The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
'(
^Jommetria
INCLUDING
Electric
Railway & Industrial Section
Quotation Section
Bank &
Bankers' Convention Section
Railway Earnings Section
NO. 2509
Week ending July
lit* €hxmxcU:
'
Inc. or
Subscription—Payable in Advance
$10
6
European Subscription (including postage)
13
European Subscription six months (including postage).
7
Annual Subscription in London (including postage)
£2
Six Months Subscription in London (including postage)
£1
Canadian Subscription (including postage)
$11
Detroit.
Months
(8
(13
(26
Twelve Months (52
1
Six Months
Columbus
60
Toledo
Grand Rapids.
Evansvtlle
Dayton..
Lexington. 1
Quincy
Bloomington
_
Canton
Decatur
...
South Bend
Springfield, Ohio
Saturday
every
morning by WILLIAM B. DANA COMPANY,
Tress.; George S. Dana and Arnold G. Dana,
Lima
Danville
facob Seibert Jr., President and
Arnold G. Dana, Sec.
.
....
Addresses of all, Office of the Company.
...
Owensboro..
X^ansing..
Jacksonville,
CLEARING-HOUSE RETUNRS.
Adrian
table, made up by telegraph, &c.f indicates that the
all clearing houses of the United States for the week
ending July 26 have been $2,970,309,562, against $3,046,802,031 last
week and $2,780,745,219 the corresponding week last year.
; v *.
+5.7
+2.1
+ 18.5
+ 20.6
—10.5
+ 3.5
+ 26.5
717,276
978,230
1,612,167
2,043,252
2,503,000
+0.9
+2.2
+ 12.4
+ 7.3
287,662,061
22,606,650
20,550,652
19,458,602
12,719,683
9,659,742
6,682,900
5,223,383
3,039,013
3,007,253
2,976,052
2,467,101
686,531
1,116,375
985,617
1,388,339
1,567,000
+23.6
—15.8
815,281
769,406
+ 17.3
701.851
865,460
+24.7
601,157
649,812
—4.7
578,900
533,025
'
+2.2
+26.1
+ 24.2
1,033,581
462,969
590,737
660,276
608,672
434,259
391,929
437,289
+30.0
+ 15.2
+ 1.5
+47.2
+31.6
+35.2
549,835
688,257
—7.1
438,134
447,494
431,440
542,664
256,960
—11.2
342,254
+ 39.8
181,953
+4.8
47,926
—3.0
385,506
180,490
34,891
1,313,746
454,695
523,651
430,174
570.560
Tot.Mld.West
457,610,981
431,178,685
+6.1
410,522,457
San Francisco...
following
The
III
Ann Arbor
+ 30.7
2,685,243
2,392.475
670,000
895.000
571,124
529,073
406,367
480.001
357,389
190.641
46,502
Jackson
+4.3
—9.2
+ 16.3
3,155,775
601,619
681,361
Mansfield.
New York.
Sts.,
2,108,000
1,016,292
733.640
705,864
636,793
1,656,007
564,108
Rockford
COMPANY, Publishers,
Front, Pine and Depeyster
P. O. Box 958.
2,525,148
Akron......
29 00
50 00
87 00
Monadnock Blc k; Tel.Harrison 4012.
Office—Edwards & Smith, 1 Drapers' Gardens, E. C.
B. DANA
Wayne...
Youngstown
$4 20
22 00
times)..
times)
times)
times)...
1,109,142
1,730,661
111..
Springfield,
Fort
291,087,513
29,159,450
24,550,638
22,544,992
14,465,373
9,325,691
6,950,700
5,758,169
2,999,910
733,367
Kalamazoo
Office—Geo. M. Shepherd, 513
WILLIAM
15,297,020
9,517,522
7,052,700
6,942,352
2,685,049
3,264,591
2,708,066
3,027,280
Indianapolis
Bankers' Convention (yearly)
Three Months
_
Milwaukee
Advertising—Per Inch Space
Two
Standing Business Cards
26,469,750
28,554,975
29,466,953
Peoria
inch space (14 agate LneB)........
Transient matter per
00
50
14 8.
lis.
(3 times yearly)
(3 times yearly)
Electric Railway
Railway earnings
303,649,624
...
Cincinnati.
Cleveland
railway and Industrial
(monthly)
(monthly)
City (semi-annually)
Bank and Quotation
Terms of
Chicago
00
00
Supplements—
Subscription includes following
Published
1911.
Dec.
%
Terms of
Vice-Presidents:
1912.
1913.
PUBLISHED WEEKLY,
For Six Months..
London
19.
Clearings at—
For One Year...
Chicago
City Section
SATURDAY, JULY 26 1913
VOL. 97
State and
Railway Section
State and
51.431,692
23,122,199
13,014,127
11,837,889
52,014,609
22,955,730
10,595,468
11,589,566
6,575,981
4,126,581
2,288,275
3,361,015
2,432,956
1,722,723
—1.1
45,904,821
+0.7
+22.8
+ 2.1
18.669,961
total bank clearings of
Los
Angeles.
Seattle
Per
Clearings—Returns by Telegraph.
Week ