products between points In
the State by the roads in the New York Central and Erie systems, by the
Lehigh Valley, Lackawanna, Buffalo Rochester & Pittsburgh, and others,
advances in amounts ranging from 31c. to 2c. per 100 lbs. on numerous lowgrade commodities, and Increases In class rates. The taking effect of some
of the rates, as well as those published to take effect Aug. 1, may, it is
stated, be suspended on account of the relation they bear to rates applying
to Inter-State commerce, which have been suspended by the Inter-State
Commerce Commission pending investigation.
Passenger Rates.—The committee representing objecting New Jersey
commuters on lines running out of New York decided this week not to
attempt to prevent through the courts the increased rates from going into
effect. The rates became operative on July 20.
The Texas Legislature at its special session which began July 19, it Is
reported, will be asked by Gov. Campbell to pass a 2-cent rate law. The
present rate is 2 cents, unsuccessful efforts having been made at the last
regular and special sessions to reduce the same to 2 cents as per the Governor's recommendations.
The New York New Haven & Hartford announces that after to-day
passengers using mileage tickets to or from New York will be required to
surrender two extra coupons, the addition of four cents being made to
provide for a terminal charge on account of the Increased expense of maintaining the new Grand Central terminal. This appears to have been the
reason for the increase of five cents In single-trip tickets a few weeks ago.
—V. 91, p. 155, 39.
Southern Indiana Ry.—Coupon Payment.—The committee
of holders of 1st M. 4% bonds Anton G. Hodenpyl, Chair' July 18 that the Court has
man, announces by circular dated
directed the receiver to deposit with the Bankers' Trust Co.,
N. Y., the funds to pay the installment of interest due Aug. 1
1909, together with one year's interest thereon at 6% 'per
annum, in all $21 20 per bond.
Coupons attached to bonds deposited under the protective agreement will
be presented for payment by the depositaries, and on and after Aug. 1 1910
each depositor will receive the amount collected upon the bonds deposited
by him, upon presenting or mailing his certificate of deposit direct to the
depositary which issued it; that is, to the Bankers' Trust Co., New York;
the Girard Trust Co., Philadelphia. or to the American Trust Co., Boston,
as the case may be.—V. 91, p. 155.
Virginian Ry.—Agreement for Equipment.—The company
has filed at Norfolk, Va., an agreement for the purchase of
1,000 steel gondola ears at $1,177 each from the Pressed
Steel Car Co., Pittsburgh. Pa. This covers the cars ordered
March 14. No equipment bonds have yet been issued on
account of the purchase.—V. 89, p. 1224.
Wabash-Pittsburgh Terminal Ry.—New Committee Agreement.—The new committee for the protection of the interests
of the first mortgage bondholders are preparing an agreement
which will be ready probably next week. The names of this
committee were given in the "Chronicle" issue of July 2,
p. 39. Deposits will be asked under the agreement of both
the bonds and the Wallace committee certificates of deposit.
—V. 91, p. 96.
216
THE CHRONICLE
Wages.-The following are recent developments:
Pennsylvania Strike Settlement.-The Pennsylvania RR. announced on
July18 that,at a conference that day betweenGeneral Manager Myers and
the committees representing the trainmen and conductors on the lines
east of Pittsburgh, the men accepted the General Manager's proposition,
which in substance was that the company would put into effect working
conditions, including a minimum day, as detailed in the New York Central
award, leaving the company's high rates stand, but not increasing them
by making the ten-hour day apply to the rates which were made to fit an
eleven and twelve-hour day. It is thought it may take about another week
to arrange the necessary details and adjustments. Officials are quoted
as claiming that the settlement will not increase the wage account.
On the lines west of Pittsburgh. on which the men also voted in favor
of a strike unless their demands were complied with (see "Financial Situation," page 117, in last week's issue), many items remain to be harmonized
and a longer time may be necessary to arrive at an amicable adjustment.
Grand Trunk of Canada Strike.-The conductors, trainmen and yardmen
on the entire Grand Trunk system, including the Central Vermont and the
Michigan lines, were called out in a strike for higher wages at 9:30 p. m.
Monday, resulting for several days in a complete tieing-up of freight but
not of passenger traffic. Strike-breakers are being employed and company
has begun to handle freight and hopes soon to have same moving freely.
The strike, it is said, affects 4,500 men on the Grand Trunk, 350 on the
Central Vermont and 350 men called out on the Wabash line between
Buffalo and Windsor,which runs over the Grand Trunk tracks. The company offered to give an increase of approximately 18% with the further
promise of the same standard rate of pay as the Canadian Pacific as soon as
the Grand Trunk through its relation with the Grand Trunk Pacific is in a
position to participate in the higher rates obtaining on traffic in the Northwest, which it was agreed would be not later than Jan. 1 1913, or earlier
If the Board of Railway Commissioners, on hearing the facts should so
determine. This and the further offer of the company of arbitration by
a board of railway experts was refused by the men, who, however, yesterday
accepted the suggeston of Canadian Minister of Labor King for arbitration
by a board to be named by the Government. The company's answer to
the Government's proposition, sent by mall, had not been made public
up to yesterday afternoon.
Canadian Pacific-Increase of Wages.-An agreement, it is stated, has
been reached between the Canadian Pacific and its trainmen and conductors under which the company will recognize the standard rate for the
territory east of Chicago as paid by United States roads. This was the
principal contention. This amounts, it is reported, to about a 45% increase in the scale. Settlement is retroactive to May 1.-V. 91. p. 96.
Delaware Fe Hudson Co.-Officials of the company on July 20 refused to
compromise with representatives of the striking section laborers and foremen, Involving about 1,200 men. It is said the company has More applications than places to be filled. The laborers asked 17 instead of 15 cents
an hour and the foremen an increase of $5 to $10 per month.
Pennsylvania Coal Strike Settled.-The mine workers of the Pennsylvania
Coal Co. (about 12,000 in number), who had been on strike for three weeks,
returned to work on June 8.
Republic Iron & Steel Co. Settlement.-An agreement was reached this
week with the Amalgamated Association on the wage scale for the coming
year. Puddlers will receive $6 12 35 on a 1.45c. card, representing anadvance of 50c. from the 1909 basis; on busheling the advances range from
7 Mc. to 37 35c. a ton, and to finishers the Increases are from 3 35 to 4.7%.
V. 91, p. 96. A new scale, It is expected, will be signed shortly between
the Amalgamated Ass'n and the Western Bar Iron Ass'n.-V. 91, p. 98.
[VoL. Lxxxxi.
Org. Feb. 17 1908. Auth. capital, pref., $2,500,000; common, $12,500,000.
Issued to Dec. 1 1909: Pref., 17,511 shares; common, 101,798
shares; shares $100 each. Pref. stock is 6% unlimited but not cumulative;
must receive 6% before common can receive anything, but can never receive less than the common. Bond issue, $2,000,000, dated June 1 1908;
6%; 12 years; coupons J. & D.; sinking fund from June 1 1910, annually,
6% on all bonds out; bonds payable at option of holder after June 1914
on 60 days' notice at 94; and callable by company at 106. Southern Trust
Co., Los Angeles, trustee. Par, $1,000, $500 and $100. Bonds out
$700,000.
Has paid dividends from the 8th month of its existence: (a) quarteriy.
on both pref. and common, No. 1 [at annual rate of], 6% on pref.
and 2%
on common; No. 2, 6% on pref. and 4% on common; thereafter 6% on all
stock alike. (b) Monthly beginning Nov. 1 1909 at 12% per annum.
First oil sold from Niles June 1908; from Coalinga, Nov. 1908. Total
sales thus far, $925,826. Total expenditures for land, permanent developments, operations, &c., $3,774,322.
Property.-(a) At Coalinga, Fresno County, Cal., substantially 1,400
acres of best oil-bearing land in California, underlaid by four strata of rich
oil sand below the surface from 1,000 to 2,400 feet, estimated oil per acre,
60,000 to 136,000 bbis., or 85,000.000 bbls. on the whole property. Ten
flowing and 8 pumping wells, which have produced for several months an
average of over 600 bbls. each per day. Twelve wells are now drilling and
12 more proejeted for the near future. Has four 55,000 bbl. steel tanks,
eight 1,250-bbl. tanks. (b) 90% of stock of Niles Lease Co., operating 80
acres of oil land near Sherman Junction, 9 miles west of Los Angeles.
Lease has nearly 19 years yet to run. Eight producing wells, mostly pump
ng; two 30,000-bbl. tanks. (c) 25% of stock of Grador 011 Co. (capital
$250,000) and 22% of stock of McDor Oil Co. (capital $100,000), both
drilling on adjoining land but not yet producing for market.
The producing territory is only a tenth part drilled,the life-time of each
well is probably 30 years, and at least 10,000 barrels per day of oil is sold
for five years to come at prices practically fixed, averaging about 58 cts.
per bbl.-V. 91. v. 96.
American Sugar Refining Co., New York.-New Secretary.
-Assistant General Counsel Joseph E. Freeman has been
elected Secretary, to succeed C. R. Heike, who resigned on
June 14.-V. 90, p. 1679.
American Telephone & Telegraph Co.-Control Purchase.
-See Michigan State Telephone Co. below.-V.91, p. 150.
Anaconda Copper Mining Co.-Boston dc Montana Increases Dividend.-The Boston & Montana has declared a
quarterly dividend of $2 per share (8%) and $2 extra on its
$3,750,000 stock, an increase of $1 per quarter over recent
dividends. The announcement states that the dividend was
paid out of money received from the company's holdings of
Anaconda stock.-V. 90, p. 1557.
Armour & Co. (Packers), Chicago.-Indictment.-The
United States Grand Jury before Judge Speer in the Federal
Court at Savannah, Ga., on April 30 returned an indictment
Western Pacific Ry.-Opening of Passenger Service.-The charging violation of Sherman Anti-Trust Law againstdate of Aug. 22 has been officially announced for the opening
Armour & Co., Cudahy & Co., Schwarzschild & Sulzberger Beef Co.,
Swift & Co. and the Nelson Morris Co., as corporations, and their local
of the new Western Pacific to through passenger traffic, managers.
dependent on the delivery by the Pullman Co. of the steel
It is charged that between June 10 and Aug. 1 1908, the defendants
effected a combination whereby they fixed arbitrarily non-competitive and
coaches and by the American Car & Foundry Co. of the steel exorbitant
prices for meats, thus eliminating natural competition which
baggage and express cars, which are six months in arrears.
should exist between them; also that the packing houses bought and
H. M. Adams, Freight Traffic Manager, is reported as saying that the
new line is in excellent condition and is moving freight on regular schedule.
The principal towns in California reached by the new line are Oroville,
Marysville, Sacramento, Oakland, Stockton, Lathrop, Niles and San
Francisco -V. 90, p. 772.
slaughtered live stock at various points in the West and North, shipped
fresh meats to Savannah, reduced the price of meats and sold them on the
market at a loss, so as to compel the South Atlantic Packing & Provision
Co. of Savannah to sell its product at a loss for the purpose of forcing the
local house out of the field.-V. 90. v. 370.
Wheeling & Lake Erie RR.-Receiver's Certificates.-Judge
Tayler in the United States Circuit Court has authorized
receiver Worthington to issue receiver's certificates to the
amount of $188,500 to complete the Brewster shops. The
receiver's request for permission to issue an additional
$220,000 certificates for purchase of tools, construction of
stations, &c. was refused by the Court. The new issue will
'by Kuhn, Loeb & Co. and Blair & Co. Perbe purchased
mission was granted to extend for one year $107,350 certificates due July 1 1910 and to extend for two months $234,000
due Sept. 1 1910.-V. 91, p. 96, 40.
Beech Creek Coal & Coke Co.-June Coupon Paid.-The
coupon on the company's bonds, which was not met at
maturity on June 1, is now being paid with interest ($25 18
each coupon) at the Knickerbocker Trust Co. (compare
Penn. Beech Creek & Eastern Coal Co. in V. 87, p. 483.)V. 83, p. 438.
Bucks Stove & Range 0o.-Unions Recognized.-It was
announced this week that the company has entered into an
arrangement with the national labor organizations to employ
members thereof in their business. James W. Van Cleave,
President of the company, who fought for about six years
for the open shop, died on May 15 last.
Whether or not the cases now pending in the Supreme Court against cerINDUSTRIAL, GAS AND MISCELLANEOUS.
tain of the officers of the American Federation of Labor for contempt, for
violating
court orders, are to be dropped remains to be seen. Compare
Amalgamated Copper Co.-Reports Filed in Montana.- V.88, p. 688.
The "Engineering & Mining Journal" on June 23 published
Columbus & Hocking Coal & Iron Co.-Exchange-Dethe following resume of the reports for the year 1909-10 filed
posits.-Holders.vf certificates of deposit for common stock
with the Montana authorities:
who desire to exchange temporary certificates for the enReports of Butte Mines for Years ending June 1 191).
graved certificates listed on the N. Y. Stock Exchange
Boston &
Butte &
North
Anaconda. Montana.
can effect the exchange at the Bankers' Trust Co., 7 Wall St.
Boston.Butte.
Tons of ore extracted
1,372,402
1,291,346
377,106
430,124 Further deposits also may be made with the
committee
Gross proceeds
$11,158,517 $13,125,554 $3,707,264 $4,217,604 through the aforesaid trust company.
-V.91, p. 156.
Cost of mining
5,558,527
4,263,538 1,265,946 1,612,921
Freight on ore
165,973
813,639
72,669
51,614
Federal
Telephone
&
Telegraph
Co.-Merger.-The comCost of reduction
2,845,861
3,579,893
948,924 1,798,407
pany on July 20 filed in the office of the Secretary of State
Cost of marketing
1,273,294
1,001,644
380,453
Albany,
N.
Y.,
a
certificate
that
it
at
had merged the followTotal cost
$9,843,657 $10,168,761 $2,667,994 $3,462,943
Net earnings (year '09-'10) $1,314,860 $2,956,792 $1,039,270 $754,681 ing companies, of which it owned all of the capital stock:
Net earnings (year '08-'09)
2,079,871
1,404,783
646,198 1,839,442
Red MetalTrenton.
Washoe. Parrott. Coalition. Alice.
150,867
88,418
Tons of ore extracted_
203,50
547,463
1,415
$1,334,224 $1,549,640 $652,093 $4,839,126 $17,320
Gross proceeds
649,896
785,728 532,962 2,007,771 20,701
Cost of mining
18,328
24,516
12,164
Freight on ore
101,355
301,692
416,290 180,505 2,034,616
Cost of reduction
129,214
151,000
74,958
Cost of marketing
$1,099,132 $1,377,535 $800,589 $4,143,743
Total cost
$172,105 '148,496
Net carns.(yr.'09-'10) $235,092
$695,382 *$3,381
136,898
153,444 '12,221
Net earns.(yr.'08-'09)
'Deficit. (Compare V.89.0.283; V. 90. D. 1550. 1551, 1552.)-V.90.p.1550
American Caramel Co.-Dividends on Common Resumed.A dividend of 4% has been declared on the $1,000,000 common stock, payable in quarterly installments of 1% each,
beginning Sept. 1. This is the first common dividend since
1908.
Previous Dividend Record (Per Cent).
1899. 1900.
1901. 1902. 1903-1904. 1905. 1906.
8
None.
4 35
3
4
4
43'i
-V. 88, p. 880.
1907. 1908.
8
7j,
'American Petroleum Co. of California.-Status Dec. 11909.
-The dividend rate has been temporarily reduced from
12% to 8%,as stated in V.91, p. 96. An official circular
issued Dec. 1 1909 said in substance:
Corning, Watkins, Ithaca, Springville, Manilla, Canisteo,
Wellsville.
Hornellsville telephone companies; Conewango Valley Home
Telephone Co..
Cohocton Valley Telephone & Telegraph Co., Eima Telephone
Exchange,
Citizens' Telephone co. of Bath, Attica Home Telephone Co.,
Citizens'
Telephone Co. of Akron, N. Y., and the Valley Telephone Co.
The certificate is signed by Bert G. Hubbell as President
of the Federal Company.
(B.F.) Goodrich Co., Akron,0.-New Stock-Dividends.The shareholders will meet Aug. 24 to vote on increasing the
capital stock from $10,000,000 (all of one class and all outstanding, par $100; V. 81, p. 510) to $20,000,000 by' the
creation of $10,000,000 7% pref. stock, of which $5,000,000,
it is reported, will be issued as a 50% stock dividend and the
remainder will be offered at par to stockholders of record.
A press report states that the company has declared a regular dividend of 2% and an extra dividend of 2% on its
$10,000,000 stock.-V. 84, p. 162.
Goodyear Tire & Rubber Co. Akron, 0.-New StockCompany to Manufacture Specialties as well as Tires.-The
company, it is announced, proposes to increase its authorized
issue of common stock from $1,000,000 to $4,000,000; there
is also outstanding $1,000,000 7% cum, pref. "Cleveland
Finance" says:
11/
JULY 23 1910.
217
THE CHRONICLE
The factory already is being enlarged to take care of the increasing
business, but the reason of the increase of capital is to put up more buildings
on the present site. When the contemplated additions are made the company will manufacture specialties on a large scale. Its present output is
confined almost entirely to Ural. The output is 1,500 tires a day and the
contemplated output will be approximately 2,500. The company's advertising agent states that the new stock will be offered in about $1,000,000
lots -V. 89, p. 473.
Guanajuato (Mex.) Power & Electric Co. Colorado
Springs, Col.-Final Payment on Accumulated Dividends.This company, which began on Nov. 1 1908 paying regular
quarterly dividends of 13/2% each on its $1,500,000 6%
cumulative pref. stock, made in April last a distribution of
common stock to represent accumulated dividends to the
extent of 35%,and will on Aug. 1 make a cash payment of
2 3-10%, being the regular 13/2% quarterly and an additional
8-10% in final settlement of the arrears. Compare V. 90,
p. 1104, 1169.
J. M. Guffey Petroleum Co.-Company Stated to Have No
Connection with Receivership of Col. Guffey.-The business
affairs of Col. James M. Guffey were on July 15 placed in the
hands of John S. Willard of Pittsburgh as receiver by Common Pleas Court No. 4 at Pittsburgh, on application by John
H. Galey, one of Mr. Guffey's creditors and a former business partner. Col. Guffey's assets are estimated at $17,000,000; his liabilities at less than $7,000,000. The receivership
papers state that Col. Guffey is perhaps the largest holder of
West Virginia coal lands in the country,his unsold holdings in
that State alone being 136,700 acres; but that he is without
the ready money to meet the claims of some of his creditors.
Col. Guffey is quoted:
My assets are more than double the amount of my obligations. I don't
expect the receivership to continue any great length of time. I have properties of great value, and it is only a question of being permitted to dispose
of them without sacrifice to pay all my obligations.
"Does this proceeding have any connection with the J. M. Guffey Petroleum Co.?" he was asked.
whatever
"None whatever; it is a personal matter, and has no relation
now some years
to any of the affairs of the J. M. Guffey Petroleum Co. It is having
disposed
since I had any interest or connection with that company,
of my interests to the Gulf 011 Corporation."-V.86, p. 605.
A portion of Property A has been worked for about 9 years, the plant is
well maintained and is adequate for the exploitation of the property.
Properties B and C have not yet been worked and are virgin oil land. The
Imperial and Thirty-three Oil companies commenced operations in 1900
on Property A. From 1900 to Dec. 31 1909 the production from a portion
of the property alone totaled 17,981,730 barrels, of which 921,446 were consumed as fuel. The total production for the year 1909 from Property A
(Section 33) was 1995,534 barrels and of this amount 207,134 barrels
were consumed as fuel.
The proceeds of 1,035,000 of the shares now offered will be used exclusively in acquiring the properties and for general purposes, 100,000 shares
will be allotted as fully paid to the vendor syndicate in part payment of
the purchase price; the remaining 200,000 shares are reserved for future
Issue, subject to the options herein mentioned.
Directors: R. C. Baker (managing director of Borax Consolidated Ltd.);
G. W. Hoghton, W. Parish Robertson and L. Sutro, all of London. Advisory Committee in California: L. Guggenhlme (Pres. Thirty-three Oil Co.),
A. Mack (Pres. City Electric Co.), J. J. Mack (Pres. Imperial 011 Co.), all
of San Francisco. Secretary and registered offices, R. H. Young, 9 New
Broad St., London E.C.
Keystone Telephone Co.-Report.-Year ending June 30:
Fiscal
Year1909-10
1908-09
Gross
Earnings.
$1,126,030
1.073,462
Net over
Taxes, ctc.
$567,952
542,453
Interest
Charges.
$302,775
312,308
Balance,
Surplus.
$265,177
230,145
Kings County Electric Light & Power Co.-Earnings.
For the six months ending June 30:
Gross
Six
Earnings.
Mos.
1910 _ _$2,107,060
1909 __ 1,840,996
-V. 90, p. 1428.
Balance.
Bond Depreciation Interest
Net
Earnings. Discount. Charges. on Bonds,&c.Surplus,
$1,100,948 $10,134 $243,522 $357,041 $499,251
440,190
966,259
304,509
10,134
211,426
Lord & Taylor, New York.-New Stock.-The shareholders
on July 20 authorized the issue of $1,000,000 8% cum. pref.
stock, the capitalization to be $2,500,000 first pref. 6%
cum., $1,000,000 2d pref. 8% cum. and $3,000,000 common
stock, par $100. The new stock, it is said, was purchased
by the !hilted Dry Goods Co. Compare V. 91, p. 41, 157.
Luzerne County (Pa.) Gas & Electric CO.-Merger.
There have been merged into the company the Gas Co. of
Wyoming Valley, the Gas Co. of the South Side, the Dallas
Electric Co. and the Dallas Township Electric Co.
The merger resulted In no Increase of capitalization, stock or bonds.
There are now outstanding $2,000,000 Luz,erne County Gas & El. Co. stock
(par $100) and $499,000 of its gold consol. mtge. 53. (Total auth. Issue,
$3,500,000, dated Oct. 1 1908 and due Oct. 1 1948, but redeemable, It Is
stated, after Sept. 30 1913 at 105 and int.; Int. A. do 0. at Girard Tr. Co.,
trustee, Phila.; some $1,106,000 consols are reserved to retire underlying
bonds.) Pres., M. W.Stroud;Sec. & Treas., W.T. Robinson; Asst. Treas.,
W. L. Fox, Am. Gas Co., Phila., owns control, but does not guar. the
bonds. See V. 88, p. 628.
Imperial Oil Co.-Merger.-See Kern River Oil Fields
below.-V. 85, p. 225.
International Lead Co.-New Company.-The company,
incorporated in New Jersey in May 1909 with $1,500,000
authorized stock (all of one class), par of shares $100), of
Lynn (Mass.) Gas & Electric Co.-Consolidation.-The
which $1,250,000 is outstanding, has a plant at Bayonne, Massachusetts Gas & Electric Light Commission has authorof
Capacity
lead.
dry
in
oil
and
lead
ng
manufacturi
J.,
N.
ized the absorption of the Marblehead Gas Co. by the explant about 7 tons daily. No bonds. Officers are:
change of its $20,000 stock for $2,500 stock (8 shares for 1)
an
be
to
(said
G.
Robinson
President, John W. Bailey; Secretary, Harry
of the Lynn Co., valued at $235 a share.
Newhouse); Treasurer. John Josten.
associate of Samuel
Inter-State Gas Oo. of Pittsburgh.-Change in Control.A press report from Huntington, W. Va., on July 15 announced the consummation of a deal for the sale of this company, a West Virginia corporation (capital stock reported as
$1,000,000) owning a large number of producing gas wells in
Lincoln County, W. Va., to the United Fuel Gas Co.(V. 90,
p. 853), a subsidiary of the Ohio Fuel Supply Co. (see "Annual Reports"), and hence considered a subsidiary of the
Standard Oil Co.
(George W.) Jackson, Inc., Chicago.-Bonds Offered.Farson Son & Co., N. Y. and Chicago, who recently offered
basis this company's $400,000 1st M. gold 6s,
on a
unconditionally guaranteed, p. & i., by George W. Jackson,
have issued a circular giving the following particulars:
Pref. stock authorized, $1,000,000; outstanding, $666,300. Common
bonds authorized, $500,000; bonds
stock auth. and outstanding, $2,000,000;since
its formation has paid divioutstanding, $400,000. The company
7% per annum and at the rate of
of
rate
the
at
stock
pref.
dends upon the
for the past year and a half.
4% per annum upon its common stock
upon the entire property, which
These bonds are secured by a 1st mtge.
Elston Ave. Mendel St. and Chicago
Includes: (a) 7g acres, situated onlarge
new steel buildings equipped with
River (600 ft. frontage), with four machinery.
The company recently remodern steel structural fabricating
business alone. (b) Jackson
fused an offer of $750,000 for this plant and
(Chicago Warehouse
Boulevard (154-156) real estate, office and warehouse
(c) Jackson Boulevard (153-155) real
& Terminal Co.), $180,300.
$134,148. d Disestate, brass foundry and machinery department,
system, $224,850. [This plant,
posal plant connecting with Illinois Tunnel
In transporting
is
useful
Michigan,
Lake
on
scows
In connection with
connection with building and
materials, supplies, waste products, &c., inbuildings
at 73d and Bond Ave.,
estateand
Real
(e)
-Ed.]
operations.
other
making total assets securing
costing $45,000, and various other properties,
the bonds $1,402,770.
and in this conneccontracting,
general
is
company
the
of
business
The
plant, one of the largest
tion they operate a bridge and structural steel
covering an area of 7 X acres;
single plants of its kind in the United States,
and machinery departannual capacity, 50,000 tons. The brass foundry
ment is prepared to enter into contracts for brass, bronze and aluminum
manufacture and repairing
castings of every description, as well as for the lbs.
8,000
Throughout the West
of machinery of all kinds; daily capacity.
George W. Jackson, Inc.
there is no larger or better known firm than the
of contracts of various kinds
To date they have handled over $60,000,000
contracts. Net earnand have on hand now over $6,000,00014uncompleted
times the annual interest requireings for the last three years are aboutindebtedness.
V. 91, p. 41.
only
Compare
the
bonds,
of
issue
this
of
ments
Kern River Oilfields of California, Ltd.-Merger Under
English Act.-This company was recently incorporated
under the English Companies Act with £1,350,000 share
capital in shares of £1 each, of which £1,050,000 was offered
for subscription in London last April at par. An advertisement said in substance:
and assets of the Im
Formed to acquire as a going concern the property
(both producing companies),
penal 011 Co. and the Thirty-three 011 Co.
Keith & Mack Oil Co; all incorand the under-mentioned oil land of the
situated in Kern County, southporated in California. The properties are
33, comprising 640 acres of freehold
ern California, as follows: (a) Sectionfreehold
land; (c) parts of sections 19
of
acres
638
about
1,
Section
land: (b)
(d) all the wells, buildings,
and 25, comprising 840 acres of freehold land;
machine shops, storage
plant, engines, boilers, pipe lines, drilling outfits,
the
Thirty-three 011 Co. and of
of
assets
all
other
and
wagons
tanks, horses,
cash and book debts.
than
other
County
the Imperial 011 Co. in Kern
accounts of the said comThe value of the plant, as shown by the audited
31
1909 $778,523. All
Dec.
on
was
depreciation
for
allowing
panies after
the said freehold properties are situated in the Kern River oilfield.
In addition, the company has authority to Issue $30,000 stock to retire
debts of the Marblehead Co. ($10,000 bonds and $22,185 notes and bills
payable) and to Improve its property. The new stock, not yet issued, will
Increase the outstanding stock of the Lynn Gas do El. Co. to $1,182,500;
par $100.-V. 86, p. 1103.
Manufacturers' Light & Heat Co. of Pittsburgh, Pa.
Report of Committee.-The committee, consisting of M. R.
Trauerman, Chairman; H. B. McDowell, Sec. and Treas.;
Thos.B.Nuttall, J. Howard Smiley,C.F. Lufkin and Herbert
A. Johns, appointed at the annual meeting Feb. 22 1910 to
investigate the action of the directors in the matter of depreciation (see resolution of board below), reports under date
of Pittsburgh, July 1, in part as follows:
Depreciation.-We have Investigated the subject of the depreciation
charge as best we could, considering the great period It covers. We 11nd
nothing to indicate that the auditors were not warranted in arriving at
their conclusions (except we fall to find an actual appraisement of assets
on which such deductions are based), and believe that It will prove to the
best interests of all concerned for the amount of the write-off to remain as
they have fixed It.
Management.-We discover no lack of harmony among the directors,
comand we believe that they are honestly endeavoring to administerItthe
so far as appears
pany's affairs for the best interests of the stockholders,the
vast Interests of
Possible for the board as now constituted. Primarily
the company require immediately an executive head whose whole time
reshould be given to the company and for which he should be properly
munerated. It appears that subordinates in the field are in some Instances
be
reorganized.
should
force
incompetent or neglectful; the actual
Books.-A general set of books should be kept showing the profit and loss
and accounts of the whole corporation, including its subsidiaries.
Metres.-Attention should be paid to the metres, as It Is commonly reported that there is a large amount of gas used and not recorded or paid for,
thereby causing a loss of many millions of feet of gas and hundreds of
thousands of dollars.
Finances.-We are convinced that the agreement with the Colonial Trust
Co., dated Dec. 20 1906, whereby the floating debt was taken care of, was
absolutely imperative. The Trust Co. received a commission of $400,000,
probably in accord with the risk at that time. On Oct. 1 1909 an additional
of then
agreement was made by which the plan was changed, and Instead
to reduce
reducing the floating debt by $700,000 each year It was agreed
only
extends
agreement
this
later
While
1912.
until
the debt by $200,000
1912,
the time of ultimate payment of the floating debt, originally due Jan.1
to Oct. 1 1912, the Trust Co. received an additional bonus of $135,000,
necessity
the
plainly
suggesting
but
l:
an amount ]possibly inconsequentia
of a more vigorous financial management.
comOutlook.-Notwlthstandlng the mismanagement of the past, the quesThere Is no
pany is rapidly recovering its proper financial standing. Properly
financed
tion as to its vast fields of consumption and supply.
there is no reason that we can see why dividends may not be soon forthcoming. Its total debt, bonds and otherwise, seems to be nearing a point where
a refunding may be successfully undertaken. Its properties and franchises
are
are of vastly greater value than all the indebtedness. The earnings
company has in
large and increasing nicely. While It is evident that thecost,
the study of
below
the past sold millions of feet of gas at cost, or evenresulting
in a proper rethis subject by the board as now constituted is
organization of both sales department and contracts.
Condensed Resolution of Board of Directors Feb. 1 1910.
off each year depreciaWhereas (1) it has not been the'practice to charge
(2) it has been agreed that
tion, although it has been known to occur.
for depreciation for the two years
there should be charged off $5,780,761
that hereafter a percentage
1907 and 1908, and (3) It has been determined
at the end of each year:
should be charged off for depreciation
for
and
1909
that
hereafter until otherwise
resolved
It
be
therefore
Now
follows: Against
ordered there shall be charged off annual depreciation asand
meters, 4%;
6%; from gas regulators
pipe lines, pipe rigs and lines,telephone
and office
lines,
buildings
boilers,
materials,
other
from fittings,
stations, water stafurniture, 5%; wells, 8%; machinery, casing, pressuremiscellaneous,
tions, horses and vehicles, tools and supplies, and depreciation of 10%;
all of
labor, hauling, rights of way and damages, an annual
the amount invested for the year.-V.91, p. 157.
218
THE CHRONICLE
Massachusetts Gas Companies, Boston.-Earnings of
Controlled Companies.-Net earnings of the subsidiary companies for June and the year ending June 30:
June
Year end. June 301910.
1909.
1909-10.
1908-09.
$109,977 $108,093 $1,297,981 $1,197,031
Boston Consolidated Gas
58,952
New England Gas & Coke
58,468
620,619
518,467
2,986
East Boston Gas
4,291
64,793
77,940
New England Coal & Coke
15,758
16,949
57,279
256,586
Citizens' Gas Lt. Co. of Quincy
1,702 def.354
8,576 def.3,662
Newtown &Watertown Gas L.Co,
3,201
57,785
Total
-V. 90, p. 1617.
$102,577 $187,445 $2,107,033 $2,046,362
Michigan State Telephone Co.-Control Purchased by
American Telephone & Telegraph Co.-The individual members of the firm of N. W. Harris & Co., who were the owners
of a majority of the $3,500,000 common stock, have accepted
an offer to exchange their holdings for stock of the American
Telephone ez Telegraph Co. on the basis of 4 shares of American stock for each 5 shares of Michigan common (now paying
7% dividends). The same terms are offered for all common
shares endorsed in blank for transfer and deposited with
N. W. Harris & Co. on or before Aug. 10.
In adjustment of dividends all Michigan common stock deposited on or
before Aug. 10 will receive 50 cts. per share In cash at once, while the
American stock issued in exchange will receive the regular quarterly dividend of 2% on Oct. 15. Holders who for any good reason cannot deposit
their stock before Aug. 10, but who shall do so before Aug. 31, will receive
the Sept. 1 Michigan dividend and may exchange their stock on paying
$1 25 a share. To avoid fractional shares the firm will buy Michigan fractions at $112 per share or sell American fractions at $140 a share. Compare V. 91, p. 37.
[VoL.
Annual Earnings-Year Ending Oct. 31 1909-Estimate within Two Years of
New Operation and After Erection of New Gas Central Plant,
Year 1908-09. Estimate'
Gross receipts
$90,430 $143,000
Oper. exp., including salaries, insurance and taxes_ ___ 36,300
71,500
Net
$54,130
$71,500
As the fixed charges of the $700,000 new bonds Is only $35,000, taking
last year's figures under old management, there will be a surplus of $19,130.
Nearly all of the earnings have been from the electric light and power plant
alone, the output of gas being less than 5,000,000 cu. ft. The gas business
Is almost a virgin field, and In the first year, with completion of new plant,
we should have a total output of 20,000,000 cu. ft.; the second year, say,
30,000,000 Cu. ft.; the third year, 40,000,000 cu. ft.; and for the fourth
year 50,000,000 cu. ft.
Territory Served.-Shamokin Is situated In the centre of Eastern Pennsylvania, and every year Is growing in importance as a distributing point for
the rich farming community to the South, West and North, and anthracite
mining districts to the East; increase of population, 1890 to 1900 of 26%.
Present population, over 20,000, and with suburban population a total of
40,000. Company has contracts with borough of Shamokin for electric
lighting having over 7 years yet to run and a contract with Shamokin &
Edgewood Electric Ry. Co. having still a life of nine years.
Directors.-Frank P. Llewellyn, Pres. (Pres. Dime Trust ec Safe Deposit
Co., Shamokin, Pa.); Robert E. Robinson, Vice-Pres.; L. D. Maltble, Sec.
& Treas.; and Edwin E. Witherby, Gen. Mgr., all of New York. Edward
M. Leader, Monroe H. Kulp (Pres. Shamokin & Edgewood Elec. Ry.),
Shamokin, Pa.; John Richardson Jr. Wilmington, Del.; S. Wynne
Ffoulkes and Howard M. Van Court, Philadelphia,
Pennsylvania Sugar Refining Co.-Settlement of Receiver's
Accounts.-Judge Willson at Philadelphia on July 18 passed
upon the accounts of Geo. H. Earle as receiver.
The fees paid to various attorneys out of the $570,520 remaining of the
amount received from the American Sugar Refining Co. after certain
payments aggregate $185,739. The amount available after payment of
all expenses will, It Is said, be about $180,000. It is reported that an
attempt will be made to bring about the early resumption of the plant.
-V. 90, p. 307.
National Lead Co.-Dividend Reduced.-A quarterly diviPhiladelphia Suburban Gas & Electric Co.-Merger.3 of 1% has been declared on the $20,750,000 comdend of %
have recently been merged into the company the
mon stock, payable Oct. 1 to holders of record Sept. 9, com- There
quarterly from July 1907 to July 1910, North Penn. Gas Light, the Lansdale & North Wales Gas
paring with 14%
1
Co. and the Pottstown Light, Heat & Power Co.
inclusive, and 1% from July 1906 to April 1907 inclusive.
There has been no increase in capitalization, stock or bonds by the merger.
Previous Dividend Record.(Per Cent).
Year- '94. '95, '96. '97. '98-'00. '01-'05. '06. '07. '08. '09. 1910.
2 4A 5
0
Per cent__ 3
1
0
0 1 y'ly.
5 ToJuly,3
President Cole says:
The Phila. Sub. G. 86 E. has Issued $4,250,000 stock (par $100) and $1,673,000 1st & ref. 5s, guar. by Am. Gas Co. Pres., W. W. Stroud; Sec.-Treas.,
W.T. Robinson; Asst. Treas., W.L. Fox, 222 So. 3d St., Phila. -gee V. 90,
p. 563.
San Antonio (Tex.) Water Supply Co.-Control by Belgian
Corporation.-Subscriptions were received during June in
Brussels and Antwerp for stock and bonds of the "Cornpagnie
des Eaux de San Antonio," a Belgian corporation which
was organized last February and purchased from the MisNew Haven (Conn.) Hotel Co.-New Enterprise-Stock sissippi Valley Trust Co. $1,350,000 of the $1,500,000 capital
Offer.-This company has been organized under Conn. laws stock (par $100) of the San Antonio Water Supply Co.
Iglan company is organized with 40,000 shares of capital stock,
to erect on the site of the old New Haven House and adjacent parTh100Bfrancs
(total face value,
francs, say, $800,000); 40,000
property a high-class, fireproof hotel of artistic design, con- 'actions de dividende" having no4,000,000
par value, and 8,000 5% bonds of 500
francs each (in all 4,000,000 francs, say, $800,000), redeemable by sinking
taining about 300 guest bedrooms, &c.• also rathskeller,. fund
not exceeding par on or before Feb. 16 1940; int. F. & A. 15. The
banquet hall, roof garden, rooms for small
'banquets, society publicatoffering
consisted of 24,000 shares of stock and 6,000 "actions de
dinners, &c. The financial plan calls for a 5% 1st M. loan divldende" and 4,000 bonds on the basis of (a) 4 shares of stock and one
de dividefide" for 420 francs; (b) one bond, par 500 francs, for 485
of $800,000 and $1,000,000 of authorized capital stock, "action
francs. The net profits of the local company, after deducting all fixed
present issue to be $800,000, more than $500,000 of which charges, were In 1909 $98,210; in 1908, $70,272. Among the directors of
the Belgian company are Baron van Eetvelde of Brussels and Breckinridge
has already been subscribed at par. F. S. Butterworth of Jones
of pt. Louis.
New Haven is President and his firm as fiscal agents are
Shamokin & Coal Township Light, Heat & Power Co.placing the stock.
See Pennsylvania Lighting Co. above.-V. 88, p. 1065.
Estimated Annual Income Statement Prepared by F. M. Andrews of N. Y.
Sierra & San Francisco Power Co.-Bonds All Sold.283 bedrooms, 300 days. average $2 50 per day, $212,100; service
and public bar, $37,500; news and cigar stand privilege, $12,000;
N. W. Harris & Co. and associates announce that they have
3 stores, $9,000; billiard room, $5,000; convention hall, $2,500;
sold all of the $6,500,000 1st M. 5% gold bonds offered by
barber shop, manicure and bootblack, $1,800; telephone, telegraph, taxicab and transfer service, $4,800; total
$284,700 them last week. See V. 91, p. 157.
Deduct-Interest 5% 1st M., $40,000; taxes, water and insurance,
$20,000; maintenance and repair, $15,000; advertising, $3,600;
Steel Co. of Canada, Ltd., Hamilton, Ont.-Official Statefuel and engine room supplies, $40,000; stationery and incidentals,
$5,000; pay-roll, exclusive of eating department, $51,000; total_ 154,600 ment.-Pres. C. S. Wilcox in a letter addressed to the Royal
Securities Corporation, Ltd., Montreal, June 13, said:
dividends and retirement of 1st M.
Regarding the cut In the common dividend rate, the small, diminishing
trade and the high price for linseed oil, which will undoubtedly become permanent, has tended to diminish the profits of the company and has justified
the directors In anticipating a lesser net revenue.
As to independent International Lead Co. see that Co. above.--V. 90,
p. 975.
loan_$130,000
Estimated available for
Eight per cent on $1,000,000 stock calls for $80,000, leaving an annual
surplus of $50,000 to be applied to sinking fund for 1st M. loan. In the
foregoing operating expense the cafe and restaurant service is estimated as
self-sup-porting and no profit therefrom is taken into consideration. [New
Haven is estimated to have a population of from 130,000 to 135,000, but
it has never had a modern hotel such as is now projected.]
Nova Scotia Steel & Coal Co.-Purchase ofForget Holdings.
-A syndicate headed by President Robert Harris, it is
announced, has purchased the holdings of the Forget syndicate, amounting to more than 20,000 shares of the stock.V. 90, p. 1487.
Pennsylvania Beech Creek & Eastern Coal Co.-See Beech
Creek Coal & Coke Co. above.-V. 87, p. 483.
Pennsylvania Lighting Co., Shamokin, &c., Pa.-Consolidation-Bonds Offered.-R. E. Robinson & Co., New York
and Philadelphia, and Chandler Bros. & Co., Philadelphia
and Boston, are placing at 96 and int., Srielding about 5.30%
income, the unsold portion (less than half) of the present
issue of $700,000 first mtge. 5% sinking fund gold bonds,
dated July 1 1910 and due July 11940, but redeemable at
105 and int. on and after July 1 1915. Interest J. & J. at
office of trustee, Commercial Trust Co. of Philadelphia. Par
$1,000 (c*). Free of Pennsylvania State tax.
Abstract of Letter from Pres. Frank P. Llewellyn, Shamokin, July 1 1910,
Organization.-Recently incorporated under the laws of Pennsylvania.
Through merger agreement of Shamokin & Coal Township Light, Heat &
Power Co. (V. 88, p. 1065) Coal Township Gas Co. and Coal Township
Light, Heat & Power Co., controls the lighting business, both electric and
gas, in Shamokin and vicinity.
Authorized.
CapitalizationIssued.
$1,000,000 $1,0
200:0
Common stock
00
000
200,000
Preferred stock
2,500,000
First mortgage 5% sinking fund gold bonds
700,000
Sinking fund each year after 1915 a sum equal to 1% of all bonds out.
The bonds are a first mortgage upon all property, rights and franchises
now owned or hereafter acquired; no underlying liens. Additional bonds
cannot be issued to provide funds for further improvements, extensions and
new construction unless the net earnings for 12 mos. preceding issuance
show 1 A times the bond interest, including bonds proposed to pe issued.
Substantial equity in cash represented by preferred stock.
The electric light plant Is in first-class condition. The new central gas
works, funds for which are being provided, will be of the best construction
and most modern equipment. Franchises without time limit to supply
electricity In and about borough of Shamokin; gas franchises In same
territory for 99 years from 1907. No burdensome restrictions.
Bonds.-Total authorized issue, $10,000,000, but after $7,500,000 have
been issued further bonds shall be Issued only to the extent of two-thirds
of the appraised value of new fixed assets and only on certificate to the trustee under resolution of the directors that the net earnings exceed three times
the annual interest charge, including the intended issue, the net earnings
during the first three years to be the earnings of the preceding year and
afterwards the average earnings of the three preceding years.
Assets.-The combined fixed assets of all the constituent companies
owned or controlled will amount to more than $10,000,000 and the combined net liquid assets to more than $3,350,000.
Earnings.-The combined average annual net earnings of four companies
for their last three fiscal years after providing for depreciation and as submitted to their respective shareholders were during 1907-08, $940,709;
1908-09, $1,122,668; 1909-10, $1,752,493. The earnings of the Montreal
Rolling Mills Co. included in total for 1909-10, are for 11 months only.
The average yearly earnings, exclusive of the Canada Bolt & Nut Co., Ltd.,
thus amount to $1,291,917, being over three times the annual interest on
the bonds to be issued and, taking the last year only, to over four times.
The Canada Bolt & Nut Co., Ltd., was only organized in January
1910-a consolidation of Toronto Bolt & Forging Co., Brantford Screw Co.,
Gananoque Bolt Co. and Belleville Iron & Horseshoe Co.,and Its earnings
from the commencement of operation to Mch. 31 1010 justify an estimated
net profit for the current year of at least $180,000. It has been thought
more conservative, however, not to consider this result In the aggregate
earnings, but rather to offset it against the average annual amount paid
by way of bounties to the Hamilton Steel & Iron Co., Ltd. • These bounties
are of uncertain duration. None of the other cos, has received bounties.
The earnings of the Montreal Rolling Mills Co. Included In the foregoing
are before providing $30,000 interest on $500,000 of outstanding bonds.
Plants.-(a) Hamilton Steel & Iron Co., Ltd. (estab. 1896), at Hamilton,
Ont., on about 100 acres of land on water front, with ample wharfage and
railway facilities, and two blast furnaces, open-hearth steel furnaces, rolling
mills, &c.;(b) Montreal Rolling Mills Co. (estab. 1868), three modern plants
In heart of manufacturing centre of Montreal. Shipping facilities by both
rail and water. (c) Canada Screw Co., Ltd. (estab. 1866), plant at Hamilton on 8 acres of land, modern mill construction and equipment. (d) Dominion Wire Mfg. Co., Ltd. (estab. 1883), fully equipped plant at Lachine,
near Montreal, on Lachine Canal, occupying over 16 acres, good shipping
facilities by rail and water. (e) Canada Bolt eo Nut Co., Ltd.(estab. 1910).
six plants in Toronto, Brantford, Belleville and Gananoque, Province of
Ontario: 33 acres, excellent transportation facilities, buildings of concrete,
brick or steel, modern machinery. The products of the combined companies consist of pig iron, open-hearth steel, bar iron and steel and shapes,
forgings, locomotive and car axles, track spikes, bolts, nuts, rivets, horseshoes, wrought-Iron pipe and fittings, wire and cut nails, tacks, wood screws
and other screws of all kinds, iron, steel, brass, copper and bronze wire, &c.
[A dispatch to the Royal Securities Corp. on July 15 said: "London
underwriting, taken $2,239,000; public subscriptions, $779,000; total bonds
taken, $3,018,000, out of $4,500,000; results considered highly satisfactory."
See also V. 91, p. 157.(
Stock Quotation Telegraph Co., New York.-$2,500,000
New Stock Proposed-To Rescind Consent to $1,000,000 Mortgage.-The shareholders will vote Aug. 3 on authorizing an
increase of capital stock from $500,000 to $3,000,000 and on
JULY 23 1910.1
THE CHRONICLE
rescinding the consent heretofore given by the stockholders
to mortgage the property, privileges and franchises to secure
an issue of $1,000,000 bonds. Compare V. 89, p. 925, 1286.
United Gas Improvement Co., Philadelphia.-See Charleston (S. C.) Consolidated Ry. & Lighting Co. under "Railroads" above.-V. 90, p. 1682, 1236.
United States Bobbin & Shuttle Co.-Dividends on Common Resumed.-A dividend of 1% has been declared on the
0
$1,001,000 common stock, along with the regular 137
quarterly dividend on the $650,000 pref. stock, both payable
Aug. 1 to holders of record July 20. This is the first dividend
on the common stock since May 1908, when M of 1% was
paid, 1% having been disbursed quarterly prior to that time
from Feb. 1905, with 1% extra in Nov. of 1906 and 1907.
Compare V. 87, p. 292.-V. 88, p. 372.
United States Envelope Co.-New Director.-Willard E.
Swift was on July 20 elected a director to succeed his uncle,
the late G. Wheeler Swift.-V. 90, p. 975.
United States Glass Co., Pittsburgh.-New Director.William M. Anderson has been elected a director in place of
H. D. W. English, who resigned.-V.89, p.1600.
United States Steel Corporation.-Wire Prices.-This
company's subsidiary, the American Steel & Wire Co., announced this week an adjustment of prices for wire nails
and plain wire. The "Iron Age" says:
The announcement of the $1 70 basis for wire nails and $1 50 for plain
wire in the past week does not represent a $3 per ton reduction, as has been
that
stated in some quarters, but rather amounts to a formal notification
on the new basis buyers may safely contract for a time. Prices recently
current have been in some cases within $1 a ton of the new figures.-V.90,
p. 1018, 1495.
219
_ he T.ontmerciai
COMMERCIAL EPITOME.
Friday Night, July 22 1910.
Some slackening of general trade is noticeable,owing mainly
to a desire to await further developments in the crop and railroad rate situations. Reportsfromthe spring-wheatregions have
on the whole continued unfavorable, but harvesting returns
from the winter-wheat States are very satisfactory and the
weather over the cotton and corn belts has latterly improved.
LARD on the spot has been easier, owing to larger receipts of live hogs at times, dulness of trade and somewhat
larger offerings of product. Prime Western 12c., Middle
Western 11.75c. and City steam 113c. Refined lard has
also declined, with trade extremely dull. Refined Continent 12.50c., South America 13.25c. and Brazil in kegs
14.25c. The speculation in lard futures has been active,
with prices irregular. Increased hog receipts and the dulness on the spot have caused heavy selling at times, partly
by large packers. On the other hand firmness of the corn
market and the upward tendency in live hogs have caused
buying.
DAILY CLOSING PRICES OF LARD FUTURES IN NEW YORK.
Thurs. Fri.
Wed.
Tues.
Mon.
Sat.
11.70
11.60
11.80
11.65
11.50
11.83
July delivery
12.12
12.03
12.00
_12.05
.._
11.85
12.00
delivery_
September
DAILY CLOSING PRICES OF LARD FUTURES IN CHICAGO.
Thurs. Fri.
Wed.
Tues.
Mon.
Sat.
11.62% 11.7235 11.75
11.55
11.80
11.60
July delivery
September delivery_ __ _11.70
11.7235 11.5735 11.7235 11.7735 11.80
PORK on the spot has been firm, with trade quiet and supplies light. Mess $25 50@$26, clear $24 50@$26 and famFinancial
ily $25@$26 50. Beef has been quiet but firm on small
Washington (D. 0.) Gas Light Co.-Report of
Plan Premature.-Regarding the talk of a financial plan, a stocks. Mess $15@$16, packet $16@$17, family $19 50 and
extra India mess $30. Cut meats have ruled steady with
Washington banking firm writes:
The articles which have been published are merely the expressions of the trade quiet. Pickled hams, regular, 15/ ®163
/c.• pickled
directors at their recent meeting. No official circular has been issued,
®184c. Talplan for the re- bellies, clear, 18 ®18Me.,and pickled ribs 18
and from the best obtainable information no very definite
several
It
but
Is
reached,
presumed
been
financing of this company has yet
low has been quiet but firmer; city 7c. Stearines have been in
definite plans will be submitted to the stockholders at the proposed meetyears been endeavoring moderate demand and firm; oleo 9%c. and lard 14c. Buting in September. This company has for several
bonded
re-arrange
to
its
way
some
in
or
extras 27M®
to make an additional stock issue
from ter has been more active and easier; creamery
debt in order that stockholders may be given some material benefit
273.c. Cheese has been quiet and easier; State, whole,
the surplus held In the treasury, and for which the company has no apparwere
but
the
tried
through
courts,
/0. Eggs have been quiet
ent future need. Several plans were
milk, colored or white, fancy, 143
defeated by the Corporation Counsel on the plea of over-capitalization,
and snore recently an extended Congressional Inquiry developed the fact and firmer; Western firsts 18 ®19c.
than
that the total capital, both stock and bonds, was considerably smaller
OIL.-Linseed has advanced. Serious damage to the
the actual valuation of the plant and Its earning capacity based upon the
is reported and it is believed that
sale of gas at a reasonable price. Therefore, it Is now believed no real oppo- crop at the Northwest
sition will develop to a plan whereby the company mayre-arrange its capital still higher quotations will be recorded in the near future.
In both stock and bonds to an amount equal to what is termed a fair valua- Receipts have been light. Demand for product has been
tion of plant, franchise and Investments.-V.90, p. 451.
more active. City, raw, American seed, 87® 88c.; boiled
West St. Louis Water & Light Co.-New Stock.-This 88®89c.; Calcutta steady at 90c. Cottonseed has been
company, in a certificate which places its assets at $2,013,871 firmer and more active; winter 8.50@9.50e.; summer white
and liabilities at $1,114,835, announces an increase of capital 8.25®10c. Lard has been quiet and firm; prime $10
stock from $1,000,000 (all common) to $1,200,000, the in- $1 04; No. 1 extra, 62®63c. Cocoanut has been dull and
crease being $200,000 7% pref., which was sold to the com- easier; Cochin 10®10%c.; Ceylon 8%®9c. Olive has been
mon shareholders. Par ot all shares, $100. Bonded debt, dull and easier at 70®75e. Corn has been quiet and firmer
$1,000,000. J. R. Cullinane, 600 Delmar Ave., St. Louis, at 6.45®6.50c. Cod has been firm and in good demand;
is Secretary and Manager.-V. 75, p. 687; V. 78, p. 1558.
domestic 40(4)42o.; Newfoundland 43®45c.
COFFEE on the spot has been quiet and firm. Rio No.7,
-J.S. & W. S. Kuhn, Inc., of Pittsburgh, Pa., one of the 8%®84c.; Santos No. 4, 9%(4)93(c. West India growths
largest and most active bond houses in this country, are ad- have been quiet and generally steady; fair to good Cucuta
vertising in this issue of the "Chronicle" the unsold portion
%
3 c. The speculation in future contracts has been
of $300,000 Chester, Pa., 432% general improvement bonds, 10®10
active. Fluctuations in prices have not been
moderately
one-third to mature each five years in 1915, 1920 and 1925. very marked but the general trend of the market has been
These bonds, offered at a price to net the investor 4.10%, upward, owing to a rising tendency in the European marare tax-free in Pennsylvania and are stated to be legal in- kets,
weather with frost in parts of Brazil, reduced estivestment for savings banks in Pennsylvania, Massachusetts, matescold
of
the
crop in that country and light offerings. Local
See
Connecticut, Rhode Island, Maine and New Jersey.
interests
have given the market support at times and
spot
descriptive
the advertisement for particulars. The firm's
houses
have bought to some extent. There has
commission
5%
circular of tax-exempt municipal bonds yielding 4 to
from near to distant positions.
switching
some
been
corporation
Also
a
new list of
will be mailed on application.
Closing prices were as follows:
bonds which return a 53i to 6% income, and include railroad, July
7.110.
7.000. March
8.850. November
7.10.
7.05c. April
6.900. December
irrigation, water works, traction and other public utility August
7.170.
May
7.08c.
January
6.950.
September
the
request.
Address
offices
nearest
issues, will be sent on
7.180.
7.100. June
6.950. February
October
of the firm in Pittsburgh, Philadelphia, Boston, New York
-Raw has been more active and firmer. CenSUGAR.
or Chicago.
trifugal, 96-degrees test, 4.36c.; muscovado, 89-degrees test,
-Charles W. Taintor and Albert Hale have formed a 3.86c.; molasses, 89-degrees test, 3.61c. Refined has been
partnership under the name of Taintor, Hale & Co., for the quiet and steady; granulated 5-15o. Spices have been in
purpose of dealing in investment securities, with offices at moderate demand and firm. Wool steady with increased
35 Congress St., Boston. Mr. Taintor was formerly a sales. Hops quiet and steady; crop reports favorable.
member of the firm of Tucker, Hayes & Co. and Mr. Hale
PETROLEUM.-Refined has been in moderate demand
was for many years in charge of the bond department of for export,but domestic trade has been of small proportions.
Parkinson & Burr.
Prices have been steady. Refined barrels 7.65o., bulk 4.15c.
-White, Weld & Co., bankers, 5 Nassau St., New York, and cases 10.05e. Gasoline has been in good demand and
and The Rookery, Chicago, are to-day offering at a specially steady; 86-degrees in 100-gallon drums 18%c.; drums $8 50
attractive price $250,000 Lehigh & Wilkes-Barre Goal Co. extra. Naphtha has been moderately active and steady;
consol. intge. 4% bonds. These bonds are guaranteed, 73®76-degress in 100-gallon drums 16%c.; drums $8 50
principal and interest, by the Central RR. of N. J. and are extra. Spirits of turpentine quiet but stronger at 72 ®723,60.
tax-free in Pennsylvania. See advertisement elsewhere in Rosin quiet and firmer; common to good strained $5 70.
the "Chronicle" for further information.
TOBACCO.-There have been no new or interesting de-"Index of Corporate Stock Values" is the title of a velopments in the local market for domestic leaf during the
weekly sheet published by A. Keshishian, 99 John St. It week. Manufacturers generally report trade quiet, and
gives for the leading corporations the ratio of earnings to they are buying leaf sparingly as a rule. Havana and Sudividend requirements, the rate of dividend paid, the yield matra in moderate request. Prices have ruled firm.
COPPER has been firmer and more active, owing to reat market price, range of price from panic of 1907, &c., &c.
-James N. Wright & Co., Denver, Col., have issued an ports of activity in the London market. Lake 12% ®12%c.;
8 ®12Mc.• casting 123c. Lead has been
/
interesting booklet describing Western town, water and electrolytic 123
power bonds yielding 53,- to 63/2%, which they recommend quiet and steady at 4.42i4®4.50c. Spelter has been quiet
and steady at 5.15@5.60e. Tin has been quiet but firmer;
as safe and conservative investments.
trade in
-Curtis & Sanger, 49 Wall St., have a list of July invest- spot 33.50c. Iron has been steady with a quiet Southern
75; No. 2
ments ready which will be mailed on request to all interested small lots; No. 1 Northern $16 25 ®$16
been in good departies. Address G. E. N. Townsend Jr., manager of the $15 75@$16. Structural material has
mand for domestic and export account.
New York office.
220
THE CHRONICLE
COTTON.
Receipts at-
Sat.
Mon.
Tues.
Wed.
On Shipboard, Not Cleared for.
Great
GerOther CoastBritain. France many. Foreign wise. Total.
July 22 at
Friday Night, July 22 1910.
THE MOVEMENT OF THE CROP as indicated by our
telegrams from the South to-night is given below. For the
week ending this evening the total receipts have reached
56,422 bales, against 36,580 bales last week and 21,571
bales the previous week, making the total receipts since
Sept. 1 1909 7,216,305 bales, against 9,770,326 bales
for the same period of 1908-09, showing a decrease since
Sept. 1 1909 of 2,554,021 bales.
Thurs.
Fri.
[VOL. I.XXXN
New Orleans__
Galveston ____
Savannah ____
Charleston_ _ _ _
Mobile
Norfolk
New York_ _ _ _
Other ports
94
____
____
____
Leaving
Stock.
61
698
150
----
181
____
____
____
3,064
5U
3,915
48,999
____
1,071
1,761
2,472
____
5.0C10
5,15()
1,424
353
---- - ____
5i.'
5'77
736
--------7,102 7,102
1,106
5,500
,
-------15,000
143,616
100 ----------------- ----100
7,534
----------------- ----Total 1910....
5,694
1,681
8,909 3,064 14,063 33,411 206,240
Total 1900_ 10,817 9,113 4,380 18,224
7,290 49,829 251,346
Total 190R
16.707 11 And 1R RAA
4.674
9.036 61.705 170.709
Total.
Speculation in cotton for future delivery has been more
active. The course of prices has been irregular, but the
666 1,665 2,6774 3,666 1,615
665 9,553 trend of the general list has been upward. July, however, is
..
lower for the week, and on one day, Tuesday, the 19th inst.,
1,C131
2,0o8
38
2
78
3,237 a break occurred
Pensacola
in that month of 81 points, though part of
_
294
Jacksonville, &c.
----------------------3
3 the loss has since been recovered. The violent fall in July
Savannah
61-7 1,276 4,666 1,42-7 1,71-15
2,043 11,779 was due to the
circulation of reports that the bull leaders
Brunswick
Charleston
9
-'ibi
-566 1-J49 -664 --"76 1,654 had sold out and that the deal was a thing of the past.
Georgetown
These
reports
were
followed by aggressive hammering by
Wilmington _ _ _ _
----------------------15
15
Norfolk
1,356 4,977 5,788 2,954 3,076
1,292 19,443 local interests and the uncovering of stop orders, not only in
N'port News, &c
but
also
July
in
later
months. Leading interests denied
New York
-6773
.
145
295 2,5577 1,1477 2,144 6-,648
Boston____
____
____
2
44 emphatically, however, that there was any truth in the
Baltimore
____
__
------ 927_
927 reports regarding their position in the market, and certainly
Philadelphia_
they have given open support not only to July but also to
----Total week__ _
4.667 10.530 13.963 11.844 7.908 7.4201 56.422 ..,August, and to some
extent to September and October.
The following shows the week's total receipts, the total Heavy rains have occurred in parts of the Eastern belt and
since Sept. 1 1909, and the stocks to-night, compared with reports from some sections have been unfavorable. Complaints have been received of a rank growth of the plant and
last year:
a grassy condition of the fields, and though many here
believe that no permanent injury has as yet occurred, there
1909-10.
1908-09.
Stock.
Receipts to
has nevertheless been more or less buying on these advices
July 22.
This Since Sep This Since Sep
by both local traders and commission houses. Purchasing
Week. 1 1909. Week. 1 1908.
1910.
1909.
of the distant months by spinners has been something of a
Galveston
1,653 2,468,353 6,967 3,598,997
4,241
19,600 feature of the trading
of late. Continental spinners in parPort Arthur
142,381
152,759
Corp. Christi, &c.
____
ticular have been good buyers recently. Rather more
72,058
246 153,836
New Orleans ____
9,525 1,298,699 5,549 2,081,354
52,914
83,613 cheerful reports as to the
condition of trade in Manchester
Gulfport
8,992
20,221
Mobile
3,237 250,027
1,416 381,627
1,111
9,657 and on the Continent have been received. The local dry
Pensacola
294 138,104
163,997
goods market has been more active at an advance in quotaJacksonville, &c_
3
39,493
____
29,748
Savannah
11,779 1,342,024
2,618 1,494,261
6,574
22,812 tions for some descriptions. There is said to be a dearth
Brunswick
____ 229,426
____ 319,847
211 of supplies of some popular brands
3,323
of fabrics, revealing the
Charleston
2,854 223,284
5 209,723
353
3,185 effects
of the heavy curtailment of production. Complaints
Georgetown
1,576
____
2,649
Wilmington
15 312,468
186
19 409,196
105 have been received from Texas of insufficient moisture, while
Norfolk
19.443 535,212
338 588,863
8,208
7,236 temperatures
in that State have at times been extremely high.
N'port News, &c.
18,789
__
284
18,175
New York
6,648
38,905
____
19,101 158,616 143,201 There is some expectation that the next monthly GovernBoston
44
14,110
1,979
4,431 ment
18,998
6
report may show some decline in the condition since
Baltimore
'
0,508
1,200
4,127
270 100,055
Philadelphia ---------1,
___
896
946
379
2,902 the last statement was issued. As already intimated, how6,919
ever, reactions in prices have occurred. Room traders have
Note.-4,959 bales deducted from receipts at Galveston as revision of hammered at times, encouraged by improved weather in
receipts since Sept. 1.
many parts of the belt and also by unfavorable reports
In order that comparison may be made with other years, regarding the condition of general trade. The certificated
stock here is steadily increasing. A large quantity of cotton
we give below the totals at leading ports for six seasons:
has been received here during the week, much of it, it is
Receipts at1910.
1909.
1908.
1907.
supposed, being for delivery on July contracts. The cotton
1906.
1905.
- has arrived
from all sections of this country and also from
Galveston
1,653
_
6,967
12,567
3,984
4,790
34,526
Pt.Arthur,&c.
_Liverpool. Further large receipts are expected in the near
246
116
New Orleans_
9,525
5,549
5,836
1,279
9,086
19,109 future. Not a few regard
the situation as artificial. It is
Mobile
3,237
1,416
. 585
88
1,667
1,195
Savannah _ _ _
11,779
2,618
1,355
20,109 stated that leading bulls are disposing of their holdings of
1,102
8,619
Brunswick_
1,288 spot cotton at from 100 to 150 points under the ruling official
Charleston,&c
2,854
5
251
89
682
817
Wilmington_ _
15
19
94
51
128
2,910 quotations. The weather in most parts of the South has
Norfolk
19,443
338
714
723
3,326
10,607 been more favorable of late. Where rains have occurred in
N'port N., doc
284
198
463
All others_ __ _
7,916
655
1,645
516
2,124
6,139 the Eastern belt the precipitation has been widely scattered.
In Texas the temperatures have fallen and beneficial showers
18,097
Total this wk_
56,422
23,047
8,030
30,538
97,193 have occurred
at times. Many of the crop reports from that
Since Sept. 1_ 7,216,305 9,770,326 8,193,
State and Oklahoma, and also from some sections east of the
The exports for the week ending this evening reach a total Mississippi, have been very encouraging. Spot markets.at
of 22,049 bales, of which 8,550 were to Great Britain, the South have been dull. To-day the market was quiet
4,166 to France and 9,333 to the rest of the Continent. and irregular. Early in the session a moderate decline
occurred on disappointing Liverpool advices, favorable
Below are the exports for the week and since Sept. 11909:
weather and crop reports and liquidation. Later a rally
ensued, especially on the next crop, on bull support, buying
Week ending July 22 1910. From Sept. 1 1909 to July 22 1910.
Exported toExported toby spinners and covering of shorts. July notices for about
Exports
25,000 bales were issued. They were stopped by the bull
fromGreat
ContiGreat
ContiBritain. Fr'ncel nent. Total. Britain. France. nent.
Total.
clique. Spot cotton here has been easier. Middling closed
Galve3ton_ _ _ _
1,458 1,458 715,532377,722 958,9782,052,232 at 16c., a decline for the week of 40 points.
Port Arthur_
25,883 18,398
98,100 142,381
The official quotation for middling upland cotton in the
Corp.ChristiAc
16,975
16,975
New Orleans__ 4,339 1,258 2,693 8,300 576,334 188,806 403,4561,168,595 New York market each day for the past week has been:
Mobile
39,348 74,601
40,942
Galveston
Port Arthur..
Corp. Christ!, ecc
New Orleans_ _ _
Gulfport
e
ort
”
.........1
231
302
405
WA Afift M 040 0014
utro,aa
Peniac,)la
_
Gulfport
Savannah - - - Brunswick_ _
Chariest-NI_ _
Wilmington_ _ _
Norfolk
Newport News)
_
New York__
4,180 2,898
Boston
31
I
Baltimore
i
Philadelphia
Portland, Me_
San Franclsco_.
Seattle
Tacoma
Portland, Ore.•
Pembtfla
Detroit
294
284
40 nn., n nnf. oon
.10.1JUI V,/ fl/...1GO
204
4,518
70
11,666
-56-
-566
101
431
Oon ani
1,653
Onl ion
154,891
48,950 54,674
40,455 144,079
7,818
1,074
8,892
240,311 83.991 446,957 771,259
87,045 5,496
99,041 191,582
16,901
101,095 117,996
100,69 15,700 182,205 298,595
4,863
1,756
6,619
329,526 74,231
97,99
18,563 7,896
45,281
427
169,780 573,537
11,406 109,396
31,054
57,513
17,247
62,528
427
59,862 59,862
29,04
29,040
4,404
4,401
20
200
600
600
_
Total
' 8,550 4,166 9,333 22,049 2,355,462901,515 2,7- 14,6275,971,604
•
Total 1908-09_ 12,312 3.9301 7,148 23,39 3,502,3641031983 3,759,9668,294,313
In addition to above exports, our telegrams to-night also
give us the following amounts of cotton on shipboard, not
cleared, at the ports named. We add similar figures for
New York.
July 16 to July 22Middling uplands
Sat.
16.40
Mon. Tues. Wed. Thurs. Fri.
16.45
15.95
16.10
16.00
16.00
NEW YORK QUOTATIONS FOR 32 YEARS.
1910_c
1909
1908
1907
1908
1905
1904
1903
16.00
12.20
10.90
12.95
11.00
11.00
10.90
13.25
1902_c
1901
1900
1899
1898
1897
1896
1895
9.25
8.44
10.00
6.19
6.08
7.94
7.12
7.00
1894_0
1893
1892
1891
1890
1889
1888
1887
7.06
8.12
7.25
8.00
12.44
11.19
10.68
10.38
1886..c
1885
1884
1883
1882
1881
1880
1879
9.56
10.19
11.00
10.00
12.75
11.68
11.68
11.62
MARKET AND SALES AT NEW YORK.
Spot Market
Closed.
Saturday_ _ Quiet
Monday_ _ _ Qulet 5 pts adv _ _ _ _
Tuesday -- Quiet 50 pts dec.. _ _ _
Wednesday Quiet 15 pts adv _ _
Thursday _ Quiet at 10 pts dec _
Friday_ ___ Quiet
Total
Futures
Market
Closed.
Sales of Spot and Contract.
Con- Con.Spot. sum'n. tract.
Total.
Firm
Firm
2,511
Barely steady
400
Very steady _
300
Very steady _
845
Very steady _
200
13,400 15,911
2,700 3,100
2,500 2,800
9,800 10,645
10,800 11,000
4,256
____ 39,200 43,456
t
i
221
THE CHRONICLE
JuLY 23 1910.1
1
AT THE INTERIOR TOWNS the movement-that is,
FUTURES.-The highest, lowest and closing prices at
the receipts for the week and Since Sept. 1, the shipments
New York the past week have been as follows:
for the week and the stocks to-night, and the same items for
t..
::.
0 ;,),
b
e..
.t1
,
ta
the corresponding period for the previous year-is set out
in detail below.
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THE VISIBLE SUPPLY OF COTTON to-night, as
WO.00.
41..
.N.C.00..
made up by cable and telegraph, is as follows. Foreign
Cl*,
100V00.7...
,
06
.
00
.61
stocks, as well as the afloat, are this week's returns, and
imwoo-ioo.p..tv
09, c.-4.4.omeacetve.i.00mme4-acen,
commoo.ocaom0000nl&e.noommcnommoorea
consequently all foreign figures are brought down to Thursday evening. But to make the total the complete figThe above totals show that the interior stocks have deures for to-night (Friday), we add the item of exports creased during the week 24,398 bales and are to-night 44,895
from the United States, including in it the exports of Friday bales less than at the same time last year. The receipts
only.
at all the towns have been 11,295 bales more than the same
1907.
1908.
1909.
1910.
July 22weektlastlyear.
967,000
997,000
490,000
bales. 458,000
Stock at Liverpool
27,000
10,000
16,000
8,000
OVERLAND MOVEMENTTFOR THE WEEK AND
Stock at London
72,000
61,000
68,000
42,000
Stock at Manchester
SINCE SEPT. 1.-We give below a statement showing
561,000 1,066,000 the overland movement for the week and since Sept. 1, as
508,000 1,081,000
Total Great Britain stock
14,000
24,000
12,000
14,000
Stock at Hamburg
reports Friday night. The results
229,000 made up from telegraphic
289,000
263,000
137,000
Stock at Bremen
175,000 for the week and since Sept. 1 in the last two years are as
140,000
214,000
119,000
Stock at Havre
3,000
5,000
3,000
3,000
Marseilles
at
Stock
23,000 follows:
34,000
27,000
13,000
Barcelona
Stock at
Stock at Genoa
Stock at Trieste
Total Continental stocks
Total European stocks
India cotton afloat for Europe_ .. _
American cotton afloat for Europe
Egypt,Brazil,&c.,aflt.for Europe_
Stook in Alexandria, Egypt
Stock in Bombay, India
Stock in U. S. ports
Stock in U. S. Interior towns
U. S. exports to-day
90,000
9,000
25,000
7,000
17,000
20,000
26,000
40,000
315,000
551,000
529,000
510,000
823,000 1,632,000 1,090,000 1,576,000
141,000
86,000
64,000
103,000
62,283
74,568
70,939
100,634
18,000
19,000
7,000
16,000
52,000
62,000
85,000
90,000
590,000
318,000 402,000 697,000
302,317
239,651
301,170
232,414
123,465
78,570
141,017
106,482
464
2,173
1,977,789 2,640,269 2,133,543 2,955,546
Total visible supply
Of the above, totals of American and other descriptions are as follows:
Americanbales. 366,000 905,000 378,000 838,000
Liverpool stock
60,000
54,000
34,000
49,000
Manchester stock
504,000 445,000 415,000
255,000
Continental stock
62,283
100,634
74,568
70,939
American afloat for Europe
302,317
301,170
239,651
232,414
U. S. port stocks
106,482
123,465
141,017
78,570
U.S. Interior stocks
464
2,173
U. S. exports to-day
Total American
East Indian, Brazil, &c.
Liverpool stock
London stock
Manchester stock
Continental stock
India afloat for Europe
Egypt, Brazil, &c., afloat
Stock in Alexandria, Egypt
Stock in Bombay, India
Total East India, &c
Total American
1,047,789 1,988,269 1,318,543 1,784,546
92,000
8,000
8,000
60,000
103,000
7,000
62,000
590,000
92,000
16,000
14,000
47,000
64,000
16,000
85,000
318,000
112,000
10,000
12,000
84,000
86,000
19,000
90,000
402,000
129,000
27,000
12,000
95,000
141,000
18,000
52,000
697,000
930,000 652,000 815,000 1,171,000
1,047,789 1,988,269 1,318,543 1,784,546
Total visible supply
1,977,789 2,640,269 2,133,543 2,955,546
6.48d.
7.16d.
5.98d.
7.97d.
Middling Upland, Liverpool
12.35c.
10.80c,
13.000.
Middling Upland, New York_ _ _16.00c.
8 Md.
11 %d.
Egypt, Good Brown, Liverpool_.: 12d. 9 11-16d.
9.15d.
11.50d.
Peruvian, Rough Good, Liverpool 11.00d. ' 8.25d.
65(d.
6 Md. 57-16d.
Broach, Fine, Liverpool
7 Hd.
54d.
Tinnevelly, Good, Liverpool_ __ _ 7 1-16d, 5 13-16d. 5 1-16d.
July 22ShippedVia St. Louis
Via Cairo
Via Rock Island
Via Louisville
Via Cincinnati
Via Virginia ports
Via other routes, &c
Total gross 2verland
Deduct ShipmentsOverland to N. Y., Boston, &c_
Between interior towns
Inland, &c., from South
----1909-10---Since
Week. Sept. 1.
10,598 449,532
181,498
669
19,915
131,055
9,386
47,840
713
136,494
1,042
154,246
216
----1908-09---Since
Week. Sept. 1.
1,859 666,532
513 304,638
30,633
39
85,210
365
49,486
235
186,357
588
497 277,065
22,624 1,120,580
4,096 1,599,921
7,619
311
4,537
135,419
62,846
76,856
655
499
1,040
145,073
48,775
54,247
248,095
Total to be deducted
12,467
275,121
2.194
Leaving total net overland*
10,157
845,459
1,902 1,351,826
'Including movement by rail to Canada.
The foregoing shows the week's net overland movement
has been 10,157 bales, against 1,902 bales for the week
last year, and that for the season to date the aggregate net
overland exhibits a decrease from a year ago of 506,367 bales.
-1909-10
Since
/n Sight and Spinners'
Sept. 1.
Week.
Takings.
56,422 7,216.305
Receipts at ports to July 22
845,459
10,157
Net overland to July 22
South'n consumption to July 22_ _ 34,000 2,242,000
1908 09
Since
Sept. 1.
Week.
18,097 9,770,326
1,902 1,351.826
52,000 2,284,000
100,579 10,303,764
z4,593
•24,398
71,999 13,406,152
9,459
*13,713
Total marketed_ _ _ _.,,
Interior stocks in excess
Came into sight during week_ _ _ 76,181
____ 10.299,171
Total in sight July 22
58,286
2,137,101
9,848
North'n spinn's' taking to July 22 23,717
13,415,611
2,725,933
'Decrease during week. x Less than Sept. 1.
Movement into sight in previous years:
Week1908-July
1907-July
1906-July
1905-July
25
26
27
28
Bales.
53,527
49,564
69,232
133,489
Since Sept. 11907-08--July 25
1906-07-July 26
1905-06-July 27
1904-05-July 28
Bales.
11,202,511
13,229,879
10,834,325
13.148,997
Continental imports for the past week have been 71,000
bales.
QUOTATIONSWOR MIDDLING COTTON AT OTHER
The above figures for 1910 show a decrease from last week
of 122,049 bales, a loss of 662,480 bales from 1909, MARKETS.-Below are the closing quotations of middling
a decrease of 155,754 bales from 1908, and a loss of 967,757 cotton at Southern and other principal cotton markets for
ach day of the week.
bales from 1907.
THE CHRONICLE
222
[VoL. Lxxxxi.
Holdenville, Oklahoma.—We have had no rain during the
week. The thermometer has ranged from 59 to 97, averaging 78.
14'%
14 %
14 %
14 x
14(
Galveston
14%
Marlow, Oklahoma.—We have had no rain during the
15 1-16 15 3-16 15 3-16 15 3-16 15
New Orleans
15
14 15-16 14 15-16 14 15-16 14%
14Y
14%
week. The thermometer has averaged 81, the highest
Mobile
15°%
15%
15'%
15%
15'%
Savannah
15'%
being 99 and the lowest 62.
Charleston
Wilmington-------Oklahoma, Oklahoma.—There has been no rain during the
16
IC16
Norfolk
15(
15-y;
week. The thermometer has ranged from 65 to 104, aver16
15%
Baltimore
1615%
15%
15%
aging 84.
16.65
16.70
Philadelphia
16.20' 16.35
16.25
16.25
15 Y,
15 %
Augusta
15Y,
15 %
1.534,
15'%
Alexandria Louisiana.—The week's rainfall has been.
15
15
Memphis
15
15 H
15
1534
seventy hundredths of an inch, on two days. Average ther15
15
St. Louis
15
15
15
15
14%
Houston
15
14'%
14%
14(
14%
mometer 80, highest 96, lowest 63.
14 y
Little Rock
14 Y
14 H
14
14
14 H
Amite, Louisiana.—Rain has fallen on four days the past
NEW ORLEANS OPTION MARKET.—The highest, week, the rainfall reaching one inch and two hundredths.
lowest and closing quotations for leading options in the New The thermometer has averaged 83, the highest being 97
Orleans cotton market for the past week have been as follows: and the lowest 69.
New Orleans, Louisiana.—Rain has fallen on three days
Sat'day, Monday, Tuesday, Wed'day, Thursd'y, Friday,
of the past week, the rainfall reaching one inch and ninetyJuly 16. July 18. July 19. July 20. July 21. July 22.
eight hundredths. The thermometer has averaged 80,
July—
ranging from 68 to 92.
Range
15.05-.10 15.12-.20 14.99-.19 14.87-.90 14.80-.90 14.78-.82
Shreveport, Louisiana.—Rain has fallen on one day during
Closing
15.07 — 15.15-.20 15.00 — 14.90-.91 14.89-.90 14.75-.85
August—
the week, to the extent of one hundredth of an inch. The
14.43-.50 14.60-.73 14.31-.65 14.36-.49 14.45-.53 14.36-.45
Range
Closing
14.46-.47 14.70-.72 14.32-.34 14.46-.47 14.49-.50 14.42-.44 thermometer has ranged from 65 to 94, averaging 79.
September—
Columbus, Mississippi.—We have had rain on one day dur13.32-.37 13.58-.74 13.35-.68 13.51-.60 13.55-.62 13.45-.54
Range
Closing
13.36-.37 13.71-.72 13.45-.47 13.58-.59 13.52-.54 13.53-.54 ing the week, to the extent of six hundredths of an inch.
October—
Average thermometer 79, highest 95, lowest 62.
Range
12.71-.75 12.83-.04 12.76-.99 12.72-.90 12.83-.96 12.80-.93
Meridian, Mississippi.—We have had rain on three days
Closing
c2.73-.74 13.02-.03 12.82-.83 12.89-.90 12.87-.88 12.92-.93
November—
of the past week, the rainfall reaching thirty-seven hun_ @ _ _ ® _ — .87 .._. @
_ (3, _ _ @ —
Range
dredths of an inch. The thermometer has averaged 79, the
Closing
12.63-.65 12.92-.94 12.71-.73 12.79-.81 12.76-.77 12.82-.84
highest being 92 and the lowest 66.
December—
Range
12.60-.65 12.73-.95 12.67-.90 12.63-.81 12.74-.86 12.71-.83
Vicksburg, Mississippi.—There has been rain on two days
Closing
12.64-.65 12.93-.94 12.72-.73 12.80-.81 12.77-.78 12.82-.83
January—
during the week, the precipitation being one inch and ninetyRange
12.63-.65 12.75-.94 12.67-.90 12.72-.80 12.75-.87 12.77-.81 four hundredths.
Thermometer has ranged from 67 to 90,
Closing
12.64-.66 12.93-.94 12.73-.74 12.80-.81 12.78-.79 12.83-.84
averaging 79.
March—
Range
— @ — 12.88-.01 12.82-.99 12.77-.92 12.85-.95 12.85-.87
Fort Smith, Arkansas.—Dry all the week. The thermoClosing
12.75-.77 13.04-.06 12.84-.85 12.91-.93 12.89-.90 12.95-.96
meter has ranged from 62 to 98, averaging 80.
Tone—
Spot
Firm.
Quiet.
Easy.
Quiet.
Quiet.
Easy.
Helena, Arkansas.—Weather rather cool. We have had
Options
Quiet. Steady. Steady. Very st'y Steady. Steady.
rain on two days during the week, to the extent of seventyfive hundredths of an inch. Average thermometer 77.5,
WEATHER REPORTS BY TELEGRAPH.—Reports to highest 91, lowest 64.
us by telegraph from the South this evening indicate that,
Little Rock, Arkansas.—Rain has fallen on two days the
while rain has fallen in portions of Texas, other sections still past week, the rainfall reaching forty-one hundredths of an
need rain. Elsewhere the conditions have on the whole inch. The thermometer has averaged 79, the highest being
been favorable, although there are a few complaints of too 92 and the lowest 65.
much rain. Some of our correspondents refer to improveMemphis, Tennessee.—Weather favorable and the condiment in the condition of the crop.
tion of the crop improving. We have had rain on two days
Galveston, Texas.—Considerable portion of Texas still of the past week, the rainfall reaching twenty-five hunneeds a soaking rain. There are many sections complaining dredths of an inch. The thermometer has averaged 77.2,
of drought. We have had rain on three days during the the highest being 91 and the lowest 62.4.
week, the rainfall being three inches and three hundredths.
Nashville, Tennessee.—There has been rain on three days
The thermometer has averaged 80, the highest being 86 during the week, the precipitation reaching one inch and
and the lowest 74.
fifty-eight hundredths. The thermometer has averaged 76,
Abilene, Texas.—There has been no rain the past week. the highest being 88 and the lowest 64.
The thermometer has averaged 87, ranging from 70 to 104.
Mobile Alabama.—Scattered rains in the interior early in
Brenham, Texas.—We have had rain on one day during the week, fair weather latter part. Crop reports improvthe week, the precipitation reaching twenty hundredths of ing. Rain has fallen on four days of the week, the rainfall
an inch. The thermometer has ranged from 72 to 100, being one inch. The thermometer has ranged from 68 to 88,
averaging 86.
averaging 79.
Cuero Texas.—Dry all the week. Average thermometer
Montgomery, Alabama.—Too much rain in the early part
87, highest 102 and lowest 71.
of the week. Dry weather is imperatively needed. There
Dallas, Texas.—There has been no rain during the week. has been rain on four days during the week, the precipitation
The thermometer has averaged 85, the highest being 106 reaching two inches and nineteen hundredths. The therand the lowest 63.
mometer has averaged 77, the highest being 94 and the
Huntsville, Texas.—There has been rain on one day of the lowest 66.
past week, the rainfall reaching seventy hundredths of an
Selma, Alabama.—Bottom lands are still too wet to work.
inch. The thermometer has averaged 82, ranging from Rain has fallen on four days of the past week, the rainfall
67 to 97.
reaching one inch and twenty-six hundredth. The therKerrville, Texas.—We have had rain on one day during mometer has averaged 78, ranging from 64 to 95.
the week, the precipitation reaching three hundredths of an
Madison, Florida.—The week's rainfall has been seventyinch. The thermometer has ranged from 64 to 103, aver- three hundredths of an inch,on one day. Average thermoaging 84.
meter 78, highest 90, lowest 70.
Lampasas, Texas.—Rain has fallen on two days of the
Tallahassee, Florida.—There has been rain on three days
week, the rainfall being twenty-two hundredths of an inch. during the week, the precipitation reaching forty-two hunAverage thermometer 87, highest 106, lowest 67.
dredths of an inch. The thermometer has averaged 79, the
Longview, Texas.—Dry all the week. The thermometer highest being 89 and the lowest 68.
has averaged 83, the highest being 102 and the lowest 64.
Savannah, Georgia.—The week's rainfall has been two
Luling, Texas.—We have had rain on one day during the inches and ninety-nine hundredths, on four days. Average
week, the precipitation reaching forty-seven hundredths of thermometer 79, highest 94 and lowest 64.
an inch. The thermometer has ranged from 72 to 100,
Washington, Georgia.—It has rained on four days of the
averaging 86.
week, the rainfall being two inches and three hundredths.
Nacogdoches, Texas.—Rain has fallen on one day of the The thermometer has averaged 78, the highest being 95 and
week, the rainfall being ninety-seven hundredths of an inch. the lowest 60.
Average thermometer 77, highest 90, lowest 63.
Charleston, South Carolina.—There has been rain on four
Palestine, Texas.—We have had rain on one day during days during the week, to the extent of two inches and fifteen
the week, the precipitation being four hundredths of an inch. hundredths. The thermometer has averaged 78, ranging
The thermometer has averaged 82, the highest being 100 from 66 to 91.
and the lowest 64.
Greenville, South Carolina.—We have had rain on one day
Paris, Texas.—It has rained on one day of the week, the during the week, the rainfall reaching nine hundredths of an
precipitation being two hundredths of an inch. The ther- inch. The thermometer has ranged from 61 to 89, averaging
moxfieter has averaged 82, ranging from 61 to 103.
75.
San Antonio, Texas.—We have had rain on two days
Spartanburg, South Carolina.—There has been rain on two
during the week, the rainfall reaching forty-four hundredths days during the week, the rainfall being one inch and two
of an inch. The thermometer has ranged from 72 to 100, hundredths. The thermometer has averaged 77, tho highaveraging 86.
est being 95 and the lowest 59.
Taylor Texas.—It has rained on one day of the week, the
Charlotte, North Carolina.—We have had rain on two days
rainfall being sixteen hundredths of an inch. Average ther- the past week, the rainfall being forty-six hundredths of an
mometer 86, highest 102, lowest 70.
inch. Thermometer has averaged 74, ranging from 60 to 90.
Weatherford, Texas.—It has rained on one day, the rainfall
Raleigh, North Carolina.—It has rained on four days during
being ninety-seven hundredths of an inch. The thermometer the week, the rainfall reaching seventy hundredths of an
has averaged 86, the highest being 105 and the lowest 67.
inch. Average thermometer 76, highest 92 and lowest 60.
Closing Quotations for Middling Cotton on—
Week ending
July 22.
Sarday. Monday. Tuesday. Wed'day. Thursd'y. Friday.
7)
223
THE CHRONICLE
JULY 23 1910.j
4.t.4
DOMESTIC EXPORTS OF COTTON MANUFACTURES.-We give below a statement showing the exports
of domestic cotton manufactures for May and for the eleven
months ended May 31 1910, and, for purposes of comparison,
like figures for the corresponding periods of the previous
year are also presented:
Quantities of Manufactures of Cotton Month ending May 31. 11 Mos. ending May 31.
(colored and uncolored)
1909.
1909-10.
1908-09.
1910.
Exported to92,284
182,955 2,033,275 2,293,078
yards_
United Kingdom
98,461
28,327
9,353
9,308
Germany
174,200
32,339 2,669,405 2,134,630
Turkey in Europe
81,623
18,306
436,741
583,083
Other Europe
838,038 8,944,800 6,937,864
766,986
British North America
Cent. Am. States & Brit. Honduras 1,994,298 2,292,063 21,906,739 28,933.979
146,647
198,580 1,347,860 1,560,130
Mexico
559,753 1,998,816 12,311,732 18,862,649
Cuba
2,806,784 2,988,913 37,774,247 39,938,120
Other West Indies and Bermuda
273,805
105,121 2,085,433 1,382,881
Argentina
156,027
206,482 2,101,520 2,307,152
Brazil
890,531
598,802 9,187,610 7,566,417
Chile
1,246,106 1,455,666 14,206,566 14,398,910
Colombia
189,336
Ecuador
163,545 2,279,911 2,171,631
Venezuela
166,678
511,190 3,766,239 5,513,428
Other South America
423,348
953,322 6,393,770 7,208,689
Aden
425,250 1,888,250 8,855,270 25,126,750
21,601,907 14,363,533 84,525,956 114,480,270
Chinese Empire
British East Indies
1,032.000
929,606 9,940,924 11,396,663
656,881
Hongkong
37,512 1,061,976
24,427
78,878
184,667
Japan
13,280
830,325 6,411,215 7,652,875
British Australasla
628,522
Philippine Islands
1,914,655
466,984 33,257,090 9,303,485
135,427
193,324 1,963,667 2,564,374
Other Asia and Oceania
746,062 7,215,574 6,904,038
British Africa
273,569
111,752 1,399,159 1,932,638
34,324
Other Africa
3,611
3,611
Other countries
,
36,064,731 32,120,794 282,363.417 321,917,720
Total yards of above
$ 2,366,536 $1,918,422 $18,100,900 $18,855,092
Total values of above
$0.586
$.0641
$0.597
$0.656
Value per yard
Value Other Manufactures:of Cotton
Exported toWearing apparelUnited Kingdom
Belgium
Germany
Other Europe
British North America
Central American States and British Honduras
Mexico
Cuba
Other West Indies and Bermuda_
South America
Chinese Empire
Japan
British Australasia
British Africa
Other countries
Waste, cotton
Yarn
All other
$
70,039
200
3,427
8,982
158,440
$
38,988
480
861
3,949
143,569
$
743,141
3,030
30,761
79,253
1,612,588
$
614,499
1,992
121,298
59,302
982,919
55,600
37.760
59,852
19,082
15,896
1,080
1,089
48,438
16.501
39,012
45,601
23,746
35,360
12,396
4,758
909
41,190
14,673
47,430
725,530
255,980
380,512
191,877
142,073
27,161
8,226
391,703
149,349
475,843
435,720
229,382
301,428
139.809
75,276
32,326
11,146
298,117
123,604
293,724
371,294
59,510
406,962
129,928
37,289
357,861
2,815,953
415,719
3,715,599
1,948,998
505,545
2,941,836
3,737,790 2.857,410 30,265,198 27,972,013
Total manufactures of
INDIA COTTON MOVEMENT FROM ALL PORTS.
.Iuly
21.
Receipts at-
1909-10.
1908-09.
1907-38.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
Since
Week. Sept. 1.
8,000 2,083,000 16,000 2,009,000
9,000 3,126,000
Bombay
Exports
from-
Great Conti- Japan
Great
Britain. nent. &China Total. Britain.
Bombay1909-10_ _ 1,000 11,000 9,00 21,000
3,00 15,000 18,000
1908-09_
11,000 41,000 52,000
1907-08_
Calcutta3,000
3,000
1909-10
3,000
3,000
1908-03
1907-08
Madras1,000
1,00
1909-10
6,000
1908-05- - 3,000 3,00
3,000
1907-08_ _ 1,000 1,000 1,00
All others4,000
1909-10_ 1,000 3,000
1908-09- _ 4,000 7,000 2,000 13,000
4,00 10,000
1007-08_ - 1,000 5,00
Total all1909-10_ _
1908-091907-08._
2,000 18,000 9,00 29,000
7,000 16,000 17,000 40,000
2,000 17,000 46,000 65,000
Conticent.
Japan
cfc China. Total.
95,000 955,000 870,000 1,920,000
23,000 571,000 653,000 1,247,000
28,000 626,00
424,000 1,078,000
4,00
5,000
5,00
46,000
43,000
25,000
48,00
31,000
20,00
98,000
79,000
50,000
4,00
7,000
7,000
20,00
28,000
28,000
1,000
12,000
9,000
25,000
47,000
44,000
30,00 306,000
26,000 292.000
21,000 252,00
15,000 351,000
74,000 392,000
36,000 309,000
133,000 1,327,000 934,0002,394,000
61,000 934,000 770,000 1,765,000
61,000 931,000 489,000 1,481,000
ALEXANDRIA RECEIPTS AND SillPMENTS
Alexandria, Egypt,
July 20.
Reeripts (cantars)This week
Since Sept. 1
Exports (bales)To Liverpool
To Manchester
To Continent
To America
1909-10,
1908-09.
1907-08.
900
4,909,466
300
6,674,745
3,500
7,156,843
This Since
This Since
This Since
Week. Sept. 1. Week. Sept. 1. Week. Sept. 1.
150,362
119,308
2,750 298,902
60,952
191,365
212,542
3.750 356,530
88,758
225,001
206,491
37/66 362,926
73,401
Total exports
2,750 629,524 3,7501849,105 3,750 867,819
Note.-A cantar is 99 lbs. Egyptian bales weigh about 750 lbs.
MANCHESTER MARKET.-Our report received by
cable to-night from Manchester states that the market is
firm for yarns and quiet for shirtings. Merchants are
buying very sparingly. We give the prices for to-day below and leave those for previous weeks of this and last year
for comparison:
83 lbs. Shirt- Cot'n
ings, common Mid.
to finest.
Upl's
32s Cop
Twist.
d.
d. s.
J'ne.
3 10% 83 114 5
10 1015-1683 11% 5
17 104 ® 11% 5
24 109-16V 115-16 5
July
1 10% @ 11% 5
8 10% 0 11 5
15 10) 83 11 5
22 103.g 0 113I 5
83i lbs. Shirt- Cot'n
ing:, common Mid.
Upl s
to finest.
323 Con
Twist.
a.
d.
7.94 8
8.23 8
8.09 8%
8.05 83
04
04
83
04
8% 4
8% 4
8)44
9 4
9
9
9
9
583104
5 83104
5 ®1043. 7
77...9
986
4
29
884
4
515,
.9 8;'
00
00
9% 4
95/g 4
934 4
94 4
d.
s. d. d. d.
8 @10 5
8 010 6
8 @10 6
6%V 10 5
.8. d. d.
@8105.1
@8103.1
@811
838 11
10 839
10%839
11 09
1.0 09
0
1%
3
2
5.83
5.83
5.96
6.06
6.33
6.75
6.72
6.48
WORLD'S SUPPLY AND TAKINGS OF COTTON.
Cotton Takings.
Week and Season.
1908-09.
1909-10.
Week.
Season.
Week.
Season.
Visible supply July 15
.2,802,681
2,099,838
Visible supply Sept. 1
1,714,982
1,931,022
American in sight to July 22__ _
58,286 13,415,611
76,181 10,299,171
Bombay receipts to July 21.....
8,000 2,083,000
9,000 3,126.000
Other India ship'ts to July 21..
518,000
22,000
474,000
8,000
Alexandria receipts to July 20_
889,700
654,600
100
Other supply to July 20*
199,000
9,000
268,000
4,000
Total supply
2,197,119 16,752,793 2,899,970 18.820,293
DeductVisible supply to July 22
1,977,789 1,977,789 2,640,269 2,640,269
Total takings to July 22
219,330 14,775,004 259,701 16,180,024
Of which Aruerica,n
162,230 10,705,404 161,701 12,404,324
Of which other
57,100 4,069.600
98,000 3,775,700
• Embraces receipts In Europe fromBrazil, Smyrna, West Indies. &c.
SHIPPING NEWS.-As shown on a previous page, the
exports of cotton from the United States the past week have
reached 22,049 bales. The shipments in detail, as .made
up from mail and telegraphic returns, are as follows:
Total bales.
NEW YORK-To Liverpool-July 15-Celtic, 3,495
3,495
To Manchester July 15-Tintoretto, 685
685
To Havre-July 16-California, 2,898
2,898
To Bremen-July 20-Bremen, 4,518
4,518
1,458
GALVESTON-To Hamburg-July 19-Albano, 1,458
NEW ORLEANS-To Liverpool-July 15-Mechanician, 2,894......
4,294
July 20-Wm. Cliff, 1,400
45
To London-July 16-Californian, 45
1,268
To Havre-July 20-Honduras, 1,268
937
To Bremen-July 16-Californian, 937
To Barcelona-July 20-Martin Saenz, 1,750
1,750
To Havana-July 16-Excelsior, 6
6
294
PENSACOLA-To Hamburg-July 19-Elmsgarth, 294
31
BOSTON-To Liverpool-July 19-Saxonia, 31
70
To Yarmouth July 15-Prince Arthur, 70
300
PHILADELPHIA-To Genoa-July 15-Ancona; 300
22.049
LIVERPOOL.-By cable from Liverpool we have the following statement of the week's sales, stocks, dm.,at thatport:
July 1.
bales_ 11,000
Sales of the week
200
Of which speculators took__
Of which exporters took...... 1,200 •
9,000
Sales, American
1,000
Actual export
40,000
Forwarded
541,000
Total stock-Estimated
Of which American
449,000
54,000
Total Imports of the week_
48,000
Of which American
72,000
Amount afloat
52,000
Of which American
July 8.
30,000
3,000
7,000
28,000
2,000
57,000
500,000
407,000
18,000
12,000
67,000
47,000
July 15.
24,000
July 22.
22,000
6,ijoo
20,000
12,000
45,000
493,000
396,000
37,000
12,000
40,000
22,000
66
-,156
17,000
12,000
41,000
458,000
366,000
16,000
11,000
37,000
20,000
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
spot cotton have been as follows:
Since September 1.
For the Week.
1909.
1910.
Spot.
Saturday.
Market, 1
12:15 }
P. M. J
Dull.
Monday.
Dull.
Tuesday. Wednesday. Thursday.
Dull
and
easier.
Dull.
Dull.
Friday.
Dull.
Mid. Upl'ds
8.02
8.15
8.12
8.03
8.07
7.97
Sales
Spec.&exp.
3,000
300
4,000
1,000
5,000
3,000
3 000
1000
4,000
1,000
4,000
200
Futures. Dull, unch. Firm at
Market 1 to 1 point 5011%
5 decline.
pts. adv.
opened
Market
4
P 11
Quiet at
2 p 1:Its
advance.
Quiet at Steady at
Quiet,
506 pts. 5@.8 pts. uneh. to
decline.
advance. 1 pt. dec.
Quiet at Barely sty. Quiet at
Easy at
Firm at
1 Steady at
at 50734 33407%
} 108 pts. 11%015% 2612 pts. 25404
I arlynnop
nte eau
depHne.
»bra dpe. ntm. Adv. DUI. dec.
The prices of futures at Liverpool for each day are given
below. Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
Fri.
Wed.
Thurs.
July 16
Tues.
Mon.
Sat.
to
4 123j1 4 123(1 4
July 22. 123j 12M 123i 4 123( 4 123
P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m. P.m.y.m.
July _ _ _ _ _ _ _ _ 7 to,4 85% 88 84 76 75 72 78% 77 69)4 6934
July-Aug..... 7 5954 73% 78 7234 64)4 64 61 67 54 66% 80 60)4
Aug.-Sep_
__ 7 28% 44 47 44 38 37 34 42 41 35 35
Sep.-Oct _ __ _ 6 ,89 99% 04 05 01 H 98% 98 06 05 00 9934
Oct.-Nov_ _ __ _ 6 73 81 % 85% 87% 83% 80% 80% 8934 88 8454 84
7134 71 80 78 34 75 74)4
Nov.-Dec. ____ 6 64 72% 76 78 74
6834 68)4 7734 76 73 7234
Dec.-Jan_ ____ 6 61 69)4 73 74 34 71
Jan.-Feb.'...... 6 80 68% 72 74 70 67% 67% 76% 75 72 71)4
71
Feb.-Mch. ____ 6 59 68 71 % 73 69)467 67 76 74 % 71
70)4
73 69 66)4 66)4 76 74 71
Mch.- Apr. _ _ _ 6 59% 67% 71
75% 73 % 70% 70
72 68% 66 66
Apr.-May I_ _ __ 6 59% 67% 71
72 68% 65% 66 75 73% 70 3i 70
May-June 1
0 59 871.671
BREADSTUFFS.
Friday, July 22 1910.
Prices for wheat flour in the local market have ruled firm
or higher, and at some of the Northwestern and Western
markets noteworthy advances have been reported of late.
At the Northwest the demand has increased. Here, however, trade has been on an extremely small scale, and there
is no prospect of an early improvement in business, as eon-
224
THE CHRONICLE
sumers seem determined to buy as sparingly as possible, owing
to the belief among many that it is only a question of time
when wheat prices must decline and bring about lower quotations for flour. Trade at most of the Western and Southwestern centres has been reported dull. Rye flour and corn
meal have been quiet and steady.
Wheat has fluctuated irregularly, but on the whole has
been firmer, owing mainly to the unfavorable character
of the crop reports from the American and Canadian Northwest, bullish crop advices from parts of Europe and a strong
market at Liverpool. Cutting has commenced in the American spring-wheat belt, and it is argued that rain now would
do more harm than good. Canadian reports have been very
discouraging. A rumor was circulated at one time that a
prominent Canadian bank had estimated the yield at only
60,000,000 bushels, but this was subsequently denied. One
crop expert who has completed an inspection of the American
spring-wheat country estimates the crop at only 180,000,000
bushels, or 110,000,000 bushels less than the previous yield.
A prominent trade paper of the Northwest says the prospects
are for a yield in the three principal producing States of from
140,000,000 to 150,000,000 bushels. Northwestern markets have displayed conspicuous strength and the Northwest
has been prominent in the buying at times. Also foreign
houses have bought the September option at Chicago with
sufficient freedom to excite comment. This has given
weight to the unfavorable crop reports from parts of Europe.
Excessive rains in France are said to have delayed the harvest and damaged wheat already cut. The crop shortage
in that country is estimated at 40,000,000 bush. Droughtis
said to have injured the crop in India and Argentina, while
excessive rains, it is reported, have impaired the crop
in parts of Russia and extremely hot dry weather injured the
plant in other portions of that country. The world's shipments last week were over 2,000,000 bushels smaller than
in the preceding week and about 1,800,000 bushels smaller
than in the corresponding period-last year. Visible supplies
on both sides of the water have continued to decrease at a
liberal rate. Minneapolis has reported a good cash demand
from the mills. At times reactions have occurred. Beneficial rains have occurred in parts of the Northwest and some
reports have held out hopes of a larger, yield in parts of
South Dakota and Minnesota than seemed possible recently.
Meantime harvesting returns from the winter-wheat regions
continue very satisfactory and the movement of the new
crop is increasing. " Cash prices at the Southwest have
weakened noticeably under the weight of the expanding
movement of new winter wheat. Hedge selling has been a
feature of the trading at Chicago. Elevator interests have
sold heavily at times, supposedly in part at least for short
account. To-day prices were higher at one time on bullish
crop reports from the Northwest and from Europe, strong
Liverpool cables and covering of shorts, but a decline took
place later on favorable weather reports, increased offers of
new wheat, selling on hedges and liquidation.
DAILY CLOSING PRICES OF WHEAT FUTURES IN NEW YOR K.
Sat. Mon. Tues. Wed. Thurs. Fri.
No. 2 red winter
11736 11536 114
112X 111 X 11231
July delivery in elevator
1223‘ 122j 121
121
121
11936
September delivery in elevator_
113 X 113
111
1i23.6 112 X 111 36
DAILY CLOSING PRICES OF WHEAT FU PUBES IN CHICAGO.
Sat, Man. Tues. Wed. Thurs. Fri.
July delivery In elevator
1093j 110X 108 X 109% 109
10836
107
September delivery in elevator_
107Y 1059,g 1073.i 1073 105%
December delivery In elevator
i093. 10931 107 X 108% 109% 108
[VoL. Lxxxxi.
The following are closing quotations:
e.
FLOUR.
Winter, low grades_ ___*3 00@$3 60 Kansas straights, sack _$5 00 $5 40'
Winter patents
5 30@ 5 50 Kansas clears, sacks___ 4 00
4 50
Winter straights
4 75® 5 10 City patents
6 60
7 40
Winter clears
4 50® 4 75 Rye flour
385
4 20
Spring patents
5 95@ 6 50 Graham flour
4 15
4 25
Sring straights
5 25® 5 50 Corn meal, kiln dried
3 15
3 30
Spring clears
5 00® 5 25
GRAIN.
Wheat, per bushelCorn, per bushelCents.
N. Spring. No. 1
$132
No.2 mixed
elev.
733.1
N. Spring, No. 2
1 30
No. 2 yellow _ _ ..f.o.b.
Nominal
Red winter, No. 2
1 11 X
No. 2 white
f.o.b.
Nominal
Hard winter, No. 2
1 18
Rye, per bushelOats, per bushelCents.
No. 2 Western_ f.o.b.
81
Natural white
48 ®51
State and Jersey
Nominal
White clipped
50 @5331 Barley-Malting
72@76
Mixed
Nominal
Feeding, c.i.f., N. Y__
Nominal
The statements of the movement of breadstuffs to market
indicated below are prepared by us from figures collected by
the New York Produce Exchange. The receipts at Western
lake and river ports for the week ending last Saturday and
since August 1 for each of the last three years have been:
_ _
Receipts at- Flour.
Wheal.
Corn.
Oats.
Barley.
Rye.
---------bbls.196lbs. hush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bush.4811s. bu.56 lbs.
Chicago _ _
109,122
141,000 1,243,100 1,093,050
292,300
6,500
Milwaukee_
50,050
39,550
99,440
214,200
89,700
3,060
Duluth
7,715
353,680
21,434
38,114
81,740
1,561
Minneapolis_
915,520
112,660
198,180
138,510
8,090
Toledo
13,500
42,500
45,750
1,000
Detroit
7,090
5,100
19,203
15,287
1,794
Cleveland _
11,858
36,668
77,338
37,330
244,763
St. Louts_ _
242,400
309,900
1,400
90
37,600
Peoria
7,000
234,100
169,000
19,200
33,000
Kansas City.
1,317,600
214,800
44,200
Total wk.'10
Same wk.'09
Same wk.'08
3,049,571
1,379,628
4,425,091
250,701
304,970
335,993
2,266,305
2,000,788
1,858,970
2,204,519
1,498,580
1,821,686
622,850
468,688
396,525
53,301
29,713
49,429
Since Aug. 1
1909-10_ _ _ 19,551,620 242,950,079 178,887,469 86,998,127 79,905,527 6,767,506
1908-09 _ 19,723,362 213,096,771 196,907,936 160,369,832 81,290,175 6,272,092
1907-08 _ _ 17,828,077 210,280,412 118,553,327 181,131,112 61,490,893 6,601,225
Total receipts of flour and grain at the seaboard ports for
the week ended July 16 1910 follow:
Receipts atNevi York
Boston
Philadelphia
Baltimore
Richmond
New Orleans
Newport News_ _
Galveston
Mobile
Montreal
Flour,
bbls,
119,697
28,729
26,729
21,911
2,200
11,396
336
3,159
18,730
Wheat,
bush,
130,700
3,092
63,392
319,133
9,250
Corn,
bush,
195,600
10,067
12,480
38,551
36,406
324,400
Oats,
bush,
317,650
51,370
100,123
58,290
12,000
58,500
Barley,
bush.
1,275
17,000
1,000
5,588
20,000
371,648
72,217
691,492
Rye,
bush.
1,040
1,167
836
Total week 1910_ _ 232,887 1,234,059
614,092
969,581
74,659
1,876
Since Jan. 1 1910..8,866,653 35,696,773 23,892,569 24,905,289 1911,269 417,177
497,842
337,331
195,436
Week 1909
476,623
97,463
20,882
Since Jan. 1 1909_ _7,801,795 34,618,251 27,442,611 24,129,926 4134,280 413,935
The exports from the several seaboard ports for the week
ending July 16 1910 are shown in the annexed statement:
Wheat,
Exports from,
bush.
New York
83,894
Boston
Philadelphia __ _
Baltimore
New Orleans_ _ _ _
Newport News__ _
Galveston
Mobile
Montreal
404,000
Corn, Flour,
bbls,
bush,
26,757 36,545
4,355
3,000
1,550 9,424
5,189
270,000
336
6,000
5,000
5,588
3,159
93,000 23,000
124,000
31,000
Total week
Week 1909
405,895 90,008
64,593 102,827
127,655
27,554
31,000
76,778
487,894
743,047
Oats,
bush,
3,515
Rye, Barley,
bush,
bush.
Peas,
bush.
8,669
40
100
700
9,369
2,330
The destination of these exports for the week and since
as below:
Indian corn futures have advanced, with the trading here July 1 1910 is--Flour-----Wheat---more active, while the speculation at the West has been exSince
Since
Since
Week
July 1
Week
July 1
cited at times. Stimulating and strengthening factors have
July 1
Week
Exportsfor week and July 16.
1910. July 16.
1910.
July
16.
1910,
reports
from various parts of a decline in the condition,
been
since July 1 toIbis.
bbls.
bush,
bush,
bush.
bush.
owing to insufficient moisture and high temperatures. United Kingdom__ _ 341,453 89,500 389,862 1,018,782 53,000 188,714
Continent
15,563
95,032
29,319
200,553
60,316
94,316
These reports have caused active commission-house buying. Sou. 8c Cent, Amer_ 15,014 33,841
3,000
6,000 261.780
363,400
24,760
43,123
Also, cash interests have made purchases. The country is West Indies
29,788
57,194
Brit.
105
75
Nor.
Cols_
Am.
not selling as freely as had been expected, and meantime the Other Countries... _
143
143
1,011
1,011
--'
------- ---shipping demand at the West has been good. At times re--Total
90,008 106,031 487,894 1,225,335 405,895
704,635
actions have occurred, owing to realizing. To-day prices Total
1909
102,827 210,274 743,047 1,682,099
64,693
187,004
declined on general selling, due to reports of rains at the
The world's shipments of wheat and corn for the week
Southwest.
since
July
and
ending July 16 1910
1 1909 and 1908 are
DAILY CLOSING PRICES OF NO. 2 MIXED CORN IN NEW YORK.
shown in the following:
Sat. Mon. Tues. Wed. Thurs. Fri.
Cash corn
7136 7336 71X 72X 723.
7331
July delivery in elevator
69 X 7136 71
72
74
72%
September delivery In elevator_ _ _ _ 70
7036 70
71
73
71 X
DAILY CLOSING PRICES OF CORN FUTURES IN CHICAGO.
Sat. Mon. Tues. Wed. Thurs. Fri.
July delivery in elevator
5936 60 X 62
593. 593
64
September delivery in elevator_ _ _ _ 6136 61 X 60 "A 62
63% 62%
December delivery in elevator_ _ _ _ 58 X 58 X 58 36 59 X 62
59%
Wheat.
Exports.
Week
July 16.
Corn.
1909.
1910.
Since
July 1.
Bushels.
3,483,000
10,680,000
1,504,000
2,456,000
3,208,000
1,400,000
224,000
Since
July 1.
1910.
Week
July 16.
Since
July 1.
1909.
Since
July 1.
Bushels. Bushels.
3,895,000 439,000
5,576,000 136,000
5,592,000 476,000
392,000 2,950,000
7,088,000
760,000
536,000
Bushels.
Bushels.
Oats for future delivery in the Western market have ad- North Amer. 065,000
1,113,000
254,000
Russian _ 3,616,000
681,000 2,234,000
vanced, with trading active. Northwestern crop reports Argentine
.... 400,000
3,962,000 9,951,000
unfavorable
country
the
and
has
not sold freely. Danubian _ 992,000
have been
5,433,000 2,736,000
896,000
The cash demand at th Weest has been good. The strength Indian
Australian_
160,000
stimulating
factor.
of corn has also been a
Cash houses 0th. countr's 56,000
have made purchases and commission house business has
Total _ - 7,085,000 22,955,000 23,839,000 4,001,000 16,189,000 15,175,000
increased. On the other hand, crop reports from many sections have been favorable, and the crop outlook, taken as a
The quantity of wheat and corn afloat for Europe on dates
whole, is considered satisfactory. To-day prices declined mentioned was as follows:
on the weakness in corn, selling by elevator interests and
Wheat.
Corn.
liquidation.
DAILY CLOSING PRICES OF OATS IN NEW YORK.
Tues.
Man.
Wed.
Sat.
Thurs.
Fri.
48-51
48-51
Natural white
48-51
48-51
48-51
48-51
White clipped
50-53 36 50-5336 50-5336 50-5336 50-53 36 50-5336
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO.
•
Sat. Mon. Tues. Wed. Thurs. Fri.
July delivery In elevator
41 36 41 X, 41 X 41 % 42 36 41 %
September delivery In elevator_ _ _ _ 39 Y. 39 3.
3931 39 X 3931 39 X
December delivery in elevator...... 4031 40'% 4031 4031 40( 4031
United
Kingdom.
----Bushels.
1910._ 20,560,000
1910._ 21,920,000
1909._ 18,880,000
1908._ 14,960,000
1907.. 22.120,000
Continent.
Total.
-_-_-_-_-_-__
July
July
July
July
July
16
9
17
18
20
Bushels. Bushels.
8,320,000 23,880,000
8,480,000 .30,400,000
13,080,000 .32,560,000
9,760,000 24,720,000
9.840,000 :31,960,000
United
Kingdom, Continent. Total.
----Bushels.
Bushels. Bushels.
6,035,000 10,200,000 16,235,000
5,525,000 9,775,000 15,300,000
8,840,000 12.410,000 21,250,000
5,780.000 7,820.000 13,600.000
8,000.000 12,840,000 20,840,000
THE CHRONICLE
JULY 23 1910.
225
. .he visible supply of grain, comprising the stocks in
The value of these New York exports since Jan. 1 has been
.nary at principal points of accumulation at lake and $9,192,654 in 1910, against $12,362,123 in 1909.
-.Aboard ports July 16 1910, was as follows:
Business in heavy brown sheetings and drills, although
AMERICAN GRAIN STOCKS.
somewhat in excess of last week's volume is still quite modBarley,
Rye,
Corn,
Wheat,
Oats,
erate, but with the cleaning up of a number of stocks from
bush.
bush,
bush.
bush.
bush.
300,000
245,000
188,000 first hands, there is less irregularity in prices, with a harden179,000
New York
1,000
54,000
4,000
18,000
159,000
Boston
ing tendency shown in leading makes. Bleached muslins
10,000
49,000
328,000
Philadelphia
189,000
18,000
1,000 are in steady request without change in price. Denims,
204,000
456,000
Baltimore
354,000
92,000
11,000
New Orleans
tickings and other coarse, colored cottons are also steady
5,000
40,000
Galveston
293,000
7,000
235,000 in all leading makes; stocks of other lines which have been a
519,000
197,000
Buffalo
45,000
35,000
4,000
99,000
Toledo
disturbing factor for some time past are now reported fairly
129,000
15,000
129,000
Detroit
well cleaned up and buyers find it difficult to purchase ex806,000
667,000
215,000
9,000
Chicago
16,000 cept at fully previous prices. There is no change to report in
241,000
278,000
141,000
3,000
Milwaukee
343,000
98,000
1,170,000
2,252,000
78,000
Duluth
280,000 staple prints and ginghams, but in the finer grades of fancy
40,000
269,000
136,000
4,276,000
Minneapolis
65,000
48,000 prints and dress ginghams buying for next spring has been
187,000
70,000
3,000
St. Louis
716,000
519,000
49,000
Kansas City
3,000
24,000
15,000 on a fairly liberal scale, and up to the present time the new
45,000
Peoria
season's business wears a satisfactory appearance. The
52,000
325,000
Indianapolis
89,000
348,000
1,104,000
On Lakes
377,000
demand for printing and convertible cloths has shown some235,000
42,000
On Canal and River... 135,000
181,000
what more spirit, and in a number of makes buyers have paid
---- ---- ---318,000 1,1-07,000 advances of He. over what they were able to purchase at
Total July 16 1910_ _10,834,000
4,740,000
3,549,000
361,000 1,444,000
Total July 9 1910._11,613,000
4,743,000
4,007,000
583,000 last week, and at the close of the market in some directions
135,000
Total July 17 1909._ 7,233,000
2,704,000
5,618,000
find it difficult to make further progress thereat in face of
CANADIAN GRAIN STOCKS,
Wheat,
Corn,
Rye,
Barley,
Oats,
increased pretensions on the part of makers; for 383' -inch
bush,
bush.
bush.
bush.
bush.
Montreal
188,000 64 squares 4 8c. is bid, with Sc. generally asked.
933,000
20,000
887,000
Rye,
bush.
Barley,
bush.
318,000
1,107,000
188,000
4,- 436,000
4,930,000
6,014,000
1,499,000
4,651,000
5.351.000
318,000
361,000
135,000
106,000
674,000
1.391,000
1,295,000
1,543,000
683,000
829,000
756,000
1,059,000
THE DRY GOODS TRADE.
•
New York, Friday Night, July 22 1910.
There has been an increase in the number of buyers in
the market this week, and their attendance has imparted
a busier appearance to trading which has hardly been borne
out by actual results. Yet at the same time the aggregate
volume of business reported shows some gain upon the results of preceding weeks. It is possible that more might
have been done in the cotton'goods division if buyers had
found sellers as easy to deal with as of late. In most directions, however, the latter have displayed a growing firmness,
not only in resisting demands for further price concessions,
but in holding out for actual advances on prices they were
willing to go on at a week ago. The most definite indications
of this have been seen in goods of print-cloth-yarn construction, on which manufacturers at Fall River and other cen1
advance on some makes. Buyers,
tres are holding for /0.
as a result of their more general testing of the market, are
finding many bare spots where they had expected to be
able to purchase from stocks on hand, and although this has
not stimulated them to activity in placing orders ahead,
the week's business has been less generally of a hand-tomouth character than before. Taken as a whole, the tone
of the market is perceptibly better. The extraordinary position of cotton still acts as a severe check upon manufacturing, and although the curtailment of output is probably less
than it was two weeks ago, it is still severe enough to prevent further accumulation of merchandise in first hands,
and ought to prove a sound foundation for the upward turn
in values seen this week. In the woolen goods division,
business has been on a broader scale, further important lines
having been opened of men's wear fabrics; the new prices
named on these showing declines from a year ago on standard makes of 10 to 20c. per yard, are evidently looked upon
as placing the price situation in a clearer light. It is reported on good authority that plans are completed for a combination of some 25 mills, running about 4,000 looms, with a
capital of $25,000,000, the interests combining being mainly
manufacturers of men's wear fabrics. The first of the Claflin
sales of the Tefft-Weller stock has been the chief feature in
jobbing circles. Results are reported to have been quite
satisfactory.
DOMESTIC COTTON GOODS.-The exports of cotton
goods from this port for the week ending July 16 were 3,427
packages, valued at $237,635, their destination being to the
points specified in the table below:
-1909
-1910
New York to July
16-
Great Britain
Other Europe
China
India
Arabia
Africa
West Indies
Mexico
Central America
South America
Other countries
Total
Week.
Since
Jan. 1.
Since
prices.
Importations and Warehouse Withdrawals of Dry Goods.
The importations and warehouse withdrawals of dry goods
at this port for the week ending July 16 1910 and since
Jan. 11910, and for the corresponding periods of last year
were as follows:
18,443
1,238
150
140
742
10
277
791
340
661
121,637
9,938
17,220
7,798
21,963
914
8,019
29,299
10,021
134,480
22,134
228,084
a
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00
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05.400000
OWWNW
co
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4, 1.2 -co"
153.
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NW
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-400
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Ga
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MO
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NN
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Week. Jan. 1.
1,161
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615
28
--42,767
8,389
55
6,510
238
2,394
187
15,368
754
1,114
114
5,421
402
27,662
994
23,079
514
3,427
FOREIGN DRY GOODS.-Seasonable merchandise has
been selling in moderate quantities in dress goods, silks,
ribbons, &c., but importation orders are reported as below
general expectations. Linens continue firm, both for goods
in stock and for next season's importations. Burlaps are
quiet, with an indifferent business doing at last week's
04. 0
CoNOMOD
AC'S CS
CO 0
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CO' 00.4000
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1691,CL'tL
Oats,
bush.
3,549,000
887,000
Wheat,
bush.
•aoraad anvs DNIIIIICI
Corn,
bush.
4,790,030
10,834,000
20,000
4,500,000
---- ---4,760,000
Total July 16 1910_ _15,334,000
4,851,000
Total July 9 1910_ _16,154,000
2,750,000
Total July 17 1909._ 9,099,000
2,901,000
Total July 18 1908...13,262,000
8,999,000
Total July 20 1907_ _48,636,000
5,867.000
Total July 21 1906_ _25,915,000
American
Canadian
WOOLEN GOODS.-Leading lines of staple worsteds and
woolens have been opened by the American Woolen Co. and
other prominent makers this week. The former has not
yet made known publicly its list of prices, but from what
could be gathered in the Market, standard lines show reductions ranging from 10c. to 20c. compared with prices for the
same fabrics a year ago. These openings have apparently
released a waiting demand, and the week closes with business
progressing on a broader scale than so far for the new season,
although at the same time it cannot be said that buyers are
acting otherwise than with a fair amount of caution. The
manufacturers look for a considerable augmentation of orders when the market settles down within the next week or
two. Dress goods and cloakings are inactive, the continued
strike of the cloakmakers exercising an adverse influence.
Z6
T6Z.Z6Z.
1- 88,000
99,000
100,000
20,000 -887,000
108,000
923,000
396.000
46,000
SUMMARY.
zierzev'ze
1,773,000
1,320,000
474,000
---Total July 16 1910._ 4,500,000
Total July 9 1910._ 4,541,000
Total July 17 1909._ 1,866,000
609'eZVS9
Fort William
Port Arthur
Other Canadian
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14,1000
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226
THE CHRONICLE
FoL. LXXXXI.
Rate. Maturity. Amount. Pri
Page.me
anF
.ree Sch. Dist.
1569_ _Goshen Un
Nio
No.8, N. Y
434 1912-1930 $03,000 101.73
52_ _Granite City Sch. Dist., Ill__
5
191129
-4
0
1922
14,000
1627...Greensboro, No. Caro
5
35,000 101.08
108.. _Gross Point, Ill
1,000
MUNICIPAL BOND SALES IN JUNE.
1694.. Grosse Pointe Farms, Mich__ 434
1928
0,000 103.366
108__GuntersvIlle, Ala
15,000
434 1915-1939
We present herewith our detailed list of the municipal bond 1569__Hackensack, N. J
25,000 100.07
108__Hamburg, N.Y
434 1915-1939
45,000 100.305
issues put out during the month of June, which the crowded 108_ _Hamburg, N. Y
5
1915-1939
6,600 100
4
108_ _Hamilton, N Y
1911-1924
4,000 100
condition of our columns prevented our publishing at the
4% 1913-1920
52_ _Hamilton County, Ind
3,225
6
108_ _Harrison County, Iowa
1915-1925
21,170 5.40basis
usual time.
1694__Haskell Co. Corn. S. D. No. 1,
5
41915-1930
Texas
1,500
The review of the month's sales was given on page 106 of
52.. _Haskell Co. Corn. S. D.. Tex.... 5
2,300 100
4
108__High Bridge, N. J
1945
15,000 100to101
the "Chronicle" of July 9. Since then several belated June 1627.__Hillsborough
Bridge Fire Dist.,
4
1915-1926
N. H
24,000 100
returns have been received, changing the total for the month
1569__Hoboken, N. J
1940
250,000 102.83
434
to $18,549,085. The number of municipalities issuing bonds
52_ _Hopewell Twp.Sch. Dist., Ohio 5
1912-1914
1,500 100.516
108.._Holloway Sch. Dist., Ohio.._.... 4 1913 to 1933
6.500 100
was 304 and the number of separate issues 398.
168_ _Houston Co.S. D's, Tex.(2 Is.) 5
2,200
1627_ _Indianapolis Sch. Dist., Ind.._ 3% 1940 & '41
75,000 100.001
JUNE BOND SALES.
108_ _Irene Ind. Sch. Dist., Tex_ _ _ _ 5
1930
.8,000 100
Page.
41920-1950
Name.
10,000 100
Rate. Maturity. Amount. Price. 1627_ _Jacksboro Ind. Sch. Dist., Tex. 5
1694...Jackson County, Ind
4
1911-1929
1567Adams, N. Y
1915
65,000 101.046
$7,000 100.10
434
108 _Jackson Township, Ind
4 35 1911-1925
49 ..Akron Sch. District, Ohio.... 4
7,500
150,000 100
1627....Jeannette Sch. Dist., Pa
4 35
1567 __Albany, N. Y
4
50,000 102.41
368,150 100
5
1695_ _Jefferson, Ohio
1625_ _Albany, N. Y
4
1915-1930
6,400 106.515
100,000 100
5
53 __Jefferson, Ohio
107W Albion, Pa
5
1911-1920
35,000 104.13
28,000
108_ _Jefferson Co. S. D. No. 15,Mont.6
41920-1940
5
1690__Alleghany County, Va
1915
2,500 100
80,000
1911-1915
53_ _Jerusalem Twp. Sch. Dist., 0_ 6
5
1690_ _Allen County, Ind
1911-1912
1,000 100.60
12,942 100
41930-1950
53 _JohnsonbUrg, Pa.(2 issues)...._ 5
49_ _Alvin, Tex
5
15,000 100
10,000 100
6
1568_ _Alvord Sch. Dist., Cal
1940
15,000 102.006
15,000 101.353 1628.. _Jonesboro, No. Caro
Ark
_
_
Dist.,
Paving
..Jonesboro
1911-1940
49.. _Amesbury, Mass
4
50,000 100
30,000 100.819 1569..
1628.._Kansas City, Nan.(3 issues)._ 4 35
1940
1625_ _Argo Ind. Sch. Dist., Tex_ _ _ _ 5
2,000 100
730,000 100.136
4
1625_ _Armstrong Co. Com.S. D.,Tex. 5
1911-1915
23 1_ _ Keene, N. H
15,000 100.25
8,000 100
53_ _Kemmerer S. D. No. 10, Wyo.. 5
1940
1568_ _Arnold, Pa
41915-1920
434
98.08
6,000
45,000
1911-1916
1691_ _Ashtabula Sch. Dist., Ohio... 434 1912-1921
7,500 102.843
10,000 102.185 1695.. _Kenmore Sch. Dist., Ohio_ __ _ 5
53...Killeen Ind. Sch. Dist., Tex_
5
41915-1950
1691__Atascosa Co. Corn. S. D. No.
14,000 100
41930-1950
5
41912-1915
1570_ _King Co. S. D. No. 14, Wash_ _ 5
23, Texas
8,000 100
2,800 100
5
50 _Athens, Ohio
55,000 100
3,220 103.633 1570_ _King Co. S. D. No. 133, Wash. 434 41912-1920
a1925
5
50 Athens, Ohio
15,000 100
3,520 103.608 1628 _ _Kingfisher Sch. Dist., Okla_ _ _ 5
434
53_ _Kirkland, N. Y
434
1503_ _Atlanta, Ga. (5 Issues)
4,900 100.285
625,000 101.411
4
1911-1928
53_ _Kirkland, N. Y
434
50_ _Attleborough, Mass
500 101
41,000 100.088
108.._KlIckitat Co.S.D. No.50,Wash. 6
4
41911-1920
1930
50 Auburn. Me
1,500 100
10,000 102
1916-1920
108.._KlIckitat Co. S.D.No.63,Wash. 6
4
2,000 100
1568_ _Baltimore, Md
151,900 100
1940
5
4
108 __Knoxville, Tenn
275,000 100.552
166_ _Baltimore, Md
79.900 100
53....Kossuth County, Iowa
4
454 1916-1924
1914
72,000
1691_ _Batesville, Ind
3,000 100
1912-1928
1605.. Lac Qui Pane County, Minn.._ 5 '20-'25&'30
25,000
50_ _Bethlehem S. D. No. 15, N. Y. 5
3,400 100.50
1911-1930
0
53 _Lafayette County, Mo
120,000
50_ _Black River Falls, Wls
7,000
1628....Lansing, Mich
38,000
50_ _Boardman Twp. S. D., Ohio__ 434 1911-1920
431 1911-1914
10,000 101.20
419204930J
1911-1930 160,000 100
109_ _Laramle Sch. Dist. No. 1, Wyo. 5
10,000 101
107_ _Bogue Hasty Drain D., Miss__ 6
1
45,000 100
1626Boyne City, Mich
25,000
1930
53 _Laurel. Mont. (2 issues)
1625.. _Bratenahl Sch. Dist., Ohio_ __ _ 5
41925-1930
43,000
6
4,000 110.988
4
1568 __Bristol County, Mass
109 _Lawrence County. Ohio
4
100,000 100.01
1930
30,000 100
e
107 __Brookville, Miss
1628 _Leflore County, Miss
5
40,000 100.6187
7,000 y100.02
1911-1930
1568_ _Buffalo, N Y
4
109_ -Liberty, Mo
41911-1920
5
20,000 100.10
100.10
1568Buffalo, N Y
1911-1920
4
1570...Lincoln, Neb. (3 issues)
5
1911-1920
19,660 100
'40.000)
166 __Buffalo, N Y
4
169....Lincoln Sch. Dist., Cal
Various
5
1911-1030
20,000 104.93
720,000
5
53_ _Lindsay Sch. Dist., Cal
1626_ _Bushnell, Ill
6
1913-1918
3,000 105.333
25,000 101.564
4 3.5
1626_ _Canton, Ohio (8 issues)
109....Little Rock Imp. Dist. No. 148,
45,800 102.532
1911-1915
1691_ _Canton Twp. Sch. Dist., Ohio_ 6
Ark
27,000
3,250 104.015
96
534 1911-1918
434 1931-1938
53 _Lockland, Ohio
1568_ _Carnegie, Pa
1920
1,000 103.20
40,0001 103.29
43.4
1695_ _Lorain Co. Rd. Dist. No. 1,O_ 434
1568_ _Carnegie, Pa
13,0005
100,000
434 ,14,15&'16
53 _Loretto Sch. Ms, No.80, Mimi. 434
1504_ _Carroll Sch. Dist., Ohio
5
1,500
25,000 106.988
1911-1934
1911-1920
12,000 101.65
109.._Los Nletos Sch. Dist., Cal....... 5
1691_ _Carrollton, Ohio (2 issues) _ _ _ _ 4
43,070 100.002
68,936 101.767
1628 _Lucas County, Ohio
1691_ _Castile. N. Y
434 1911-1920
4
7,481 100
1920
1911-1920
1628_ _Luverne Ind. S. D., Iowa_ _ _ _ 5
6,500 100.60
166_ _Cedar Falls S. D., Iowa
5
17,000 100
1911-1930
41929-1949
4
51_ _Centre, Texas
1570 _Lynn, Mass
5
85,0001 100.57
4,000 100
1920
1691_ _Champaign County, Ohio
4
4
1570 _Lynn, Mass. (2 Issues)
16.000 100
30,0005
1691_ _Charles City Ind. S. D., Iowa_ - 43.4
1920
1696 _Manistee, Mich
7,000 100.801
23,000
434 1911-1917
51_ _Charleston Sch. Dist., Mo
1930
5
41919-1929
1696_ _Marlcopa Co. S. D. No. 4,Ariz_ 5
19,000 108.20
20,000
1691_ _Chattanooga, Tenn
1911-1915
6
1930
3,095 100.404 1696_ _Marlcopa Co. S.D.No. 17, Ariz. 5
3,300 106.06
1691_ _Chattanooga, Tenn
6
1911-1915
768 100.403 1570 _Marlon County, So. Caro
40,000
434
94
51_ _Chester, Pa
434 '15,'20&'25 300,000 102.237
1911-1919
5
54 Marseilles, Ill
27,000
1626_ _Chicago Heights, Ill
1915-1930
5
25,000 102.321
1696_ Mason Seec. S. D., Ohio
30,000
43-4 1912-1928
1692_ _Chicago Sanitary Dist., Ill_ __ _ 4
1911-1930 1470,000 97.1436 1629__Medina o. Rd. Dis. No. 1,0_ 4
1919-1921
2,500 100
1 30,000 98.25
41920-1950
1629_ _Mexla, Tex
9,250 100
5
1568 __Cincinnati, Ohio
4
1940
1940
103,000
41,000 101.10
90
1696...Middle KIttitas Ia. Dis., Wash.6
1558.. Cincinnati. Ohio
4
1950
1696_ _Mlles City, Mont. (3 Issues) _ -. 535 (119204930 230,000 100
50,000 101.30
107_ _Claremont, Cal. (3. issues) _
4
1696 Milford, Conn
28,000 100
1930
20,000 100
1626_ _Clarkfield, Minn
5
1926-1930
1916-1930
52,000 100
109 _ _Missoula Sch. Dist. No. 1,Mont. 5
4,000 100
107_ _Clifton S. D. No. 2, Kan
109 Moorhead Ind. Sch. Dist., Iowa 454
15,000 100
434
6,400
107_ _Clymer Sch. Dist., Pa
5
169_ _Moose Lake S. D. No. 3, Minn_ 4
8,000
1930
10,000 100
51_ _Coal County, Okla
1935
5
109.._Mountain View Sch. Dist., Cal.. 454 1912-1930
35,000
9,500 100.955
51_ _Coal County, Okla
54 _Murphy, No. Caro
5
1921-1930
25,000 100
10,000
5%
1930
1626_ _Coeur d'Alene Ind. S. D., Ida_ 5
41920-1930
54__Muscatine, Iowa
55,000 101.972
0
6,175
51_ _Colebrook Spec. S. D., N. H
1629__Napoleon, Ohio (2 Issues)
30,000 100.54
19,600 102.275
434 1911-1930
434 1911-1920
109 Naylor Drain. Dist. No. 1, Mo_ 6
0 .._Coleraine. Minn5
1913-1930
40,000 100
32,676
51__Columbla Heights, Minn
1696 _Nebraska City, Neb
1914-1918
5
5
5,000 100
9.000
228_ _Columbus, Ohio
1570__New Albany Sch. City, Ind _ _ ._ _ 1915-1919
35,000 100.285
434 Various.
40,0001x100
228_ _Columbus, Ohio
Various.
109 New Berlin, Ohio
4
1,000 102.50
5
1913
558,6001
51 _ _Cottage Grove, Ore
1629_ _Newbert Protection Dist., Cal.. 6
1920-1935
5
61,790 100
1919-1928
100,000
1626_ _Cottle County Corn. Sch. Dist.,
54_ _New Brunswick, N. J
30,000 100
1940
4
No. 1, Texas
5
1930-1950
3,868
110 Newburg, Ohio
19,000 100
1912
5
107_ _Court House Twp.S. D., Ohlo_ 434 41930-1950
18,159 1-0-0:663
110_ _Newburg, Ohio (5 issues)...... 4 55 1911-1915
15,000 100
1693.. _Crooksville, Ohio
1912-1918
158,000 95.167,
5
1930
3,500 102.285
110_ Newburgh, N. Y
4
1569_ _Custer County, Mont
5
1930
20,000
1940
1570. New Kensington, Pa
50,000
43.4
51_ _Custer Co. S. D. No. 1, Mont _ _ 5 'i9-'24&'20
3,500 103.621
1930
54_ _New Lexington, Ohio
12,000 y100.458
43
1910-1929 300,000 100.003
1693.. _Cuyahoga County, Ohio
4
2,000 101.65
43-4 1917-1918
54_ Newton Township, Ohio
4%
107 __Cuyahoga County, Ohio
61,0251z100
3
1910 & '59
110_ _New York City (2 issues)
3,500...101.927
41915-1940
5
1959
1,4721
1693.. _Dale Sch. Dist., Pa
4
110_ New York City
10,000 100.57
5
1626_ _Dallas, So. Dak
4 15 1920-1923
3,500 103.265
1697_ Niles, Ohio
13,500
1912-1917
1626....Dayton, Ohio
5
6,700 101.205 1629_ _Niles Sch. Dist. No. 1, Mich.__ 454 1915-1925
50,000 102.20
1915-1940
5
1693__Decatur, Ala
454
25,000 100
10,000 100
1697_ Norfolk, Va
4 3.5 1910-1930
1569.. _Delaware Sch. Dist., Ohlo..
41920-1930
30,000 103.535
30.000
110_ _North Bend S. D. No.8, Neb__ 5
5
1626_ _Dixon Sch. Dist.. Cal
1950
4
25,000 102.83
2,211,500
1571_ North Carolina
1911-1920
52....Dothan, Ala
8
Various.
85,000 100
4
46,700 100
110_ North Dakota (11 Issues)
41919-1929
1693_ _Easton, Pa
4
30,000 101.50
1930
54_ Noxubee County, Miss
5
12,500 y101.604
1912-1919
1693 _ _East Sparta S. D., Ohio
5
3,000 100
4
1697_011 Clty, Pa
50,000 100
1693_ _El Campo Ind. Sch. Dist., Tex. 5
1,500 100
1571_ _Oklahoma City S. D., Okla.
1912-1931
167_ _El Dorado Spec. Sch. Dist.,Ark. 6
20,000
1930
(2 issues)
300,000 100
41920-1945
52_ _Elgin Ind. Sch. Dist., Tex_
5
4,500 100
A
1697_ _Omaha, Neb.(3 issues)
1930
175,000 101.393
1919-1923
4
107_ _Elgin Twp. S. D. No. 46, Ill
70,000
43( 1911-1935
1697__Onelda, N. Y
25,000 100.10
1693__Ellenville, N. Y
4.24 1915-1924
20,000
55_ _Orange Township, Ind
434 1911-1920
25,000
1911-1920
1693.. _Essex County, N. J
4
13,700 x100
6 . 1911-1920
1629_ _Osceola County, Iowa
12,655 102.255
_Eugene,
Ore.
5
107_
(2 Issues)
210,000 100
1697...Ossining (Town) Un. Fr. S. D.,
41915-1930 115,000
1693__Fairbury, Neb
5
4.35 1936-1939
N. Y
20,000 100.01
1935
52.. _Fairfax, Okla.(2 Issues)
6
50,000
5
1916-1923
1571_ Ottawa, Ill. (2 issues)
40,000 103.447
1911-1940
52_ _Fall River, Mass
4
125,000
5
55_ Ottawa Sch. Dist., Ohio
1911-1918
4,000 102.918
1911-1930
52_ _Fall River, Mass
4
101,500
1697_ _Oyster Bay (Town) S. D. No.
1911-1930
52_ _Fall River, Mass
4
50,000 100.188
9, N Y
50,000 100.61
434 1911-1932
1911-1940
52_ _Fall River, Mass
4
50,000
55_ Pageland Spec. S. D., So. Car_ 6
1940
8,500
1920
4
__
25,000
4%
55_ Palmyra, Mo
35,000 100
4% 1911-1916
1627_ _Fishkill Landing, N Y
6.000 100
170_ Palmyra Township, Ind
13,500
43-4 1911-1925
1940
167_ _Florence Co. S. D. No. 16, S.C. 5
20,000 101
1915
5,000 100
55_ _Paris, N.Y
431
1911-1920
5
107....Florida Sch. Dist., Ohio
2,000 102.7625 1571_ Peabody, Mass
1911-1916
12,000
4
1911-1930 650,000
108_ _Ft. Smith & Van Buren D.,111_ 5
1911-1920
20,000
4
1571_ Peabody, Mass
41920-1940
1694....Fountain Hill, Pa
4
41920-1950
10,000 100
5
10,500 101to104 1629 __Pearsall Ind. S. D., Tex
41915-1930
1627_ _Fullerton Sch. Dist., Neb
5
10,000 100.18
4.60 1915-1924
33,000 100
1571_ _Pelham Manor, N. Y
168_ _Fulton County, Ohio
434 1912-1917
20,000 100.085
23,000 101.429
55 _ _Pelham Un.Fr.S.D.No.1, N.Y.4.40 1915-1934
168__Fulton County, Ohio
434 1912-1917
40,000
98
18,000 102.224 1629_ Pendleton County, Ky
434 1911-1930
168__Fulton County, Ohio
434 1912-1916
4;
‘
, 1911-1914
15,500 100
5,000 101.40
1629_ Penn Yan, N. Y
1940
1627...Gadsden, Ala.(2 issues)
5
1911-1930
110,000
4
150,000 100.005
1 571_ Peoria, Ill
1627_ _Gallatin Co. S. D. No.24,Mont. 534 d1914-1918
4
8,000 100
19114913
2,973 100
1629_ _Perry, N. Y
1930
1627__Gailla County, Ohio
434
40,000 106.11
1930
150,000 106.17
1630__Phoenix Un. High S. D., Ariz_ 5
1627__Galveston Co. Sch. Dist., Tex_ 5
2,000 100
41930-1950
10,000 100
1630_ _Plainview Ind. Sch. Dist.. Tex. 5
52__Geauga County, Ohio
434 1911-1913
1,200 101
4 ;5 y'ly to 1934
1698_ Polk Sch. Dist., Pa
4,700 100
52_ _Geauga County. Ohio
4 % 1911-1921
8,400 102.65
5
1571_ Pontiac, Mich
6,000
1627_ _Geneseo Twp. High S. D., Ill.._ 4 35 1916-1930
45,000
55_ Poplar Bluff Sch. Dist., Mo_
15,000
5
41920-1930
108.. _Girard, Ohio
5
1912-1916
8,000 102.55
434 1919-1923
1030....Porter Township, Ohio
5,000 103.513
52...Gloversville, N Y
1045
4
2,000 100
1630_ _Port Lavaca Ind. S. D., Tex.... 5
21,956 100
•
41920-1950
108.. _Goidens' Bridge Fire DIs.,N.Y, 5
1911-1919
5,500 100
1698....Racine, Wls
20,000 100.825
454 1911-1930
ThT
A1113
CITY DEPAIITIYIENT,
'
4
/
/
Rate.
Name.
Page.
1630_ _Raleigh, No. Caro. (2 Issues) _ _ 5
55_ _Rava111 Co. S. D. No. 3, Mont_ 5
4
1630__Reading, Mass
434
110_ _Rochester, Pa
5
1698__Rockford, Ohio
4
1571__Rome, N. Y
227
THE CHRONICLE
JULY 23 1010.)
Maturity.
1912-1930
1918-1924
1932-1939
1911-1916
1930
Amount. Price.
150,000 103.076
$19,000 100
7,000 100.352
20,000 4.20 basis
3,000 100.833
I 2,000_ 100.20
123,000 100
15,000 100.073
3,500 100
16,700
18,000
100
5,000
5,000 100
39,000 100.012
20,000 101.78
10,000 102.58
35,000 y102.585
154,523
270,000 100
3,500 100
130.0001 100.317
30,0001
6,000 100.082
52,000 100
342,000 100
15,000
145,000
4,000
27,000 100
30,000 100
7.500
240,000 101.58
100,000 100
20,000 100
11,500 100
39,3941x100
30,000f
19,000 100
10,389 100.782
16,000 102.06
30,000 104.208
6,000 105.02
60,000 100
25,000 100.292
95,500 102.75
4,000 100
9,900 100
60,000 101
6.000 100
15,000 100
4,000
22,0001 101.396
16,0005
2,500 100
8,000 104.538
1940
4
1630_ _St. Bernard, Ohio
5
171_ ..St. Crolx Falls, Wis
1911-1920
5
No.9,La_
D.
55.. _St. Martin Par. S.
434 1911-1925
110_ _Salem Township, Ind
1917
4
1630_ _Sandusky, Ohio (2 Issues) _
'
5
Tex
1630_ _San Saba Ind. S. D.,
434
1630_ _Santa Barbara, Cal
1911-1930
5
_
_
Cal..
Dist.,
Sch.
Paula
55_ _Santa
1911-1930
1698_ _Schultz Twp. High S. D., So.C. 6
434
1572_ _Scottdale Sch. Dist., Pa
7
(9
issues)
232_ _Seattle, Wash.
1911-1920
6
111_ _Sheridan, Wyo
1917-1930
5
111_ _Sheridan Co. S. D. No.33,Wyo. 4
1911-1930
1510_ _Somerville, Mass
1911-1940
4
1510_ _Somerville, Mass
434
1630„Southampton, N Y
0
5
(11915-192
Neb
1698 _South Omaha,
1940
56_ _South San Joaquin hr. Dis.,Ca1.5
5
1950
ex.
Dist-T
Sch.
Ind.
_Stamford
1631_
1911-1925
4
1572_ _Stillwater, Minn
6
1911-1920
232_ _Stoutsville Sch. Dist., Mo
_
__
Ark_
Dist.,
Sewer
111.. _Stuttgart
1960
4%
232_ _Suffolk, Va
5
1699_ _Sullivan, Ind
1911-1030
434
Y
N.
1699_ _Syracuse,
1930
434
111__Tacoma, Wash
1921-1930
5
232_ _Tekamah Sch. Dist., Neb
454 1911-1920
1631_ _Terrace Park, Ohio
1911-1915
5
111__Toledo, Ohio (5 Issues)
1930
4
111_ _Toledo, Ohio
1930
4
1631_ _Trenton, N. J
1910-1911
5
1699_ _Troy, N. Y
7
Dak
So.
56_ _Tyndall,
436 1920-1929
1631_ _Utica, Ohio
1912-1923
1631_ _Van Buren Twp. S. D., Ohio_ _ 5
1925
4
111_ _Vernon, Conn
1916-1920
4
1699_ _Vincennes, Ind
1911-1950
5
(4
Cal.
Issues)
_Visalia,
171_
1911-1918
7
1699_ _Walsh County, No. Dak
1911-1913
5
111_ _Warsaw, N. Y
4
J
N.
111_ _Washington,
1911-1916
4
1631_ _Washington, Ohio
d1915-1920
1699_ _Washlngton Ind. S. D., Iowa_ 4
1911-1914
4
111_ _Watertown, Wis
1911-1950
5
1699_ _Watsonville, Cal
1911-1950
434
Cal
le,
_Watsonvil
1699_
5
112_ _Wellington, Ran
1913-1920
5
56_ _Wellington, Ohio
112„WellsvIlle Un. Fr. Sch. Dist.
56,000 101.093
436 1916-1938
No. 1, N. Y. (4 Issues)
36,522 100.273
1913
454
56_ _Westchester County, N. Y
85,208 102.602
1920-1936
36
4
Y
N.
County,
er
_Westchest
56_
90,000
434 1911-1940
56_ _West Hoboken, N. J
256,000 105.308
1940
5
56_ _West Hoboken, N. J
11,000
1911-1916
434
Ohio
1572_ _Weston,
45,000
56_ _White Plains, N. Y.(Town)._ 454
20,000 100.375
1911-1920
5
Y
N
boro,
56„Whites
75,000
1631_ _Whittier Union High S.D.,Cal• 5
92,428 101
1911-1920
5
1700_ _Wichita, Kans
30,000 100
1016-1925
4
Md
County,
1572„WicomIco
7.500 102.666
1920-1929
6
1632_ _Willcox Sch. Dist. No.13, Ariz.
9,000
172__WIllard, Utah
103.564
14,000
1923-1929
5
__
Ill_
District,
56_ _Winnetka Park
100.381
90,000
1911-1920
434
1573_ _Yonkers, N. Y.(2 issues)
80,000 101.61
434 1911-1950
1573_ _Yonkers, N.Y
29,035
5
_
_
issues)
(7
Ohio
56_ _Youngstown,
ies
Total bond sales for June 1910 (304 municipalit k$18,549,085
covering 398 separate issues)
to call in and after the earlier
a Average date of maturity. d Subject
Not Including $21,196,583 of temyear and mature In the later year. knot
belong in the list. x Taken by
porary loans reported, and which do
considerations.
sinking fund as an investment. y And other
REVISED TOTALS FOR PREVIOUS MONTHS.
Rate. Maturity. Amount. Price.
Name,
Pape.
$2.000
1911-1925
6
113__Foam Lake, Sask
5,000
1940
436
Ont
57__Galt,
_
40.000
1940
5
113__Grand Falls, N. B
1,000 -98 1911-1920
5
173__Grand View, Man
Sep57 ..Grattan Roman Catholic
8,500
1911-1940
5
arate Sch Dist.. Sask
12,000 100.854
1911-1930
5
67.. _Gretna S. D. No. 336, Man
15,000
1911-1935
454
113_ _Grimsby, Ont
1574_ _Hamilton Roman Catholic Sep16,000
3
arate Sch, Dist., Ont
6,680
5
57_ _Hanover, Ont
1,500
1940
456
57_ _Inverness, N. S
90.139
4,722
1911-1927
4
57_ Kingsville, Ont
188,000
1950
436
113_ _Lachine, Que
95.08
2,500
1925
5
1633_ _Lashburn, Sask
15,000
1911-1925
6
57.. _Lloydminster, Sask
227,1221
456 1911-1938
_London, Ont
1574 _London,
1939
7,000k 98.70
4
1574 _London, Ont
123,7005
1939
4
1578_ _London, Ont
35,000 100.50
1930
5
57_ _MacLeod. N.5
125,600 102.75
57_ _Medicine Hat, Alta.(8 issues)_ 5
17,500 100.856
1940
534
1701_ _Melville. Sask
75,000 109.59
1952
5
235__Outremont, Que
50,000 106.656
1911-1940
5
Ont
1574_ _Oxford County,
1,360
1911-1915
5
57__Parry Sound, Out
100,000 100
4 36 1911-1940
57_ _Peel County, Out
104.647
17,000
1911-1940
5
Out
173_ Pelham Township,
98.425
4,000
1915
5
57__Penticton, B C
11,000
1911-1925
5
113__Perth County, Ont
22,671
436
1701 _Peterboro, Ont
17,000
434 1911-1930
58 _ _Peterboro County, Ont
98.50
8,500
1940
436
113__Pleton, N. S
20,000 100.31
5
1930
1574 __Portage la Prairie S. D., Man_
12,000
1940
456
1574_ _Port Hope, Ont
6,000
4&4 Hf 1940
1701 _St. Marys, Out
24,174
11911-1930
6,000 101.70
1930
5
1634 _St. Vital, Man
65,000
1911-1940
58_ _Saskatoon Sch. Dist., Sask __ 5
16,000
436 1911-1940
1634 __Scarboro Twp., Out
10,000
6
1911-1925
58_Sedley, Sask
30,660 100.642
58 _ _Smith's Falls, Out.(3 Issues) _ 5
33,500
1930
434
113_ _Sydney Mines, N.S
7,5001 100
1930
556
1701 _Tofteld, Alta
1920
6
1,580J
1701_ _Tolleld, Alta
48,650
1940
454
58 _Truro, N.S
100.50
2,268,000
1950
4
C
B.
r,
58_ _Vancouve
12,000
434 1911-1930
113 Wentworth Co., Ont
17,903
1911-1927
4
58_ Windsor, Ont
18,629
1911-1928
4
58 Windsor, Out
20,000
454 1911-1930
58 _ _Windsor, Ont
12,575
1911-1920
5
58 Windsor, Ont
30,000
1940
434
1701 _Woliville, N.S
3,000 100
1930
5
58 Woodville, Ont
$4,126,253
Total sales of debentures in June
MONTHS.
ADDITIONAL SALES OF DEBENTURES FOR PREVIOUS
Rate. Maturity. Amount. Price.
Name,
Pape.
$1,000
1911-1920
6
Sask
1632__Bladworth.
1,350
1911-1920
6
1632_ _Bowden, Alta
3,000
1911-1925
6
1632_ _Buchanan, Sask
No.
Dist.
1632 -Chamberlain Sch.
10,000
536 1911-1930
1513, Alta
1,600 100.625
1701_ _Lonsdale S. D. No. 2394, Sask_ 534 1911-1920 260,000 100
1940
5
58.._Summerland, B. C
45,000
1911-1940
1634....Taber S. D. No. 933, Alta_ _ 5
All the above sales of debentures took place in May.
deThese additional May issues will make the total sales of
bentures for that month $28,854,569.
News Items.
Iowa.-Governor Indicted.-On July 20 the Polk County
Grand Jury returned an indictment against Governor Caris
roll, charging criminal libel. The prosecuting witness
ConJohn Cownie, a former member of the State Board of
trol.
on
New York City.-Tax Rates.-The Board of Aldermen
previous
The following items, included in our totals for give the July 19 approved the tax rates to be levied in the five borWe
which are given on the
months, should be eliminated from the same. .
reasons oughs for the year 1910. The rates, and 1908 figures being
page number of the issue of our paper in which the
valuation, are as follows, 1909
8100
for these eliminations may be found.
on:
Amount. given for comparis
1908.
Name.
Page.
1694_ _Fulton County, Ohio (4 Issues, May list)
106„Nashville, Tenn. (March list)
list)
1698_ _St. Lucie County, Fla. (April
Ilst)
1631_ _Westchester County, N. Y. (2 issues, February
$72,000
250,000
200,000
121,730
for
We have also learned of the following additional sales
previous months:
Price.
Rate. Maturity.
Name.
Page.
1915
5
1691_ _Benzle County, Mich
1940
5
1626_ _Cape May City, N J
1912
5
1626_ _Cape May City, N J
436 d1920-1930
51_ _Columbia S. D., Mo
436
52_ _Fort Atkinson, Wis
d19204030
168__Granite S. D., Utah (Apr11) _ __ 434
1569_ _Harper Sch. Dist., Cal
d1920-1940
1694_ _Hellertown S. D., Pa. (April) _ 4
11-1922
1627_ _Jefferson Sch. Dist., Cal19g
d1919-1949
Tex.
No.l.
1605_ _ Kent Co. Coin. S.D.
1916-1918
4
1628_ _Le Sueur Center S. D., Minn
d1915-1920
5
Utah
Dist.,
Sch.
1606_ _Midway
9
d1924-193
5
109_ _Montana
1040
5
1629_ _North East, Md
1930
5
Dak
So.
County,
Potter
170
1940
4
1571_ _St. Bernard, Ohio
1950
454
1608_ _Sanford, No. Caro
1913-1922
34
4
Pa
Rock,
__Slippery
1630
a1920
5
1631_ _Sunset Sch. Dist., Cal
1631_ _Virginia City Sch. Dist. No. 1,
d1920-1930
5
Mont. (April)
434
1632_ _Wilson, Kans
Amount,
$5,000 100
31,0001 100.375
9,0001
09.50
25,000
6,500 100.153
15,000 101.535
4,000 100.65
12,000 102 to104
5.000 100.737
7,200 100
4,500 100
7,000 100
125,000
7,500 105.125
50,000 100
12,000 100.583
25,000
5.000 100.10
8.500 102.421
Manhattan and the Bronx
Brooklyn
Queens
Richmond
1910.
$1.75790
1.81499
1.81079
1.87501
1909.
$1.67804
1.73780
1.72536
1.77522
$1.61407
1.67021
1.68031
1.71115
Bond Calls and Redemptions.
Missouri.-Bond Calls.-In their quotation pamphlet
dated July 15, Whitaker & Co.of St. Louis give the following
list of municipal bonds which have recently been called for
redemption:
All the above sales (except as indicated) are for May.
These additional May issues will make the total sales (not
including temporary loans) for that month $17,821,600.
23, for $500,
Aurora, Lawrence County-5% judgment funding bond No.
dated Sept. 8 1897, was called for payment July 1 1910.
Nos. 3
Aurora School District, Lawrence County-6% building bonds
be paid
and 4, for $500 each, dated June 14 1892, have been called and will
Aug. 1 1910.
45 and 46,for
Carthage, Jasper County-4% court-house bonds Nos.44,
be paid Aug. 1 1910.
$500 each, dated Aug. 11898, have been called and willrefunding
bonds, for
LexIngtown Township, Lafayette County-3;6%
1 1900, have been
$1,000 each, Nos. 14, 15, 16, 17, 18 and 19, dated Aug.
1910.
called and will be paid Aug. 1
8 inclusive, for $500 each,
Newton County-4% funding bonds, Nos. 1 topaid
Aug. 1 1910.
dated July 2 1900, have been called and will be
$1,000, dated Feb. 1 1908,
for
177,
No.
Rails County-4% refunding bond
has been called and will be paid Aug. 1 1910.
$500 each, dated
Slater, Saline County-436% bonds Nos. 1 and 2, for
Aug. 1 1905, have been called and will be paid Aug. 1 1910.
27, Range 8-8%
Stoddard County School District No. 21, TownshipAug.
24 1904, were
building bonds Nos. 1, 2 and 3, for $100 each, dated
called for payment July 6 1910.
bond No. 1,
building
6%
4-28-13No.
District
School
Wright County
1910.
for $200, dated June 1 1908, were called for payment June 1
JUNE.
Price.
100.51
Bond Proposals and Negotiations this week
10,000
15,000
ALITIES IN
DEBENTURES SOLD BY CANADIAN MUNICIP
Rate. Maturity. Amgunt.
Name.
Page.
1940
$41,600
454
235_ _Amherst, N. S
1911-1925
2,500
5
1700_ _Ashburn, Sask
7,000
1930
434
Ont
n,
58._Beaverto
1911-1930
10,000
4
1632_ _Brenda, Man
1,200
1911-1920
112_ _Cardlir S. D. No. 2115, Alta_ 5
1911-1025
3,500
5
1700_ _Chatham, Ont
800
1920
6
173_ _City View S. D. No, 2553,Sask. 4 M 1911-1930
30,034
1632_ _Cornwall Township,Ont
1911-1930
29,093
5
_
Ont_
1632_ _Cornwall Township,
1911-1930
15,000
173_ _Crossileld S. D.No. 2264,-Alta. 536
1930
75,000
5
56__Dauphin, Man
1911-1930
30,000
456
1701_ _Dunnville, Ont
40,000
1950
5
112Edmunston, N B
2,000
1911-1925
5
1633_ _Egremont Township, Ont_
5,000
1911-1920
5
112__Ellice, Man
10,000
112__Estevan, Sask
100.40
100
95.385
97.12
98.179
99.10
MOW
have been as follows:
Albany, N. Y.-Bond Sale.-We are advised that the
0
$95,000 bonds (the unsold portion of the issue of $563,20
4% bonds offered on June 7) have been disposed of at par
and accrued interest as follows: $66,500 to private investors
and $28,500 to the Washington Park Sinking Fund.
Afton School District (P. 0. Afton), Ottawa County,
Okla.-Bond Sale.-This district has sold an issue of $12,000
bonds.
28
THE CHRONICLE
[VOL. Laxxxx.
Anaheim, Orange County, Cal.-Bond Offering.-ProposButte School District No. 5 (P.
als will be received until 8 p. m. July 28 by Edward B. Neb.-Bonds Voted.-This district 0. Butte), Boyd County,
Merritt, City Clerk, for the $7,500 5% gold coupon inter- $16,000 5% coupon school-buildingrecently voted to issue
bonds, which will be
section-paving bonds mentioned in V. 90, p. 1503.
offered, we are informed, in the near future.
Authority an Act of the Legislature which became a law Feb. 25 1901,
and all Acts amendatory thereof. Denomination $500. Date July 2 1910.
Interest semi-annually at the City Treasurer's office. Maturity $500 yearly
on July 2 from 1911 to 1925 inclusive. Certified check on some bank in
California for 5% of bid, made payable to the City Treasurer, Is required.
Denomination $1,000. Date June 211910. Interest
June 21 1930,subject to call after 1920. The district hasannual. Maturity
no debt at present.
Denomination $1,000. Date July 1 1910. Interest semi-annually at
Ansonia National Bank. Maturity July 1 1935. Bonds are exempt from
all taxes and will be ready for delivery July 1. These bonds were offered
on June 27, when the only bid received was rejected. See V. 91, p. 50.
$6,000 electric-light-extension
bonds. Denomination $600. Maturity
$600 yearly on Jan. 1 from 1921 to 1930 inclusive.
9,000 water-works-extension bonds. Denomination $1,000. Maturity
$1,000 yearly on Jan. 1 from 1932 to 1940 inclusive.
Interest annually on Jan. 1 in New York City. The bonds are exempt
from all taxes. Bonded debt, including these Issues, $40,000.
Floating
debt $5,000.
Cairo, Grady County, Ga.-Bond Offering.-Further details are at hand relative to the offering of the two issues of
Ansonia, New' Haven _County, Conn.-Bond Offering.- 5% gold coupon or registered bonds mentioned in V. 90, p.
Proposals will be received until 8 p. m. Aug.8 by F. M. Drew, 1691. Proposals for these bonds will be received until 4
City Treasurer, for $35,000 4% gold coupon (with privilege p. m. July 28 by R. C. Bell, City Attorney. The securities
of registration) sewer bonds.
answer the following description:
Athol, Mass.-Temporary Loan.-This place, reports state,
has borrowed $15,000 from Loring, Tolman & Tupper of
Boston at 4.24% discount. Loan matures Oct. 5 1910.
Atlantic City, N. J.-Bond Offering.-Proposals will be
received until 12 m. Aug. 6 by A. M. Heston, City Comptroller, for the following 432% gold coupon (with privilege
of registration) bonds: $115,000 water, $102,000 park,
$50,000 paving and $74,000 school bonds.
Denomination $1,000. The park bonds are dated Jan. 1 1910 and the
other issues are dated July 1 1910. Interest semi-annually at the Hanover
National Bank in New York City. Maturity 35 years from date. The
bonds are tax-exempt and will be delivered on or about Aug. 25 1910.
Bids must be unconditional and be made on a blank form furnished by the
City Comptroller. A cash deposit or a certified check, made payable to the
aforesaid Comptroller, for $7,000 is required. The legality of the water
and paving bonds has been approved by Dillon, Thomson & Clay of New
York and of the park and school bonds by Hubbard & Masslich of New York,
whose opinion will be delivered to the purchaser free. The genuineness of
the bonds will be certified to by the Columbia Trust Co. of New York City.
Official circular states there is no litigation affecting these bonds or the
statutes under which they are issued; also that the city has never defaulted
in the payment of principal or interest.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Auburn, Me.-Bonds Proposed.-This city will issue "about
Jan. 1 1911" $25,000 sewer bonds.
Bay City, Mich.-Bond Sale.-On July 11 the $17,000 5%
local-improvement bonds described in V. 91, p. 107, were
awarded to the Detroit Trust Co. of Detroit at 101.881.
The bids were as follows:
Detroit Tr. Co., Detrolt_$17,321 00 C. F. Denison& Co., Clev$17,073 25
Old 2d Nat. Bk.,Bay C'y 17,300 00 Comm'i Bank, Bay City
par
E. H. Rollins & Sons,Chic17,128 35 Bay County Savings
Bay City Bank
17,110 50
Bank, Bay City
par
Maturity $10,000 July 15 1913 and $7,000 July 15 1916.
Bedford Township (P. 0. Bedford), Cuyahoga County,
Ohio.-Bond Offering.-Proposals will be received until
12 m. July 28 by E. J. Caskey, Township Clerk, for $9,000
5% highway-improvement bonds.
Date April 1 1910. Interest semi-annually at the Cleveland Trust
n Cleveland. Maturity one bond each six months from Oct. 1 1910Co.
to
April 1 1919 inclusive. Bid must be made on a form furnished by the
Township Clerk and be accompanied by a certified check on some solvent
bank in Cleveland for 5% of said bid, made payable to the Township
Treasurer.
Camden City, N. J.-Bonds Authorized.-An ordinance
has been adopted, it is stated, providing for the issuance of
$10,000 public-park-improvement bonds.
Bonds Proposed.-Reports state that the City Council has
adopted a resolution instructing the Finance Committee to }
prepare an ordinance providing for the issuance of $400,000 ?
water-system bonds.
Canton, Fulton County, Ill.-Bond Sale.-We are advised f
that the $10,000 4%%5-20-year(optional)coupon additionalsewer-extension bonds, described in V. 91, p. 107, were
awarded on July 12, the advertisement giving the date of
sale as July 17 having been erroneous. Bonds were sold to
N. W. Halsey & Co. of Chicago at par and accrued interest
less $170 for attorney's and other expenses. The other
bidders were:
Emery, Peck & Rockwood, Chicago-par, accrued Interest and a premium
of $10 less an allowance of $172 50.
Harris Trust & Savings Bank, Chicago-par and accrued interest
less an
allowance of $218. The bonds are dated July 1 1910.
afil
Canal, White County, Ill.-Bonds Voted.-It is reported
that an election held July 9 resulted in favor of the question
of issuing $10,000 5% sidewalk and sewer-extension bonds.
Casper, Natrona County, Wyo.-Bonds Proposed.-Reports state that this town will issue $90,000 bonds, the proceeds of which will be used for the following purposes:
$45,000 for a city-hall, $25,000 for sewerage extensions and
$20,000 for water-works-extensions.
Chambersburg, Franklin County, Pa.-Bonds Voted.The propositions to issue the following bonds, mention of
which was made in V. 91, p. 51, were favorably voted upon
at a recent election: $150,000 to improve the water supply,
$65,000 for a sewerage system and disposal plant, $15,000
for paving streets and $5,000 for a new fire house.
Chattanooga, Tenn.-Bonds Authorized.-The ordinance
providing for the issuance of the $100,000 street-improvement bonds mentioned in V. 90, p. 1568, has passed both
boards of the General Council and was approved by the
Mayor on July 6.
Collingswood, Camden County,' N. J.-Bond Offering.Proposals will be received until 4 p. m. Aug. 3 by Wm. Hambrecht Jr., Borough Clerk, for $18,500 432% funding bonds.
Bemidji, Minn.-Bond Sale.-The $15,000 5% permanent
improvement bonds voted on June 15 (V. 90, p. 1691) were
Denomination $500. Interest Jan. 1 and July 1. Maturity 20 years.
awarded recently, it is stated, to the Northern National Bank Certified
check for 5% of bonds bid for is required.
of Bemidji at par and accrued interest.
The official notice of this bond offering will be found among
Bonds Not ,Sold.-It is stated that no bids were received
the advertisements elsewhere in this Department. "
for the $12,000 paving bonds also voted on June 15.
Columbus, Ohio.-Bonds Sold to the Sinking Fund.-The
Berea, Cuyahoga County, Ohio.-Bond 0fering.-Proposbonds, aggregating $598,600, were disposed of to
als will be received until 12 m. July 25 by 0. R. Stone, following
the Sinking Fund during the quarter ending June 30:
Village Clerk, for the following 5% coupon bonds:
$40,000 4% public-Improvement (city's portion) bonds dated Oct. 4 1909
$16,000 electric-light-system bonds. Maturity $1,000 each six months
from April 1 1913 to Oct. 1 1920 inclusive.
5,000 water-main-extension bonds. Maturity $500 yearly on Oct. 1
from 1911 to 1920 inclusive.
Denomination $500. Date July 1 1910. Interest April 1 and Oct. 1 in
Berea. The bonds are tax-exempt and will be delivered within ten days
from the time of award. Certified check for 5% of bonds bid for, made
payable to the Village Treasurer, Is required. Purchaser to pay accrued
nterest.
Beverly, Essex County, Mass.-Bond Offering.-Proposals will be received until 8 p. m. July 28 by Chas. F. Lee,
City Treasurer, for $85,000 4% coupon school-house bonds.
and due Sept. 1 1921.
300,000 4% refunding sewer bonds dated April 1 1910 and due April 1 1930.
1,000 4% Rich Street extension bonds dated June 29 1910 and due
Set.
p 1 1930.
7,000 4% Noghten Street extension bonds dated June 29 1910 and due
Set.
p 1 1930.
5,000 4% park-Improvement bonds dated April 1 1910 and due Oct. 1
1930.
25,000 4 3.6% street-sprinkling bonds dated Feb. 14 1910 and due March 1
1912.
15,000 4 34% sundry assessment Issues.
205.600 4% sundry assessment issues.
Cornish, Jefferson County, Okla.-Bond Sale.-The $5,000
6% 20-year coupon bonds offered without success on May 9
(V. 90, p. 1568) were awarded on July 12 to the Continental
Trust Co. of Pittsburgh at 90.
Crete, Saline County, Neb.-Bond Offering.-Proposals
will be received until 8 p. in. July 25 by F. A. Novak, City
Boonville, Ind.-Bond Sale.-This city sold $6,000 4% Clerk, for the $40,000 5% sewer-construction bonds voted
bonds on July 19 to the People's Bank of Boonville at par. on May 17. V. 90, p. 1437.
Authority, election held May 17 1910. Denomination $500. Date
This was the only bid received.
July 1 1910. Interest semi-annually
Denomination $1,000. Date Aug. 1 1910. Interest semi-annually at
the office of the Old Colony Trust Co. In Boston. Maturity $5,000 yearly
on Aug. 1 from 1911 to 1915 inclusive and $4,000 on Aug. 1 from 1916 to
1930 inclusive. These bonds will be certified as to their genuineness by
Old Colony Trust Co. of Boston, which compttny will further certify thatthe
in
the opinion of Messrs. Ropes, Gray & Gorham this Issue is a valid obligation of the city.
Denomination $500. Date July 20 1910. Interest semi-annual.
turity $500 each six months from Feb. 1 1911 to Aug. 1 1916 inclusive,Maunpaid bonds being subject to call after Feb. 1 1913.
Brazoria County Drainage District No. 3, Tex.-Bonds
Registered.-An issue of $160,000 5% bonds was registered
by the State Comptroller on July 7.
Brush, Morgan County, Colo.-Bond Sale.-The $40,000
sewer-system-construction bonds mentioned in V. 90, p.
1503, have been taken by Conrad Walker of North Platte,
who is the contractor doing the work.
Bryan, Brazos County, Tex.-Bond Offering.-Proposals
will be received until 12 m. Aug. 10 by J. T. Maloney, Mayor,
- or $33,000 4% water, light and sewer plant-bonds.
Denomination $1,000. Interest semi-annually in Austin, New York
or
Bryan. Maturity 40 years, subject to call after 20 years.
at the Nebraska Fiscal Agency in
New York City. Maturity 20 years, bonds Nos. 1 to 30 inclusive being
subject to call after one year and Nos. 31 to 80 being subject
to call after
five years. Official circular states that there is no litigation threatened
or pending affecting the legality of said bonds; also that there
never been
any default in the payment of principal and interest of anyhas
bonds. Certified check or draft for $200 is required. Purchaser to pay accrued interest. Bonded debt at present, $26,000. Assessed valuation of real and
personal property 1909, $424,761.
Dade County (P. 0. Miami), Fla.-Warrant Sale.-On
July 5 the $75,000 6% funding and school-building warrants
offered but not sold on June 14 (V. 91, p. 167) were awarded
at par as follows: $25,000 to the Bank of Bay Biscayne,
Miami, and $50,000 to the First National Bank of Miami.
Date June 14 1910.
Interest semi-annual.
Maturity from 5 to 20 years.
Dayton, Ohio.-Bond Offering.-Proposals will be received
until 12 m. July 26 by Geo. W. Bish, City Auditor, for the
following coupon bonds:
JULY 23 1910.1
THE CHRONICLE
$20,000 4% water-works-Improvement and extension bonds. Denomination $1.000. Date May 1 1910. Maturity $1,000 yearly on
May 1 from 1915 to 1934 inclusive
8,300 5% street-Intersection (city's portion) bonds. Denomination
$1,000, except one bond of $1,300. Date June 1 1910. Maturity $1,300 on June 1 1912 and $1,000 yearly on June 1 from
1913 to 1919 inclusive.
10,000 4% asphalt-street-repair bonds. Denomination $1,000. Date
June 1 1910. Maturity on June 1 as follows: $3,000 in 19.14
$2,000 in each of the years 1915 and 1916 and $3,000 in 1917
6,700 5% storm-water-sewer-construction (city's portion) bonds. Denomination $1,000, except one bond of $1,700. Date June 1
1910. Maturity $1,700 June 1 1912 and *1,000 yearly on
June 1 from 1913 to 1917 inclusive.
Interest semi-annually in New York City. An unconditional certified
check for 5% of each Issue bid upon, made payable to the City Auditor,
and drawn on a national bank, is required. The bonds will be delivered
on July 26 1910. Bonds answering the description of the above two firstmentioned Issues were sold on June 7. V. 90, p. 1626. If they are the same
securities, we have not yet been advised why they are being re-advertised.
Dedham, Mass.-Temporary Loan.-A loan of $20,000,
payable Nov. 14 1910,was negotiated on July 19 with Blake
Bros. & Co. of Boston at 4.19% discount.
Derby School District (P. 0. Derby), Frio County, Tex.
Description of Bonds.-The $1,500 5% school-building bonds
voted May 14(V. 90, P. 1505) will be issued in denominations
of $500 each. Date April 10 1910. Interest annual. Maturity 20 years, subject to call after 10 years. We are advised that the bonds might be offered "about September."
Detroit, Mich.-Bond Offering -Proposals will be received until 11 a. m. July25 it is stated by David E.Heineman, City. Comptroller, for $25,000 33/2% library bonds.
Denomination $1,000. Date July 1 1910. Interest semi-annually in
Detroit or New York. Maturity July 1 1940. The bonds are exempt from
all taxes. Certified check for 2% of bonds bid for is required.
229
Authority, Act 248 General Assembly of 1905. Denomination $500.
Date July 1 1910. Interest semi-annually. Maturity *25,000 in 1915,
$25,000 in 1920, $50,000 in 1925 and $100,000 in 1930, the district reserving the right to redeem bonds at any interest-paying period at the following prices: First series at 101 and accrued interest; second series at 102 and
accrued interest; third series at 103 and accrued interest, and fourth series
at 104 and accrued interest; by giving 30 days' notice to the holders of the
bonds proposed to be redeemed. Bonds and coupons will be payable at the
office of the trust company selected by the purchaser. The bonds will be
secured by a deed of trust covering the real estate and appurtenances belonging to the district. Certified check for $5,000 is required. Bonds will
be ready for delivery within one month from date of sale. The district has
no debt at present. Assessed value of real and personal property for 1909,
$11,899,206. Actual value, "approximately" $35,000,000.
Fremont, Sandusky County, Ohio.-Bond Offering.-Proposals will be received until 12 m. July 25 by the Clerk of
Council for $15,000 CA% coupon Croghan St. improvement
bonds.
Denomination $500. Date July 1 1910. Interest semi-annually at the
office of the Sinking Fund Trustees in Fremont. Maturity $1,000 each six
months from April 1 1912 to April 1 1919 Inclusive. Certified check on
some bank in Fremont for $500 is required. Purchaser to pay accrued
Interest. The city reserves the right to issue a less amount than $15,000
or so much thereof as may be needed.
.
Gainesville, Hall County, Ga.-Bond Offering.-Proposals
will be received until July 25 by R. D. Mitchell, Mayor, for
the $100,000 gold coupon water, light, sewer and schoolbuilding bonds voted on April 2 N. 90, p. 998).
Authority Section 877, Georgia Laws. Date July 1 1910. Interest
semi-annually in New York City. Bonds are exempt from city taxes.
Denomination $1,000. Maturity 30 years.
Galveston County (P. 0. Galveston), Tex.-Bond Bids.The following bids, both of which were received on July 11
for the $500,000 5% 20-40-year (optional) public-road bonds
described in V. 90, p. 1694, were referred to the Chairman
of the Finance Committee: S. A. Kean & Co. of Chicago bid
par, providing the bonds be dated July 1 1910; and J. C.
Kelso of Galveston bid par and interest for $150,000 bonds.
Gary, Lake County, Ind.-Bonds Authorized.-Reports
state that an ordinance was passed on July 13 providing for
the issuance of $30,000 6% bonds. Denomination $5,000.
Glen School District No.4(P.0.Fultonville), Montgomery
County, N. Y.-Bond Sale.-The successful and only bid
received on July 14 for $1,800 53% heating and ventilatingsystem bonds offered on that day was one of par submitted
by the Fultonville National Bank of Fultonville.
Dodge City,Ford County, Kan.-Bond Sale.-The $80,C00
5% 20-30-year (optional) water-works bonds offered on
May 12 and described in V. 90, p. 1253, have been disposed
of, $19,000 to Spitzer & Co. of Toledo and the remainder to
local parties.
Dormont School District (P. 0. Dormont), Allegheny
County, Pa.-Bond Sale.-The Washington Investment Co.,
Inc., of Pittsburgh, recently purchased $25,000 432% 30year tax-free school-building bonds. We are informed that
these securities are in addition to the $40,000 432% school
bonds awarded to the same company on April 26.
Denomination $600. Interest annually on Dec. 1. Maturity $600 on
Dryden Union Free School District No. 8 (P. 0. Dryden),
Tompkins County, N. Y.-Bonds Awarded in Part.-Of an Dec. 1 in each of the years 1910, 1911 and 1912.
Gloversville, Fulton County, N. Y.-Bonds Not Soldissue of $25,000 4% gold coupon school-building bonds
offered on July 5, $20,000 were sold to the First National Bond Offering.-No bids were received on July 20 for the
$67,000 4% registered sewer-construction bonds offered
Bank of Dryden at par.
that day. Proposals are again asked for
Denomination $1,000. Date July 1 1910. Interest semi-annually at the (V. 91, p. 168) on
First National Bank in Dryden. Maturity $1,000 yearly on Jan. 1 from these bonds and will be received, this time, until 2 p. m.
1923 to 1947 inclusive. Bonded debt, not including this issue, $22,500.
Aug. 9. Maturity Nov. 1 1945.
Duluth Independent School District (P. 0. Duluth),
Grayson County (P. 0. Sherman), Tex.-Bond Sale.-On
on
were
bids
received
following
-The
Sale.
Minn.-Bond
July lithe State National Bank of Denison was awarded the
(optional)
20-30-year
coupon
$100,000
43/2%
the
for
July 18
$250,000 43/2% gold coupon Road Improvement District
school-building bonds described in V. 91, P. 52:
No. 1 bonds described in V. 91, p. 52. The price paid was
and
blank
free
bonds
furnish
Duluth-$100,025;
Bank,
also
First National
par and accrued interest. Maturity $6,250 yearly on Jan. 1
pay the accrued interest, if any.
N. J. Upham Co., Duluth-Par and accrued interest, provided a satisfac- from 1911 to 1950 inclusive, all being subject to call, howtory contract is entered into as to time and place of delivery.
Wm. R. Compton Bond & Mortgage Co., St. Louis-$98,500 on delivery of ever, after 10 years.
bonds to them. They to furnish bonds ready for signature free of cost.
Green Bay, Wis.-Bond Sale.-This city sold $19,000
A. B. Leach Fe Co., Chicago-Par and accrued interest, provided they be
43/9% coupon street-paving bonds on July 14 to Seasongood
allowed $2,490 for expenses.
Dunkirk, Hardin County, Ohio.-Bond Offering.-Pro- & Mayer of Cincinnati at 100.105 and accrued interest. A
posals will be received until 12 in. July 25 by J. T. Kinsey, list of the proposals received follows:
Cin_a$19,020 00 1 KelloggNat.Bk., Gr.Bay.a$19,000 00
Village Clerk, for $21,000 5% coupon water-works-construc- Seasongood&Mayer,
18,875 00
N. W. Halsey & Co., Chi_ a19.011 40 A. B. Leach & Co., Chi_
tion bonds.
Citizens' Nat.Bk.,Gr.Bay a19,000 00 E. H. Rollins & Sons, Chi al8,800 00
Authority, an Act of the General Assembly passed April 30 1908, amending Section 97 ot the Municipal Code of 1902. Denomination $500. Date
not later than Sept. 1 1910. Interest March 1 and Sept. 1 at the office of
the Village Treasurer. Maturity $500 each six months from March 1 1915
to Sept. 1 1935 inclusive. Certified check for 2% of the bonds bid for,
payable to the Village Treasurer, is required. Purchaser to pay accrued
Interest.
East Orange, N. J.-Bond Sale.-An issue of $30,000
school bonds has been sold at private sale to the Sinking Fund.
Ellsworth Township (P.0. Ellsworth), Mahoning County,
5-14-year
Ohio.-Bond Sale.-On July 19 the $10,000 4
(serial) road-building and improvement bonds described in
V. 91, p. 167, were awarded to the Farmers' National Bank
of Canfield at 101.366.
Englewood, Bergen County, N. J.-Bid Rejected.-The
only bid received on July 19 for the $13,000 43/9% 30-year
school bonds offered on that day (V. 91, p. 167) was one at
103.50 and accrued interest for 5s submitted by N. W. Halsey & Co. of New York City. This offer was rejected.
Erie County(P.O.Buffalo),N.Y.-Bond Sale.-On July 18
the $250,000 4% registered good-road bonds described in
V. 91, P. 167, were awarded to A. B. Leach & Co. of New
York City at 100.017 and accrued interest. A bid at par
for $46,500 of the bonds was also received from the Buffalo
Commercial Insurance Co. of Buffalo. Maturity part yearly
on July 1 from 1915 to 1936 inclusive.
Fort Bend County (P.0. Richmond), Tex.-Bond Offering.
-Proposals will be received until 10 a. In. July 25 by
G. C. TBaker Jr., County Judge, for $150,000 5% Road District No. 1 bonds.
Denomination $500. Date June 11910. Interest annually in New York
or Austin. Maturity 40 years, subject to call after 10 years. Certified
check for $1,000, payable to the County Judge, Is required with bids for
the whole issue. If bid is for part of issue, check must be for 1% of amount
bid for. The issue has been approved by the Attorney-General.
Total debt, this Issue. Assessed valuation for 1909, $3,147,612. Real
valuation of Road District (estimated) approximately $4,000,000.
McCartneyNat.Bk.,Gr.B. a19,000 00 Harris Tr.&Sav.Bk.,Chi_ a18,725 00
a And accrued interest.
The bonds are in denomination of $1,000 each and are dated July 11910.
Interest semi-annual. Maturity on Jan. 1 as follows: $1,000 yearly from
1915 to 1921 inclusive, $2,000 in each of the years 1922 and 1923, $3,000 in
1924 and $5,000 in 1925.
Greenville, Greenville County, So. Caro.-Bond Sale.The $138,000 bonds (the unsold portion of the three issues
of 5% coupon bonds aggregating $200,000, mentioned in
V. 91, p. 168) have been disposed of as follows:
$105,000 to A. G. Furman of Greenville and Geo. E. Gibbon of Charleston
and $33,000 to the American Pipe Mfg. Co. Of the $138,000 bonds, $90,000
are due July 1 1940 and were sold at a small premium, and $48,000 are due
part yearly on July 1 from 1911 to 1915 inclusive and were disposed of at par
Hamburg Union Free School District No. 1 (P. 0. Hamburg), Erie County, N. Y.-Bond Sale.-On July 18 the
$45,000 gold bonds described in V. 91, p. 168, were awarded
to N. W. Harris & Co. of New York City at 100.144 and accrued interest for 44s. Following are the bids:
N. W. Harris & Co., N. Y_a$45,0651A. B. Leach & Co.. N. Y_a $45,008
46,300
Adams & Co., New York_ _a45,0501S. A. Kean & Co.,Chicago_b
a For 4145. b For 6s.
Maturity $1,800 yearly on Jan. 1 frcim 1915 to 1939 inclusive. These
bonds were awarded on March 22 to Adams & Co. of New York City (V. 90,
p. 856), but were subsequently refused by that firm upon the advice of their
attorneys.
Harbor Special School District (P. 0. Ashtabula), Ashtacoubula County, Ohio.-Bond Sale.-The $100,000 4
pon school-building bonds described in V. 91, p. 168, were
sold on July 19 to Stacy & Braun of Toledo at 104.34 and
accrued interest. Following are the bids:
Well, Roth & Co., Cinc___ _$103,500
Stacy & Braun, Toledo_ __ $104,340
103,8021Hayden,Miller&Co.,
103,300
Cleve..
Otis 40 Hough, Cleveland_ _ _
Maturity part each six months from Aprll 1 1915 to Oct. 1 1944, inclusive.
'Havre de Grace, Harford County, ?dd.-Bond Sale.-On
July 21 the $27,000 5% funding, hose-house and streetimprovement bonds described in V.91, p. 168, were awarded,
the Havre de Grace Banking & Trust
Fort Smith Special School District(P.0.Fort Smith), Ark. according to reports, toat 102.625.
-Bond Offering.-Proposals will be received until 12•m. July Co. of Havre de Grace
Hazle Township School District, Lucerne County, Pa.
30 by John W. Morton, Secretary of School Board, for $200,Bond Sale.-Reports state that the $50,000 gold coupon
000 5% coupon school-building and equipment bonds.
230
THE CHRONICLE
high-school-building bonds offered as 4s on April 18
(V. 90, p. 1057) have been awarded to N. W. Halsey & Co.
of Philadelphia as 5s.
Highland Park, Mich.-Bond Sale.-On July 5 $89,000
33'% paving bonds were awarded to the City of Detroit
Sinking Fund at par. Denomination $1,000. Date July 2
1910. Interest semi-annual.
Hill County Common School District No. 98, Tex.-Bonds
Registered.-Bonds amounting to $12,500 were registered on
July 11 by the State Comptroller. The securities carry 5%
interest and mature in 40 years, but are subject to call after
10 years.
Inglewood School District, Los Angeles County, Cal.Description of Bonds.-The $55,000 school bonds disposed of
on.July 5 to the Wm. R. Staats Co. of Los Angeles at 103.20
(V. 91, p. 168) carry interest at the rate of 5%, payable
annually at the County Treasurer's office in Los Angeles.
They are in denominations of $1,000 each and are dated July 5 1910.
Maturity $1,000 yearly on July 5 from 1911 to 1915 inclusive and $2,000
yearly on July 5 from 1916 to 1940 inclusive. Total debt, this Issue
Assessed valuation for 1909, $1,491,087. Real valuation (eat.), $3,000,000:
Iowa City Independent School District (P. 0. Iowa City),
Iowa.-Bond Sale.-This district recently awarded $46,000
2-year (average) refunding bonds to Geo. M. Bechtel
5% 63/
& Co. of Davenport at 100.50. Purchasers to furnish blank
bonds and pay accrued interest. Denomination $1,000.
Date July 2 1910. Interest semi-annual.
Jackson, Mich.-Bonds Not Sold.-We are advised, under
date of July 16, that the sale of the $48,500 20-year paving,
sewer and bridge bonds, which were offered on June 30
(V. 90, p. 1694) "was referred to the Committee on Ways
and Means to place at best figure."
Jackson, Jackson County, Ohio.-Bond Offering.-Proposals will be received until 12 m. July 28 by N. A. Ridmont,
Village Clerk, for $16,000 4% coupon electric-light bonds.
[VoL. Lxxxxt.
Lima School District (P.0. Lima), Allen County, Ohio.Bond Offering.-Proposals will be received until 12 m.
July 26 by I. J. Miller, Clerk of the School Board, for the
$10,000 Lima College property refunding and the $11,000
school-building-addition 5% bonds recently authorized.
Denomination $1,000. Date Aug. 1 1910. Interest semi-annually at
the office of the Treasurer of the School Board. The $10,000 bonds mature
$1,000 yearly on Aug. 1 from 1911 to 1920 inclusive and the $11,000 bonds
mature $1,000 yearly on Aug. 1 from 1911 to 1921 inclusive. Certified
check for 2% of bonds bid for, drawn on any Llma bank or on any national
bank outside of said city, and made payable to the City Treasurer, Is
required.
Lockport, Niagara County, N. Y.-Bond Sale.-The following 5% bonds offered on July 13 were awarded on that
day to the Farmers' & Mechanics Savings Bank of Lockport
at par:
$1,000 bonds for fire purposes and public amusements. Denomination
$500. Maturity $500 on July 15 in each of the years 1911 and 1912,
2,000 bonds for the institution and maintenance of a dispensary for tuberculosis. Denomination $500. Maturity $500 yearly on July 15
from 1911 to 1914 inclusive.
3,000 bonds for a city hospital. Denomination $1,000. Maturity $1,000
on July 15 in each of the years 1911, 1912 and 1913.
5,000 highway-improvement bonds. Denomination $1,000. Maturity
$1,000 yearly on July 15 from 1911 to 1915 inclusive.
The above bonds are dated July 15 1910. Interest annually at the
County Treasurer's office.
T.02~111
Long Beach, Cal.-Bond Offering.-Proposals will be received until 7:30 p. m. July 29 by C. 0. Boynton, City Clerk,
for the $75,000 pier-improvement and the $50,000 Belmont
Heights pleasure pier 432% 1-40-year (serial) gold coupon
bonds voted on April 19. V. 90, p. 1193.
Date June 1 1910. Interest semi-annually at Long Beach.
check for 5% of bid, payable to the City Clerk, is required.
Certified
Denomination $500. Date Sept. 1 1910. Interest Is payable at the
Village Treasurer's office. Maturity Sept. 1 1950, subject to call after
Sept. 1 1915. The bonds are tax-exempt. Certified check for $200,
payable to the Village Treasurer, is required.
Los Angeles, Cal.-No Action Yet Taken.-Up to July 11
no action had yet been taken looking towards the issuance of
the $3,500,000 power-plant and $3,000,000 harbor improvement 43/2% bonds voted on April 19. See V. 90, p. 1193.
Lucas County (P. 0. Toledo), Ohio.-Bond Sale.-On
July 19 the $12,658 432% stone and gravel-road-building
bonds described in V. 91, p. 109, were awarded to Stacy &
Braun of Toledo at 100.914. Following is a list of the bidders and the premiums offered by the same:
Jacksonville, Fla.-Bonds Voted.-The election held
July 18 (V. 91, p. 53) resulted in favor of the proposition to
issue the $100,000 5% gold coupon street-improvement bonds.
Stacy & Braun, Toledo
$115 75
Citizens' Safe Deposit & Trust
Co., Toledo
110 50
Security Sav.Bk.&Tr.Co..Tol 103 80
Breed & Harrison, Clnelnn__$101 26
Davies-Bertram Co., Cin____ 95 00
Seasongood &
Cln
90 00
Spitzer & Co., Toledo
Mayer'
- 36 00
Lyons Union School District (P. 0. Lyons), Wayne
County, N. Y.-Bond Offering.-Reports state that proposals will be received until 7:30 p. in. July 26 by E. J.
4-year
-Proposals will be received until July 25 by the County Smith, Clerk Board of Education, for $10,000 43% 31
Judge for the $75,000 5% road bonds mentioned in V. 90, (average) bonds. Certified check for 10% is required.
Marble Cliff, Franklin County, Ohio.-Bond Offering.p. 1506.
Maturity 40 years, subject to call after 20 years. Certified check for Proposals will be received until 3 p. m. Aug. 5 by C. New$1,000, payable in Beaumont to the County Judge, is required.
house, Village Clerk, for $19,000 432% sewer bonds.
Johnson City, Washington County, Tenn.-Bonds Not
Denomination $500. Date July 15 1910. Interest April 15 and Oct. 15
the Huntington National Bank in Columbus. Maturity $1,000 yearly,
Sold.-Up to July 20 no sale had been made of the two issues at
beginning Oct. 15 1911. Certified check for $380, payable to the Village
of 5% coupon normal school bonds aggregating $150,000, Treasurer, is required. Purchaser to pay acrued interest. Bids to be
made on blanks furnished by the village. The village has no debt at pres
offered on July 9. See V. 91, p. 53.
ent. Assessed value of real and personal property 1910, $218,000.
Johnstown, Fulton County, N. Y.-Bond Offering.-ProMarion, Ohio.-Bond Sale.-The Marion National Bank
posals will be received until 10 a. m. July 29 by J. A. Colin, has purchased
par and accrued interest the $4,500 4%
Chamberlain,
for
$15,000 4 2% coupon school-site funding street at
City
bonds offered without success on June 8.
and building bonds.
V. 90, p. 1570.
Authority, special school elections held Nov. 12 1908 and Feb. 1 1910.
Marlin School District (P. 0. Marlin), Falls County, Tex.
Denomination $1,000. Date Aug. 1 1910. Interest on May 1 and Nov. 1
at the First National Bank in New York City. Maturity $1,000 yearly on -Bond Sale.-The $15,000 5% 10-40-year (optional)
schoolNov. 1 from 1915 to 1929 Inclusive. Purchaser to pay accrued interest.
building bonds voted on Feb. 23
90, p. 648) and regisKansas City, Kan.-Bond Sale.-On July 5 $60,633 5% tered by the State Comptroller on(V.
May
(V. 90, p. 1507)
special-improvement bonds were awarded to Spitzer & Co. have been bought by the First National13
Bank of Marlin at
of Toledo at par and accrued interest.
par and accrued interest.
Denomination $500. Date July 1 1910. Interest semi-annual. MaturMarshall, Harrison County; Tex.-Bids Rejected.-All bids
ity one-tenth yearly.
Kansas City School District (P. 0. Kansas City), Jackson received on July 12 for the $50,000 5% 10-40-year (optional)
County, Mo.-Bonds Not Yet Offered.-A circular received high-school bonds described in V. 91, p. 109, were rejected.
by us on July 20 stated that the date had not yet been set for
Masontown, Fayette County, Pa.-Bond Sale.-The
the sale of the $750,000 4% 20-year gold coupon school- Washington Investment Co., Inc., of Pittsburgh recently
building bonds voted on May 28 (V. 90, p. 1506).
purchased the $17,000 water and $8,000 sewerage 432% 30Kearney, Buffalo County, Neb.-Bond Offering.-Propos- year bonds voted (V. 91, p. 169) on June 28. The bonds are
als will be received until 8 p. m. July 22 for the $125,000 dated Aug. 1 1910 and are exempt from taxation.
CA% water-works bonds voted on June 7. V. 90, p. 1570.
Mauch Chunk, Carbon County, Pa.-Bond Offering.-ProAuthority Section 54, Chapter 13, Compiled Statutes of 1909. Denomi- posals will be received any time by Robert A. Heberling,
nation $1,000. Date July 1 1910. Interest semi-annually at the City Borough
Secretary, for $12,000 332% registered funding
Treasurer's office. Maturity July 1 1930, subject to tall after 5 years.
Official circular states that no bonds have ever 13een litigated;also that no bonds.
Denomination $1,000. Date Oct. 1 1910. Interest semi-annually at
the City Treasurer's office or at a bank in New York City designated by
the city of Jacksonville. Maturity Oct. 1 1936.
Jefferson County (P. 0. Beaumont), Tex.-Bond Offering.
default has ever been made on any municipal obligation.
Keene, N. H.-Bond Sale.-We are now advised that all
of the $15,000 4% 1-5-year (serial) paving bonds, part of
which were awarded on June 15 (V. 90, p. 1628), have been
disposed of. The price paid was 100.25.
•
Lake Charles, Calcasieu Parish, La.-Bonds Voted.-The
election held July 14 (V. 90, p. 1695) resulted in favor of
propositions to issue the $100,000 paving, $75,000 city-hall
and $25,000 fire-station 6% bonds.
Lakewood, Cuyahoga County, Ohio.-Bond Sale.-On
July 18 the $3,220 sewer and the $3,300 water-main 5% Donald Avenue assessment bonds described in V. 91, p. 169,
were sold to the West Cleveland Banking Co. of Cleveland
at 111.119 and accrued interest. Following is a list of the
bidders and the premiums offered by the same:
Authority Acts of Assembly April 20 1874, p. 65. Denomination $500.
Date July 1 1910. Interest semi-annually at the Mauch Chunk National
Bank or the Mauch Chunk Trust Co. Maturity 1940, subject to call
$1,000 yearly any time after 1915. Bonds are exempt from State tax.
Bonded debt, Including this issue, $18,000. Floating debt, $12,000.
Assessed valuation $2,100,427.
Mercer County (P. 0. Celina), Ohio.-Bond Sale.-The
$57,000 43% coupon Beaver Ditch Improvement No. 515
bonds described in V. 91, p. 169, were sold on July 16 to the
New First National Bank of Columbus at 101.098. A list,
of the proposals submitted follows:
New First N. Bk., Colum_$57,626 00 Barto, Scott & Co., Col_ _$57,370 00
Citizens' Bkg. Co., Celina_ 57,479 50 Otis & Hough, Cleveland._ 57,230 00
Breed & Harrison, Cin___ 57,427 50 Seasongood & Mayer, Cln_ 57,123 20
Hayden,Miller&Co.,Cleve_ 57,412 00
Maturity part yearly on Sept. 1 from 1911 to 1915 inclusive.
Meridian, Miss.-Bonds Voted.-The proposition to issue
the $275,000 coupon general-improvement bonds mentioned
in V. 90, p. 1570, was favorably voted upon at an election
held July 5 and 6. We are advised, under date of July 14,
that it will take 30 days or longer before they can be adverLewis County (P. 0. Lowville), N. Y.-Bonds Not Sold.- tised for sale.
No award was made on July 15 of the $20,000 4% court- • Middlesex County, Mass.-Note Offering.
-Proposals will
house-addition bonds described in V. 90, p. 1695.
be received until 11 a. m. to-day (July 23) by the County
West Cleve. Bkg. Co., Cleve_$725 00 Seasongood&Mayer, Cincin_
24
First Nat. Bank, Cleveland__ 267 00 Otis & Hough, Cleveland_ __ __$197
180 00
Cleveland Trust Co., Cleve__ 237 98 Hayden, Miller & Co., Cleve_ 158
00
Tillotson & Wolcott Co., Cie.. 228 85
JULY 23 1910.i
231
THE CHRONICLE
Commissioners, at their office in East Cambridge, for $35,000 awarded $10,000 4% 20-year high-school-completion bond's
to the State of Minnesota. Interest annually in July.
4% notes.
Authority Chapter 325, Acts of Legislature of 1910, and Section 40,
Nueces County Common School District No. 25, Tex.
Chapter 21, Revised Laws. Denomination $5,000. Date June 1 1910. Bonds Registered.-We are informed that $10,000 5% bonds
Interest semi-annual. Maturity $5,000 yearly on Dec. 1 from 1910 to 1916
will
be
Comptroller
on
July 6. Maturwere registered by the State
inclusive. ,Notes are exempt from taxation in Massashusetts and
certified by the Old Colony Trust Co. in Boston.
ity 40 years, subject to call after 10 years.
Offering.
Oonn.-Bond
County,
Middlesex
Middletown,
Nueces County Common School District No. 28, Tex.Proposals will be received until 4 p. tn. July 26 by J. P. Stow, Bonds Registered.-On July 6 the State Comptroller registered
Town Treasurer, for $244,000 4% coupon railroad refunding $6,000 5% 10-40-year (optional) bonds.
Ogallalla School Distrkt No. 1 (P. 0. Ogallalla), Keith
bonds.
County, Neb.-Bond Offering.-Proposals will be received
Authority an Act of the Legislature approved May 20 1909. Denomination $1,000. Date Aug. 1 1910. Interest semi-annually at the City Trust until 8 p. m. July 25 by W. Tresslar, Clerk of the Board of
Go. in Boston. Bonds are exempt from taxation to holders in Connecticut• Education, for
$22,000 school bonds.
Maturity Aug.1 1930. The bonds will be certified as to their genuineness
icy the City Trust Co. of Boston, which company will further certify that in
the opinion of Ropes, Gray & Gorham of Boston this issue is a valid obligation of the town. Certified check for $1,000, drawn on any national bank
or trust company, and made payable to the Town Treasurer, is required.
The official notice of this bond offering will be found among
the advertisements elsewhere in this Department.
Milford, Clermont and Hamilton Counties, Ohio.-Bond
Offering.-Proposals will be received until 12 m. July 30 by
H. L. Schroeder, Village Clerk, for $4,000 4% coupon waterworks-extension bonds.
Authority Section 2835, Revised Statutes, now Section 3939 of the
General Code. Denominations: 4 bonds of $400 each and 8 bonds of $300
each. Date May 1 1910. Interest semi-annual. Maturity $300 yearly on
May 1 from 1915 to 1922 inclusive and $400 yearly on May 1 from 1923 to
1926 Inclusive. Certified check for $100, payable to Village Treasurer, is
required. Purchaser to pay accrued interest; also furnish blank bonds at
his own expense.
Minneapolis, Minn.-Bonds Awarded in Part.-Of the
$800,000 grade-school and the $200,000 park 4% coupon
bonds offered on July 14 and described in V. 91, p. 54,
$100,000 of the former issue was disposed of, 850,000 to the
Northwestern National Bank and $50,000 to the Security
National Bank and $50,000 of the park bonds were awarded
to the First National Bank. The successful bidders are all
of Minneapolis and they paid par and accrued interest. The
grade-school bonds mature Jan. 1 1940 and the park bonds
are due July 1 1939.
Bonds Not Sold.-No award was made of the $250,000 4%
30-year coupon high-school bonds also offered on July 14.
Mitchell County (P. 0. Colorado), Tex.-Bonds Voted.It is stated that an election held recently resulted in favor of
a proposition to issue $30,000 good road bonds.
Montgomery County (P. 0. Dayton), Ohio.-Bond Offering.--Proposals will be received until 10 a. m. July 28 at
the County Auditor's office for $25,000 4% Memorial
Building equipment bonds.
Denominations: 20 bonds of $1,000 each and 10 bonds of $500 each
Date Aug. 1 1919. Interest semi-annually at the County Treasurer's office.
Maturity $2,500 yearly on Aug. 1 from 1911 to 1920 inclusive. Certified
check on a national bank or trust company for $500, payable to the Board
of County Commissioners, is required. J. 0. Donovan is Clerk of the Board
of County Commissioners. These bonds were offered on Juno 30 last, but,
as stated In V. 91, p. 109, no award was made on that day, as it was diseovered that the sale had not peen properly advertised.
Muskingum County (P.0. Zanesville), Ohio.-Bond Offering.-Proposals will be received until 12 m. July 25 by the
County Commissioners at the office of H. A. Buerhaus,
County Auditor, for $225,000 4% coupon Fifth St. Bridge
re-building bonds.
Authority, Sections 5643, 5644, 2434, 2435, 2438 and 2439 of the General
Code. Denomination *1,000. Date July 11910. Interest semi-annually
at the office of the County Treasurer. Maturity on July 1 as follows:
$15,000 yearly from 1919 to 1925 Inclusive and $20,000 yearly from 1926
to 1931 Inclusive. Bonds are exempt from all taxes. Certified check for
5% of bonds bid for, payable to the County Commissioners, is required.
Purchaser to pay accrued interest. These bonds were offered on June 27,
but all bids received on that day were rejected. See V. 91, p. 54.
Muskogee, Okla.-Bonds Not Yet Issued.-We are informed that the $50,000 5% 25-year park bonds voted on
April 5 (V. 90, p. 1000) have not yet been sold. Our informant states, however, that they will probably be purchased by the Sinking Fund.
Nebraska City School District (P.0. Nebraska City), Otoe
County, Neb.-Bonds Not Sold.-Up to July 16 no sale had
been made of the $80,000 high-school bonds offered on July 1
and described in V. 90, p. 1696.
New Barbadoes Township School District (P. 0. Hackensack), Bergen County, N. J.-Bond Sale.-The Hackensack
Trust Co. of Hackensack, offering par and accrued interest,
was the successful bidder on July 18 for $16,400 5% school
bonds offered on that day.
Denomination $1,000, except one bond of $400. Date July 1 1910. Interest semi-annual. Maturity $400 on July 1 1911 and $2,000 yearly 013
July 1 from 1912 to 1919 inclusive. These bends were offered without sueGass as 4 AO on July 11.
New Rochelle, N. Y.-Bond Sale.-The $4,500 432%
registered park bonds offered on July 12 and described in
V. 91, p. 110, were awarded to Adams & Co. of New York
City for $4,501 25, the price thus being 100.027. Maturity
May 1 1916.
Niagara Falls, N. Y.-Bond Offering.-Proposals will be
received until 11 a.m. Aug. 1 by Thos. H.Hogan, City Clerk,
0 gold registered bonds:
for the following 4%7
$400,000 water bonds, Series "A." Matur1ty Jan. 1 1940. Certified check
for $7,000 is required. Authority Chapter 145, Laws of 1908,
and Chapter 494, Laws of 1909. Date Aug. 1 1910. Bonds are
exempt from all taxes.
114,000 sewer bonds, Series "0." Certifiedlcheck for $2,000 is required.
Denomination $1,000. Interest Jan. 1 and July 1 at the Hanover National Bank in New York City. in New York exchange. Certified checks
for the above amounts must be made payable to the City Clerk. The bonds
will be delivered within three weeks from the date of award.
Northfield School District (P. 0. Northfield), Rice County,
Minn.-Bond Sale.-This district, we are advised, has
Date July 1 1910. Interest semi-annual.
1919 to 1929 inclusive.
Maturity $2,000 yearly from
Okanogan, Okanogan County, Wash.-Bond Offering.Proposals will be received until July 28 by A. R. Dickson,
Town Clerk, for $6,000 6% water-works bonds. Maturity
10 years.
Oklahoma City, Okla.-Bond Offering.-Proposals will be
received until 5 p. m. July 25 by Bob Parman, City Clerk,
for the following bonds voted in April (V. 90, p. 1059):
$150,000 for park-site, $50,000 for park-improvement, $150,000 public-fire-station and equipment, $10,000 police-alarmsystem and $15,000 street-equipment. Bids are requested
based on both 43,•% and 5% bonds.
Interest semi-annual. Maturity 25 years. Certified check for $10,000,
made payable to the City Clerk, is required. Bonds to be delivered as
soon as their legality Is established. These bonds were offered on June 13,
but all bids received on that day were returned to the bidders unopened.
See V. 90, p. 1629.
Ontario School District, San Bernardino County, Cal.Bonds Voted.-The propositioh to issue the $12,500 5%
school-building bonds mentioned in V. 90, p. 1697, carried
by a vote of 62 to 12 at the election held July 1. Interest
semi-annual. Maturity part yearly from 15 years to 40
years inclusive.
Opelika, Lee CoUtity, Ala.-Bonds Voted.-The proposition to issue the $83,000 5% 30-year municipal water and
light bonds mentioned in V. 91, p. 110, carried at the election
held July 14.
0,smond School District (P. 0. Osmond), Neb.-Bond Offering..-Proposals will be received by B. S. Leedom for $12,000 5% bonds.
Interest annually from April 1 1910. Maturity mem on April 1 in each
of the years 1915, 1920 and 1925.
Denomination $1,000.
Ozark School District (P. 0. Ozark), Christian County,
Mo.-Bond Sale.-The $6,000 school-building-addition bonds
voted on May 31 (V. 90, p. 1571) have been sold.
Paxville School District No.19(P.0.Paxville), Clarendon
County, So. Caro.-Bond Sale.-The $12,000 53i% 30-year
school-building bonds proposals for which were asked until
July 15 (V. 91, p. 55) were sold to C. H. Coffin of Chicago
for $12,001, less $600 for expenses. Denomination $500.
Date July 11910. Interest annual.
Philadelphia, Pa.-Bonds Over-subscribed.-The subscription list to the $5,000,000 4% coupon or registered bonds
offered over the counter at par and accrued interest last
Monday, July 18 (V.91, p. 170), closed July 20, the subscriptions received up to that time having aggregated more than
$8,000,000. In the allotment of the loan, preference was
given to individual subseribers, and it is announced that the
applications from such investors practically exhausted the
loan.
Denomination $100 and multiples. Date July 1 1910. Interest semiannually at the office of the city's fiscal agent. Maturity July 1 1940. The
bonds are exempt from all taxes in Pennsylvania.
Pittsburgh, Crawford County, Kan.-Bends Voted.-The
electichi held on July 12 to vote on the question of issuing
the $300,0010 water-plant-construction bonds mentioned in
V. 91, p. 55, resulted in a vote of 1,747 "for" and 262
"against." Interest not to exceed 4%.
Pocatello, Bannock County, Idaho.-Bonds Voted.-It is
reported that an election held June 28 resulted in favor of the
issuance of $164,000 trunk sewer bonds.
Port Clinton, Ottawa County, Ohio.-Bond Offering.Proposals will be received until 12 in. July 26 by J. A. Singler,
Village Clerk, ior $15,000 5% coupon water-works-improvement bonds.
Authority, Section 3949 of the General Code. Date June 1 1910. Interest annually in Port Clinton. Maturity $1,000 yearly on June 1 from
1911 to 1925 Inclusive. Certified check for $500, drawn on a bank In
Ottawa County, and made payable to the Village Treasurer, is required.
Purchaser to pay accrued Interest.
Portland, Ma.-Note Offering.-Proposals will be received
until 11:30 a. m. July 26 by S. S. Gilbert, City Treasurer, for
the discount of $100,000 notes issued in anticipation of taxes.
The notes will be dated day of issue and mature Sept. 30 1910.
At the same time and place the City Treasurer will also
offer $380,000 notes, interest to follow. Date "day of issue."
Maturity Jan. 1 1911.
Both issues are payable at the First National Bank of
Boston and certified to by the Old Colony Trust Company
of Boston.
Portsmouth, Rockingham County, N. H.-Bond Offering.
-Proposals will be received until 11 a. m. July 28 by H. B.
Prior, Auditor, for $15,500 4% coupon permanent improvement bonds.
Denomination $500. Date Aug. 1 1910. Interest semi-annuilly at the
Old Colony Trust Company in Boston or at the City Treasurer's office In
Portsmouth. Maturity, $1,000 yearly on Aug. 1 from 1911 to 1916 inclusive, *5,000 Aug. 1 1916, $5,500 Aug. 1 1917. The bonds will be milifled
232
THE CHRONICLE
as to their genuineness by the Old Colony Trust Co. of Boston, which company will further certify that the legality of the issue has been approved by
Storey, Thorndike, Palmer & Dodge of Boston.
Provo City, Utah County, Utah.-Bond Sale.-The
$90,000 5% 10-20-year (optional) coupon water-worksextension bonds proposals for which were asked until July 11
(V. 91, p. 110), were sold on July 13 to E. H. Rollins & Sons
of Denver at par and interest.
Quincy, Norfolk County, Mass.-Bond Offering.-Proposals will be received until 12 m. July 27 by John Curtis,
City Treasurer, for $56,825 432% coupon "consolidated
miscellaneous loan of 1910" bonds.
Denomination $1,000, except one bond for $825. Date July 1 1910.
Interest semi-annually at Boston. Maturity $11,825 on July 1 1911,
$6,000 yearly on July 1 from 1912 to 1914 inclusive. $5,000 yearly on July 1
from 1915 to 1918 inclusive, $4,000 on July 1 1919 and $3,000 on July 1
1920. Bonds are exempt from taxation in Mass. Bonds will be certified
as to their genuineness by the Old Colony Trust Co. of Boston, which company will further certify that the legality of this issue has been approved
by Messrs. Ropes, Gray & Gorham of Boston.
[VOL. Lxxxxi.
Siverly, Venango County, Pa.-Bond Sale.-This borough
has awarded $8,000 5% tax-free improvement bonds to the
Oil City Trust Co. of Oil City.
Springfield School District (P. 0. Springfield), Ohio.Bond Sale.-The American Trust & Savings Co. of Springfield purchased on July 16 the $100,000 43/9% 15-24-year
(serial) coupon high-school building bonds described in V. 91,
p. 111. The price paid was 105.94 and accrued interestan interest basis of about 4.057%.
Spring Hill School District No. 4 (P. 0. Spring Hill),
Johnson County, Kan.-Bond Offering.-Proposals will be
received at any time by the Board of Education for $4'000
”i% coupon school-addition bonds.
Denomination $500. Date July 1 1910. Interest semi-annually at the
County Treasurer's office. Maturity $500 annually for 8 years. Bonds
are not subject to State taxes. Total debt, this issue. Assessed valuation, $636,256.
Spring Valley, Pierce County, Wis.-Bond Offering.Radford, Montgomery County, Va.-Bond Offering.- Proposals will be received until 12 m. July 28 by H. J. Park,
Proposals will be received until 8 p. m. July 28 by J. D. Bird, Village Clerk, for $5,000 6% village-hall-construction bonds.
Authority election held May 27 1910 Date July 2 1910. Interest
Clerk of City Council, for the following 5% bonds, $35,000 annual.
Maturity $500 yearly on July 2 from 1911 to 1920 inclusive
for public school improvements, $25,000 for street and court- Certified check
for 5% of the issue, is required The village has no bonded
house improvements, $21,000 for normal school property debt at present. Assessed valuation $360,000.
and $17,000 for refunding bonds of the old town of Radford.
Stamford, Conn.-Bids.-The following bids were received
Authority an election held Oct. 2 1906. Denomination $1,000. Date on July 19 for $35,000 4% sewer bonds and $30,000 4
July 1 1910. Interest semi-annually at the City Treasurer's office. Matur- street-paving
bonds offered on that day:
ity July 1 1940. Bonds are exempt from city taxation.
Merrill, Oldham & Co., Bost_101.0891E. H. Rollins so Sons, Boston_100.03
Rankin County (P.0. Brandon), Miss.-Bonds Authorized. R. L. Day & Co., Boston_ _ _ _100.29
Date July 1 1910. Interest semi-annually at the City Treasurer's office.
-Papers state that the Board of Supervisors has decided to Maturity
25 years. These bonds were offered but not sold on June 29.
issue $30,000 road bonds.
Stanton School District No. 3 (P. 0. Stanton), Stanton
Common
School
District
County
Roberts
No. 1, Tex.- County, Neb.-Bond Offering.-Proposals will be received
Bond Sale.-The $20,000 5% 10-20-year (optional) coupon until 2 p. m. July 25 by the School Board, W. W. Young,
school-house bonds described in V. 91, p. 110, were sold on President, for the $20,000 5% coupon high-school-building
July 15 to funds of Roberts County at 101.33-a basis of bonds voted on May 20. V. 90, p. 1440.
about 4.831% to the optional date and about 4.896% to full
Authority, Cobbey's Statutes, Section 11,318 et seq., approved Feb. 26
1879. Denomination $1,000. Date July 1 1910. Interest semi-annually
maturity. A bid of $20,210 was also received from S. A. at
the County Treasurer's office in Stanton. Maturity July 1 1930, subKean & Co. of Chicago.
ject to call on or after July 1 1920. The district has no debt at present.
The bonds are in denomination of $500 each. Total debt, this issue
Stoutsville School District (P. 0. Stoutsville), Monroe
Assessed valuation, $1,182,259.
County, Mo.-Bond Sale.-An issue of $4,000 6% 1-10-year
Rochester, N. Y.-Temporary Loan.-On July 21 the (serial)
school-building bonds was disposed of on June 21 to
$200,000 8-months renewal water-works-improvement notes the Hannibal
Trust Co. in Hannibal. Denomination $400.
offered on that day (V. 91, p. 170) were awarded to Kissel, Date June 211910.
Interest annual.
Kinnicut & Co. of New York City at 4.60% interest.
Sterling County Common School District No. 1, Tex.Note Offering.-Proposals will be received until 2 p. m.
July 28 by Chas. F. Pond, City Comptroller, for $549,000 Bonds Registered.-On July 7 $4,500 5% 10-20-year (oprenewal water-works-improvement notes, to be drawn with tional) bonds were registered by the State Comptroller.
Stonewall County (P.0. Aspermont),Tex.-Description of
interest and payable 8 months from Aug. 1 1910 at the Union
Bonds.-We are informed that the $7,000 jail bonds voted on
Trust Co., New York.
Salem, Mass.-Bond Sale.-The following 4% bonds were Feb.5(V.90, p. 651) carry interest at the rate of 5%,payable
awarded on July 19, it is stated, to Merrill, Oldham & Co. of annually on April 10. Denomination $500. Date May 10 1910.
Maturity May 10 1950, subject to call after May 10 1920.
Boston at 100.019:
Suffolk, Nansemond County, Va.-Bond Sale.-We are
$25,000 1-10-year (serial) school bonds.
18,000 1-9-year (serial) bridge bonds.
advised that the $30,000 432% 50-year coupon or registered
5,000 1-5-year (serial) municipal bonds.
redemption bonds offered on June 14 and described in V. 90,
St. Lucie County (P. 0. Fort Pierce), Fla.-Bond Sale.- p. 1572, were taken at par by the parties holding the old
On July 18 the $200,000 5%.good-road bonds described in bonds which were redeemed.
V. 90, p. 1698, were awarded to the Atlantic National Bank
Bonds Not Sold.-Our informant further states that the
and C. L. Bagwell & Co., both of Jacksonville, and the Bank $40,000 43/9% 50-year coupon school bonds, proposals for
of Fort Pierce, Port Pierce, at their joint bid of 100.2625. which were asked until July 1 (V. 90, p. 1572), have not yet
Maturity $20,000 in 10 years, $30,000 in 15 years, $40,000 been issued, "awaiting some technical arrangement by the
in 20 years, $50,000 in 25 years and $60,000 in 30 years.
School Board."
Sandusky, Ohio.-Bond Award.-On July 18 the three
Tallmadge, Summit County, ebhio.-Bond Election.-A
issues of 4% 9-year bonds, bids for which were received on special election will be held to-day (July 23), it is stated, to
July 11 (V.91, p. 171), were awarded to the Citizens' Banking vote on the question of issuing $15,000 high-school-construcCo. of Sandusky as follows: $20,000 bonds at 100.125, tion bonds.
$11,500 bonds for $11,525, or 100.217, and $15,000 bonds
Tekamah School District (P. 0. Tekamah), Burt County,
for $15,025, or 100.166. Purchaser to pay accrued interest.
Bonds Not Sold.-No award was made of the $400 4% Neb.-Bond Sale.-On June 29 the $20,000 5% 11-20-year
9-year bonds also offered on July 11. We are informed that (serial) school-addition bonds described in V. 90, p. 1699,
they will be offered at private sale by the Mayor, the Finance were sold to the Bankers' Reserve Life Insurance Co. of
Omaha at par and accrued interest.
Committee of the Council and the City Auditor.
Temple, Bell County, Tex.-Bonds Registered.-The $100,Schenectady County (P. 0. Schenectady), N. Y.-Bond
5% 20-40-year (optional) school bonds offered without
Sale.-The $100,000 43/9% coupon (with privilege of regis- 000
tration) court-house and jail-construction and site-purchase success on May 10 (V. 90, p. 1631) were registered on July 14
bonds offered on July 15 were sold to Isaac W. Sherrill of by the State Comptroller.
Texarkana, Tex.-Bonds Registered.-On July 13 the State
Poughkeepsie at 103.27 and accrued interest. Following
Comptroller registered $15,000 5% fire-apparatus bonds due
are the bids:
in 40 years, but subject to call after 15 years.
Isaac W. Sherrill, Poughk___103.27 Adams & Co., New York_ _ _ _102.32
Spitzer & Co., New York_ _ _ _103.05 R. L. Day & Co., New York_101.89
Texarkana Improvement District No, 1, Tex.-Bonds
ist. W. Harris & Co., N. Y102.859 KountZe Bros., New York_ --.101.79
N. W. Halsey & Co., N. Y_102.787 Farson, Son & Co., N. Y- _101,623 Registered.-We are advised that $3,500 5% 10-40-year
A. B. Leach & Co., N. Y__ _ _102.67 R. M. Grant & Co., N. Y101.333 (optional) bonds were registered by
the State Comptroller
Estabrook & Co., New York 102.55 Prov. S. B. & Tr. Co., Cin101.31
W.C. Langley & Co, N. Y-102.397 Parkinson & Burr, N. Y__- _101.141 on July 13.
Interest
1910.
$1,000.
Jan. 1 and July 1
Denomination
Date Aug. 1
Tipton, Moniteau County, Mo.-Bond Offering.-Further
at the Schenectady Trust Co. in Schenectady. Maturity $4,000 on July 1
details are at hand relative to the offering on July 25 of the
1925 and $12,000 yearly on July 1 from 1926 to 1933 inclusive.
Seattle, Wash.-Bond Sales for June.-The following 7% $17,500 5% electric-light-and-power-plant-erection bonds,
bonds, aggregating $154,523 39, were disposed of during bids for which were rejected on June 27. V. 91, p. 56. Proposals for these bonds will be received by T. L. Callison,
June:
Mayor; P. C. Flood, City Treasurer, or Jos. Sommerhauser,
$1,865 28 paving bonds dated June 4 1910 and due June 4 1915.
14,434 40 grade and sidewalk bonds dated June 4 1910 and due June 4 1915. City Clerk.
22,734 84 grade and sidewalk bonds dated June 9 1910 and due June 9 1915.
Tulare, Tulare County, Cal.-Bond Offering.-Proposals
4,880 70 paving bonds dated June 9 1910 and due June 9 1915.
will be received until 7:30 p. in. July 25 by E. Oakford, City
8,640 71 re-grading bonds dated June 10 1910 and due June 10 1915.
6,372 77 paving bonds dated June 27 1910 and due June 27 1915.
17,081 24 grade and sidewalk bonds dated Juno 27 1910 and dud June 27 Clerk, for the $80,000 5% sewer-system-construction gold
coupon bonds voted (V. 90 p. 1510) on May 19.
1915.
71,399 64 paving bonds dated June 27 1910 and due June 27 1920.
Denomination $1,000. Date July 1 1910. Interest semi-annually at
7,113 81 grade and sidewalk bonds dated June 24 1910.
The above bonds are subject to call at any time.
•
the City Treasury. Maturity $2,000 yearly on July 1 from 1911 to 1950
inclusive. A cash deposit or a certified check, made payable to the City
Clerk, for 2% of bonds bid for, is required. This city has no debt at presShreveport, La.-Bond Sale.-The $50,000 4% 40-year ent.
Assessed valuation apRroximately $1,083,518.
and
bonds
-ground
park
voted
on
Feb.
24
fair
(V.. 90, p. 650)
Turlock Irrigation District (P. 0. Turlock), Stanislaus
were recently awarded to the First National Bank of Shreve- County, Cal.-Bonds to Be Offered Shortly.-It is expected
port at par. Denomination $1,000. Date March 1 1910. that the $100,000 bonds voted on April 15 (V. 90, p. 1196)
Interest semi-annual.
will be ready for sale in the near future.
233
THE CHRONICLE
JULY 23 1910.)
•--- •
Tuxedo (Town) Union Free School District No. 6, Orange
County, N. Y.-Bond Sale.-On July 20 N. W. Halsey &
Co. of New York City were awarded the $15,000 4%
1-15-year (serial) gold registered bonds described in V. 91,
p. 111, at 100.268 and accrued interest. The following
bids were received:
N. W.Halsey & Co., N. Y_ _ _100.268 Adams & Co.. New York_ -- 100.11
Geo. M. Hahn, New York 100.13 I
All bidders offered accrued interest in addition to their bids.
Uhrichsville, Tuscarawas County, Ohio.-Bond Offering.Proposals will be received until 12 m. July 30 by Henry 0.
Snyder, Village Clerk, for $5,000 43% coupon fire-department-improvement bonds.
Authority, Section 2835, Revised Statutes. Denomination $500. Date
May 1 1910. Interest semi-annually at the Village Treasurer's office. Maturity May 1 1935. The bonds are tax-exempt and will be delivered within
10 days from the time of award. Certified check for $250, made payable
to the Village Treasurer, is required.
Union County School District No. 5, Ore.-Bond Sale.The $50,000 5% 10-20-year (optional) gold coupon highschool-building bonds described in V. 91, p. 111, were bought
on July 15 by C. H. Coffin of Chicago at 100.102 and accrued
interest. Bids at par were also received from E. H. Rollins
& Sons, S. A. Kean & Co. and John Nuveen & Co., all of
Chicago.
Upper Sandusky, Wyandot County, Ohio.-Bond Sale.Johnson St. paving bonds mentioned in
The $16,000
V. 91, p. 111, have been sold, it is stated, to the Security
Savings Bank & Trust Co. of Toledo for $16,893 (105.581)
and blank bonds.
Upshur County Common School District No. 15, Tex.Bonds Registered.-An issue of $2,000 5% 10-20-year (optional) bonds was registered on July 11 by the State Comptroller,
Utica, N. Y.-Bond Sale.-The following award was made
on July 21 of four issues of 4%% registered bonds offered on
that day: $50,000 parkway-construction and $60,000 overcrossing-expense bonds, awarded to N. W. Halsey & Co.
of New York City at 101.704 and 101.703 respectively, and
$6,500 general-hospital and $5,194 22 Mohawk Street paving bonds awarded to A. B. Leach dr Co. of New York City
at 100.769 and 100.111 respectively. Following are the bids
$5,194 22
$6,500
$60,000
$50,000
bonds.
bonds.
bonds.
bonds.
N. W. Halsey & Co., N. Y__$50.852 00 $01,022 00
5,200 00
6,550 00
A. B. Leach & Co., N.Y........ 50,710 00 60,840 00
5,195 22
6,502 00
N. W.Harris & Co., N. Y___ 50,794 00 60,952 00
50,778 00 60,933 60
6,55000
Estabrook do Co., N. Y
Farson, Son & Co., N. Y_ _ _ _ 50,712 00 60,854 00
50,709 00 60,850 80
W.C. Langley & Co., N. Y
6,515 00
Adams & Co., New York_ _ _ _ 50,705 00 60,846 00
6,533 00
50,636 00 60,763 00
Kountze Bros., New York
R. L. Day & Co., New York 50,606 50 60,727 80
5,194 22
6,535 04
Blodget & Co., New York_ _ _ 50,519 50 60,623 40
5,194 22
6,500 00
E. H. Rollins & Sons, Boston 50,500 00 60,600 00
6,511 05
50,450 00 60,528 00
O'Connor & Kahler, N. Y
50,415 00 60,498 00
Parkinson de Burr, N. Y
5,196 51
W. N. Coler & Co., N. Y__ _ 50,315 00 60,378 00 -6,-511-on
White, Weld & Co., N. Y
50,205 00 60,246 00
The bonds answer the following description:
$50,000 00 parkway-construction bonds dated July 1 1910. Maturity
$2,500 yearly on July 1 from 1911 to 1930 inclusive.
• 60,000 GO over-crossing-expense bonds dated Aug. 1 1910. Maturity
$5,000 yearly on Aug. 1 from 1911 to 1930 inclusive. .
6,500 00 general-hospital-repair bonds dated Aug. 1 1910. Maturity
$500 yearly on Aug. 1 from 1911 to 1923 inclusive.
5,194 22 Mohawk Street paving bonds dated May 6 1910. Maturity onesixth yearly on May 6 from 1911 to 1916 Inclusive. According to the official advertisement, the "city will buy from the
successful bidder, for its sinking funds, at the price bid, bonds
of this issue in the amount of $394 22, leaving to the purchaser
six annual maturities of $800 each.'
Interest semi-annually
in New York exchange.
Ventnor City (P. 0. Atlantic City), N. J.-Bond Sale.The Chelsea National Bank of Atlantic City purchased on
July 20 at 100.125 and accrued interest the $25,000 5%
30-year. school bonds described in V. 91, p. 171.
.
Walker County Common School District No. 3, Tex.
Bonds Registered.-On June 28 the State Comptroller registered $1,200 5% 10-20-year (optional) bonds.
Walla Walla School District (P.0. Walla Walla), Wash.
Bond Sale.-The $50,000 5% 20-year school-building bonds
voted on June 5(V. 90, p. 1631) were sold on July 11 to the
Harris Trust & Savings Bank of Chicago at 101.36-a basis
of about 4.893%. The following bids were received:
Harris Tr. So Say. Bank,Chic.$50,680
N. W. Halsey do Co., Chicago 50,530
S. A. Kean & Co.. Chicago.._ 50,500
A. B. Leach & Co., Chicago__ 50,400
Denomination $1,000. Date Aug
Woodin, McNear & Moore,
$50,285
Chicago
50,000
State of Washington
E. H. Rollins 4c Sons, Denver 50,000
1 1910. Interest semi-annual.
Warren School District(P.0. Warren), Trumbull County,
Ohio.-Bond Sale.-The Union National Bank of Warren
was awarded on July 16 the $50,000 4% coupon school-
NEW LOANS.
NEW LOANS,
NEW LOANS.
Exempt from taxation in Connecticut
$100,000
Flathead County, Montana
$341,000
ATLANTIC CITY, N. J.,
$244,000
Town of Middletown, Conn.,
4% AIR LINE REFUNDING BONDS
Office of the Town Treasurer,
July 15, 1910.
The Town of Middletown will receive proposals
until 4 p. m. on TUESDAY, JULY 26, for the
purchase of Two Hundred Forty-Four (244)
One Thousand Dollar ($1,000) Coupon Bonds,
bearing interest at the rate of 4 per cent, payable
on the first days of February and August on
presentation of the proper coupons at the City
Trust Company, Boston, Mass.
• Said bonds are dated August 1, 1910, and are
payable on the first day of August, 1930, at the
office of the Town Treasurer, Middletown,
Connecticut.
Said bonds are numbered 1 to 244 inclusive,
and are issued under authority of an Act of the
Connecticut Legislature approved May 20, 1909,
and a vote of the town at a meeting duly warned
and held.
These bonds will be engraved under the supervision of and certified as to their genuineness
by the City Trust Company of Boston, Mass.
This Trust Company will further certify that
In the opinion of Messrs. Ropes, Gray & Gorham,
this issue is a valid obligation of the Town of
Middletown.
All legal papers incident to this issue, together
with an affidavit certifying to the proper execution of the bonds, will be filed with the Old Colony
Trust Company, where they may be referred to
at a moment's notice.
These bonds are exempt from taxation to
holders in Connecticut.
A certified check for $1,000, drawn on any
national bank or trust company, payable to the
order of the Town Treasurer, should accompany
each bid.
No bid for less than par and accrued interest
will be accepted.
All bids should be sealed and marked "Proposals
for Bonds," and addressed to James P. Stow,
Town Treasurer of Middletown, Middletown,
Connecticut.
The right to reject any and all bids is reserved.
JAMES P. STOW,
Town Treasurer.
CA% Refunding Bonds
4M% BONDS
Office of the County Clerk,
Kallispell, Mont., July 12th, 1910.
Notice is hereby given that sealed bids will be
received by the County Commissioners of Flathead County in the State of Montana, at the
office of the County Clerk, at Kallispell, Montana,
on the 17th day of August, 1910, for the sale of
$100,000 refunding bonds, the denominations of
said bonds to be $1,000 each, payable in 20 years
and redeemable in 10 years, and to bear interest
at not to exceed OM per annum, interesr
payable at the office of the County Treasurer of
said County on the 1st days of January and July
of each year. Bids will be opened at the office
of the County Clerk ex-officio Clerk of the Board
of County Commissioners of said County at
Kallispell, Montana, on Wednesday, the 17th
day of August, 1010, at 10 o'clock A. M. A
certified cheek of 5% of bid to accompany each
bid, check to be returned if bid is rejected.
The Board reserves the right to reject any or
all bids.
By order of the Board of County Commissioners.
C. T. YOUNG,County Clerk.
by FRED S. PERRY, Deputy County Clerk.
The City of Atlantic City will receive sealed
bids on
SATURDAY, AUGUST 6, 1910, at 12 m.
For $341,000
WATER,PARK.SCHOOL and PAVING BONDS
Bearing 4 M Per Cent Interest and Maturing in
Thirty-five Years.
Interest and Principal Payable at the Hanover
National Bank, New York.
Approved as to legality-the Water and Paving
Bonds by Dillon, Thomson & Clay, and the Park
and School Bonds by Hubbard & Masslicls.
Certified as to genuineness by the Columbia
Trust Company of New York.
Delivery of Bonds about August 25, 1910.
Circular letter giving particulars and form of
proposal will be mailed on application to
A. M. HESTON, Comptroller,
Atlantic City, N. J.
F. WM. KRAFT
LAWYER
Specializing
in Examination of
Municipal and Corporation Bonds
1312 FIRST NATIONAL BANK BUHL,
CHICAGO, ILL.
CORPORATION AND
MUNICIPAL BONDS
FIRST NATIONAL BANK BUILDING
CHICAGO
Bankers & Commission Merchants
3$ WA LI. STREET,
.
NEW VOu
We
offer
a ,ery
exceptional
DRAINAGE BOND
6%
CHICAGO
BLODGET & CO.
BANK ERS
80 PINE STREET, NEW YORE
STATE, CITY & RAILROAD BONDE
MUNICIPAL AND RAILROAD
McCOY & COMPANY
Municipal and
Corporation Bords
181 La Salle Street, Chicago
BONDS
LIST ON APPLICATION
R. T. Wilson & Co.
Municipal and Corporation Bonds
400 The Rookery
60 STATE STREET,BOSTON
Charles M. Smith & Co.
Reynolds, Watson & Co.
SEASONGOOD & MAYER
Mercantile Library Building
CINCINNATI
OTTO JULIUS MERKEL
BROKER
44 AND 46 WALL SIREE1
NEW YORK
INVESTMENT SECURITIES
C,orresoondenoe Invited.
234
THE CHRONICLE
improvement bonds described in V. 91, P. 171, for $50,100 10 (100.20) and accrued interest. Bids at par and accrued interest were also received from Breed tis Harrison and
Weil, Roth & Co., both of Cincinnati; Stacy & nraun of
Toledo and Otis Sc Hough of Cleveland.
Washington County (P. 0. Washington), Pa.-Bonds Not
Sold.-Local papers state that no sale has yet been made
of the $100,000 4% coupon (with privilege of registration)
road bonds which this county has been offering at par and
accrued interest'. See V. 91, p. 56, for description of these
bonds.
Washington Court House, Fayette County, Ohio.-Bond
Election.-An election will be held July 25, it is stated, on the
question of issuing $100,000 school-building bonds.
Waukegan, Lake County, Ill.-Bond Sale.-On July 5
$30,000 5% 1-20-year (serial) bonds were awarded to local
banks at par. Denomination $500. Interest annually on
July 5.
Waukesha, Waukesha County, Wis.-Bonds Authorized.An ordinance was passed on July 5 by the Common Council
providing for the issuance of $3,500 4% coupon Fox River
Bridge bonds.
Authority Chapter 40a of the Revised Statutes of 1898 and amendments.
Dencsnination $500. Date Aug. 1 1910. Interest semi-annually at the
Office of the City Treasurer. Maturity $1,000 on Aug. 11912, $1,000 Aug. 1
1913 and 31,500 on Aug. 1 1914.
West Brownsville, Washington County, Pc-Bonds
Voted.-An election held July 5 to decide on the question
of issuing $25,000 paving, curbing and sewering bonds
resulted in a vote of 73 "for" and 30 "against."
White County (P. 0. Monticello), Ind.-Bond Offering.This county is offering for sale at par and accrued interest
the four issues of 43% and 5% coupon ditch and road bonds,
aggregating $68,703, offered without success (V. 90, p. 1197)
on April 25.
Wichita School District(P.0. Wichita), Sedgwick County,
Kan.-Bonds Proposed.-According to local papers, this
district has under consideration the issuance of $50,000
additional school bonds.
Wilkes-Barre, Pa.-Bond Sale.-An issue of 5% bonds
was diaposed of on July 11 as follows: $500 to Sidney R.
Miner at 102.14; $200 to E. J. Carpenter Sr., $100 at 102.55
and $100 at 102.05; $5,000 to Franklin J. Spry at prices
ranging from 100.75 to 102.20; $500 to Albert Stukk at 102;
$500 to P. E. Stauffer at 100.85; $200 to Raymond J. Hughee
at 100.90; $500 to H. C. Miller, an agent, at 102.10.
Williston, Barnwell Cbunty, So. Caro.-Bonds Voted.This town recently voted.to issue $12,000 6% coupon schoolbuilding bonds. The securities, we are informed, will be
placed on the market on time this month.
Wilmont, Nobles County, Minn -Bonds Voted.-01 a
total of 30 votes cast at an election held July 5, only 2 were
against a proposition to issue $3,000 4% water-works bonds.
Denomination $200. Maturity 3200 yearly on July 1 from 1916 to 1939
inclusive. We are informed that these securities will be offered for sale
about Aug. 1.
Wood County (P.0. Grand Rapids), Wis.-Bonds Authorized.-This county has authorized the issuance of $50,000
432% gold coupon insane-asylum bonds. Up to June 30 it
had not been decided when these bonds would be offered for
sale.
Denomination $500. Interest will be payable at the office of the County
Treasurer or at the Milwaukee Trust Co. in Milwaukee.
Woodward, Okla.-Bonds Proposed.-Reports state that
arrangements have been made for the disposal of $60,000
high-school-building bonds.
Wright County (P. 0. Buffalo), Minn.-Bond Sale.-On
July 12 an issue of $4,040 47 6% 1-10-year (serial) ditch
bonds was awarded to the State Bank of Buffalo at par.
Yukon, Canadian County, Okla.-Bonds Voted.-Propositions to issue $30,000 water-system and $10,000 sewersystem bonds were favorably voted on July 3, according to
local papers.
Canada,its Provinces and Municipalities.
Abernethy, Sask.-Debenture Sale.-An issue of $2,54
7% 15-year improvement debentures, proposals for which
were asked until July 4, has been awarded to J. Addison
Reid dr Co., Ltd., of Regina at 100.60. Interest annually
in August.
MISCELLANEOUS.
NEW LOANS.
ATLANTIC MUTUEE IFNIgURANCE COMPANY.
$ I 8,500
BOROUGH OF COLLINGSWOOD, N. I.,
atm% Funding Bonds
New York. January 21st.-1910.
The Trustees, in conformity with the Charter of the G'onpants. submit the following statement of tts Wafts
on the 31st of December. 1909.
Premiums on Marine Risks from 1st January, 1969, to 31st December, 1909
33,759,391 2.1
Premiums on Policies net marked off let January, 1909
717.712 70
Total Marine Premiums
Premiums marked off from 1st January, 1909, to 31st December, 1909
Interest received during the year
Rent less Taxes and Expenses
3322.046 46
145,679 82
Losses paid during the year which were estimated In 1908
and previous years
$829,378 19
Losses oceurred, estimated and paid in 1909
1.149,459 56
Less Salvages
Re-Insurances
Sealed proposals will be received by Win. Hambrecht Jr., BorouglasClerk, until AUGUST 3,
34.477,103 95 4 p. m., for the purchase of Eighteen Thousa.nd
Five Hundred (318,500) Dollars 4% 20-year
33.791,557 05 funding bands of the Borough of Collingswood,
N. J. Bonds bear interest at the rate of 4;4%
gfncannum,
sita re of payable January 1st and July lat.
$467,726 28
$500 denomination. All bids multi
be accompanied by a certified check for 5% ef
bonds bid for.
WM. HAMBRECHT JR.,
31,978,837 76
Boroughu elerk.
$249,891 07
235,520 48
485,411 55
$1,493,426 20
Returns of Premiums
Expenses, inelnding officers' salaries and clerks' compensation. stationery,
newspapers, advertisements, etc
360,285 14
$336,913 04
ASSETS.
Afnited States & State of New York
Stock. City, Bank and other Seawlties
0.461,042 00
Special deposits in Banks leTrustCos. 1,000.000 00
Real Estate eor. Wall & WillamSts.,
es Exchange Plame.$4,299,426 04
Other Real Estate &
olalms dtle the company
75,000 00 4.374.426 04
Premium notes and Bills Receivable
Cash In the hands of European
Bankers to pay losses under policies payable in foreign countries_
Cash in Bank
Aggregating
LIABILITIES.
Estimated Losses and Losses Unsettled
32,393,297 00
Premiums on Unterminated Risks_
685.548 90
Certificates of Profits and Interest
Unpaid
263,468 95
Return Premiums Unpaid
120,569 42
Certillicates of Profits Ordered Redeemed, Withheld for Unpaid
Premiums
22353 49
Certificates of Profits Outstanding
1,213,069 0'8
7,404,890 00
Real Estate Reserve Fund_....370.099 00
MUNICIPAL
AND
RAILROAD BONDS
No. 2 WALL STREET, NEW YORK
t)It_ELIES
Sr. CO.
BANKERS
421 Chestnut St., PHILADELPHIA, PA.
239,948 04
633,405 13
312,921,890 89
JOHN H. WATKINS
Aggregating
$11,260,125 76
•.
Municipal and
Corporation Bonds
A dividend of interest of Six per cent on the outstanding certificates of profits will be paid to tin;
holders thereof, or their legal representatives, on and after Tuesday the first of February next.
The outstanding certificates of the issue of 1904 will be redeemed and paid to the holders thereof,
or their legal representatives, en and atter Tuesday the first of February next,trent which date au
interest thereon win cease. The certificates to be produced at the time of payment and canceled.
- A dividend of Forty per cent is declared on the net earned premiums of the Company for the yerw
ESTABE/STIED 1885
ending 31st December, 1909, which are entitled to participate in dividend, for which, upon wile/Won, certificates will be issued on and after Tuesday the third of May next.
By order of the Board.
0. STANTON FLOYD-JONES. Selretary,
TRUSTEES.
First Nat Bank Bldg., Chkago
FRANEIR M. BACON,
CLEMENT A. GRISCOM,
DALLAS B. PRATT,
WALDRON P. BROWN,
ANSON W. HARD,
GEORGE W. QUINTARD,
WESTERN
VERNON H. BROWN,
LEDYARD,
LEWIS CASS
A. A. RAVEN.
JOHN N. BEACH,
CHARLES D. LEVERICH,
JOHN J. HIKER,
MUNICIPAL, ANtE0 SCHOOL BONDS
JOHN CLAFLIN,
LEANDER N. LOVELL.
DOUGLAS ROBINSON.
GEORGE C. CLARK,
GEORGE EL, MACY,
GUSTAV H. SCHWAB.
CLEVELAND H. DODGE,
CHARLES Ir. MAR.SRALL,
WILLIAM SLOANE.
CORNELIUS BLDERT.
NIDHOLAS F. PALMER.
ISAAC GTBRN.
RICHARD H. EWARTS,
HENRY PARISH,
WILLIAM A. STREET.
PHILIP A. S. FRANKLIN,
ADOLF.•PAVENSTEDT,
GEORGE B. TURNURE.
L. GRIGGS,
CHARLES M. PRATT.
Tribune Building, 154 Nassau Street,
A. A. RAVEN, President.
Telephone 4218 Beckman,
NEW YORK. N. Y
CORNELIUS ELDERT, Vice-President.
Negotiations,Investigo.tions,Settlements
SANFORD E. COBB. 2d Vise-President.
CHARLES E. FAY, 3d Vice-President.
In or out of Now York City
JOHN 2f, JOGES STEWART, 4$1; Vice-President.
H. C. SPEER & SONS CO.
iffINBEIRT
GEO. B. EDWARDS
. Satisfactory References
JULY 23 1910.
\
THE CHRONICLE
Raymond, Alberta.-Debenture Offering.-Proposal will
be received until 8p. m. July 29 for $40,000 5% water-worksconstruction debentures.
Mattnity part yearly for 40 years. Purchaser to pay accrued tatemert.
Amherst, N. S.-Price Paid for Debentures.-We are advised that the price paid for the $41,600 43%30-year sewer,
school and winter-fair debentures, awarded last month to
J. C. Mackintosh & Co. of Halifax (V. 90, p. 1700), was
100.51. Denomination $1,000, exccipt one debenture of
$000. Date July 1 1910. Interest semi-annual.
Dresden/ Ont.-Bids Rejected.-This town it is stated,
rejected all bids for an issue of $17,000 4Mh debentures
recently offered for sale.
Fannystelle School District No. 767, Man.-Debenture
Blection.-An election will be held July 28 to vote on a bylaw to issue $6,000 school-building and furnishing debentures.
Kaslo, B. 0.-No Action Yet Taken.-We are advised
under date of July 13 that nothing has yet been done looking
towards the issuance of the $25,000 sidewalk-debenture election mentioned in V. 90, p. 1513.
Macdonald,Man.-Debenture Offering.-Proposals will be
received until 12 m. July 27 by H. Grills, Secretary-Treasurer
(P. 0. Sanford), for $6,000 telephone-extension debentures.
Maturity part yearly for 30 years.
Bank of Canada in North Bay.
235
S. Kimball is Secretary-Treasurer.
Regina, Sask.-Debenture Sale.-The 12 issues of 4K11
coupon debentures, aggregating $586,500, described in V. VD,
p. 1634, were sold on July 11 to the Canadian Agency, Ltd.,
of London, Eng., at 97.675. A list of the bidders follows:
Can.Agcy.,Ltd.,London,Eng_ _97.675
Drent, Noxon & Co., Toronto_97.67
Wood, Gundy & Ob., Toronto_97.53
J.Add'nReld&Co.,Ltri.,Regina97.35
Oldfield, Kirby & Gardiner,
Winnipeg
97 1-32
96.252
Osborne & Francis, Ltd
C. H. Burgess & Co., Toronto_96.061
9640
Bank of Nova Scotia
Domin. Sec. Corp., Ltd., Tor_95.V9
Ontario Secur. Co., Ttironto 94.655
Aemillus Jarvis & Co., Tor_-_91.535
Saskatoon, Sask.-Debenture Offering.-Proposals will be
received until 5 p. m. Aug. 1 by J. H. Trusdale, City Cierbt
for the following debentures:
$9,000 5%
21,000 5%
Delivery to be made at the Traders'
Minto Township, Ont.-Debenture Offering.-Proposals
will be received until 2 p. m. July 27 by W. D. McLellan,
Clerk (P. 0. Harriston), for $4,875 65 5% gold drainage
debentures.
Date Aug. 1 1910. Interest and principal payable in 20 annual installments on Dec. 31 each year at the Traders Bank in Harriston. Debenture
debt, not including this issue, $7,897 93. No floating debt. Assessed
valuation 1910, $2,441,876.
30-year collegiate-Institute debentures.
30-year debentures for fair grounds and hospital over-expenditures.
10-year concrete-sidewalk debentures.
73,000 5%
129,000 45.i% 39-year sewerage-system debentures.
90,000 4;i% 30-year water-works-extension debentures.
75,000 4;i% 30-year debentures. for opening streets and parks.
62,000 4%% 30-year sewer and water-connection debentures.
24,000 4;i% 30-year electric-light debentures.
19,000 4;i% 30-year traffic-improvement debentures.
17,000 4 M% 30-year stand-pipe or water-tower debentures.
10-year cement-sidewalk (city's portion) debentures.
15,000 5%
15,000 4;i% 30-year fair-grounds-extension debentures.
6,000 4 A% 30-year motor-fire-apparatus debentures.
6,000 454% 30-year boiler debentures.
The ten last-mentioned issues were spoken of in V. 91, p. 58.
South Vancouver, B. 0.-Debenture Sale.-The $170,000
school, the $200,000 road and the $30,000 sidewalk 5%
be
will
North Bay, Ont.-Debenture Offering.-Proposals
50-year debentures offered on July 13 (V. 90, p. 1701), were
received until 12 m. July 25 by M. W. Flannery, Treasurer, awarded to Oldfield, Kirby & Gardiner of Winnipeg at
improvement
local
for $65,835 26 5% coupon or registered
104.15-a basis of about 4.782%.
debentures.
Wainwright School District No.1658, Alberta.-Debenture
Date Aug. 1 1910. Interest annually at the Traders' Bank of Canada in
North Bay. Maturity part yearly for 30 years. Delivery to be made at Offering.-Proposals will be received until Aug. 15 by H. V.
the Traders' Bank of Canada in North Bay. Debenture debt, including Fieldhouse, Secretary-Treasurer, for $18,000 5% school
this issue, $182,531 01. Floating debt, $98,056 83. Asseuted valuation
debentures.
for 1910, $2,493,108.
Interest annually at the Merchants' Bank of Canada In Wainwright.
Outremont, Que.-Debenture Sale.-We have just been Maturity
part yearly for 20 years.
advised that $75,000 5% local-improvement debentures were
Weston, Ont.-Bids Rejected.-Reports state that all bids
awarded on June 1 to Hanson Bros. of Montreal at 109.59.
received on July 9 for $17,000 43,i 0 debentures offered on
Denomination $1,000. Date May 1 1910. Interest semi-annual. Ma- that
day were rejected.
turity May 1 1902.
TRUST COMPANIES.
TRUST COMPANIES.
Manhattan
Trust
Company
The
Trust Company of America
37-43 WALL STREET, NEW YORK.
LONDON OFFICE'
COLONIAL BRANCH'
95 Gresham St.
222 Broadway, New York.
CAPITAL AND SURPLUS $8,000,000
1 1 3 BROADWAY
Invites accounts of individuals firms and corporations.
Pays interest on daily balances,
Executes trusts of every description.
WALL STREET
CORNER NASSAU
L F. DOMMERICH & CO.
Temporary Offices
NEW YORK
ACCOUNTANTS.
LYBRAND,
ROSS BROS &
MONTGOMERY
Ceneral Offices, 57 Creene Street
SOLICIT MERCANTILE ACCOUNTS TO FINANCE
FOR MANUFACTURERS,
DISCOUNT AND GUARANTEE SALES
AGENTS AND OTHERS
CARRY NO GOODS FOR OWN ACCOUNT
Certified Public Accountants
(Pennsylvania)
165 Broadway.
NEW YORK,
PHILADELPHIA, Land Title Bldg.
Union Bank Bldg.
PITTSBURGH,
CHICAGO, First National Bank Bldg.
JAMES PARK & CO.
CERTIFIED PUBLIC ACCOUNTANTS
New York,Chicago,Cincinnati, and
London, England.
AUDITORS FOR FINANCIAL INSTITU
TIONS, INDUSTRIAL AND
MINING COMPANIES
Investigations, Financial Statements,
Periodical Andits and Accounting
The Commerce Court at Washington
All common carriers engaged in inter-State or foreign
commerce are required by law to keep hereafter an agent at
Washington for service of process.
For full information regarding this law, address
Whe
NEW YORK
orporation
CHICAGO
ST. LOUIS
Trust To,
BOSTON
PHILADELPHIA
236
THE CHRONICLE
[Vori. Lxxxxi.
vtist Tamproxits.
gnginters.
EN states Trust Doug Of Jew'la
Chartered 1953
4.45 and 47 WALL STREET
CAPITAL,
SURPLUS AND UNDIVIDED PROFITS
-
-
-
$2,000,000.00
$13,733,303.21
This Company acts as Executor, Administrator, Guardian, Trustee, Court Depositary and in
•other recognised trust capacities.
It allows interest at current rates ondeposits.
It holds, manage.s and invests money, securities and other property, real or pet-sena', for estates
Corporations and individuals.
EXAMINATIONS and REPORTS
EDWARD W SHELDON, President
WILLIAM M. KINGSLEY, V.-Pres.
HENRY E. AHERN, Secretary.
WILFRED J. WORCESTE.R,Asst. See CH wr.r-s A.EDWARDS,2d Asst.Seo.
TRUSTEES.
JOHN A. grEwART, Ckairman
tlw noara.
Gustav II. Setr.vab,
Lewis Cass Ledystd,
George L. Rivets,
Lyman J. Gage.
Frank Lyman.
Arthur C. James,
James Stillman,
Payne Whitney,
William M. Kingsley.
John Claflin,
Edward W. Sheldon,
William Stewart Tod,
John J. Phelps,
Chauncey Keep
Ogden Mills.
Egerton L. Winthrop
W Bayarsi Cutting,
William Rocke(eller,
Alexander E. Orr.
William It. Macy Jr.,
William D. Sloane,
FIDELITY TRUST COMPANY
H. M. BYLLESBY & CO.
ENGINEERS
218 La
Salle Street, CHICAGO
Portland, Ore.
Oklahoma City, Oklahoma,
Mobile, Ala.
J. G. WHITE & CO.
Engineers, Contractors
43-49 Exchange Place, NEW YORK
Chicago, Ills.
San Francisco, Cal.
NEWARK, N. J.
Investigations and Reports on Electric
Railway (ins. Electric Eight and Power
Properties, irrigation Systains. tic., for
Financial Institutions and Investors.
Resources Over $29,000,000
Capital, Surplus and Undivided Profits, Over $9,500,000
Electric Railways, Electric Light and Power
Plants, Irrigation Systems Financed,
Designed and Built.
Acts as Executor,Trustee, Administrator and in all fiduciary capacities.
Takes entire charge of Real and Personal Estates. Guarantees Titles of
Real &Oats throughout New Jersey.
Gemara Ranking and Savings Departments. Bond Department for
purchase and sale of municipal and public utility securities. Safe Deposit
Department.
London Correspondents:
J. G. WHITE & CO., Limited
9 Cloak Lane, Cannon St., E. C.
C. G. YOUNG
Engineering and Construction
Plans, Methods, Operation
Public Utilities and Industrials
Reports for Financing
SIXTY
WALL ST.,
NEW YORK
CENTRAL TRUST COMPANY
Mem Am. Soc. C. E.
of NEW YORK
54 Wall Street
H. U. WALLACE
ENGINEER
Capital and Surplus, $18,000,000
(of which $17,000,000 has been earned)
Authorized to act as Executor, Trustee, Administrator or Guardian.
Receives Deposits, subject to check, and allows Interest on Daily Balances.
Acts as Transfer Agent, Registrar and Trustee under Mortgages.
CHARTERED 1864
txamlnattons.
Reports. Surveys, Supervision of
mastruction and operation of Electric and Steam
Railroads, Power l'iants, Transmission lines,
Central Stations and Irrigation projects, Eta.
Ea-Supt. Illinois Central RR.: Chief Engineer
Illinois Central RR.: and Geri'l Manager Chicago
Lake. Shore & South Bend Electric Railway.
hiarguette Bldg.
CHICAGO. ILL.
Edmond C. Van blest
Robert 'Men Doblo
Thomss L NVilkluson
Associated Engineers Co.
Examinations, Reports Construction, Operation
Irrigation Enterprises a Specialty
tyr Century Building
tt.N V E tt CO 1.0.
Union Trust Companyof NewYork
A. L. REGISTER & CO.
MAIN OFFICE: 80 BROADWAY.
ENGINEERS & GENERAL CONTRACTORS
Uptown Office: 425 Fifth Avenue, corner 38th Street,
With Modern Sate Deposit Vaults
Capital $1,000,000
Surplus (earned) $7,737,000
ALLOWS INTEREST ON DEPOSITS.
Arts as Executor, Guardian, Trustee, Administrator and in all Fiduciary Capacities
on behalf of Individuals, institutions or Corporations.
Established 1589.
Successors to Peovar & Resisto*
112 North Broad Street Philadelphia.
gatutng gltgliteers.
H. M. CHANCE
Consulting Mining Engineer and licologist
GOAL AND MINERAL PROPERTIES
Examined, Developed, Managed
587 Drexel Bldg.
PHILADELPHIA, PA
financial.
filinoigfrutst&SavingsBanic
CHICAGO
Capital and Surplus
$13,600,000
Pays Interest on Time Deposits, Current
and Reserve Accounts.
Deals in Investment Securities and Foreign Exchange.
Transacts
a
General Trust Business.
CORRESPONDENCE INVITED.
gixt Mcrutrnttx.ent 4)ccraintant
P. 0. BOX 27. MAIN OFFICE.
WASHINUTON. D. C.
OFFICIAL ORGAN OF THE ASSOCIATION OF
AMERICAN GOVERNMENT ACCOUNTANTS.
MONTHLY MAGAZINE OF INTEREST TO
ACCOUNTING AND FINANCIAL OFFICERS
OF MUNICIPALITIES, BANKS, RAILWAYS
AND OTHER PUBLIC SERVICE CORPORATIONS.
P9 BE FOUND IN ALL LEADING CLIRTIFTED
PUBLIC ACCOUNTANTS' OFFICES.
8anaple Copy 15 eents. Per Annum $1 50
@FedFRASER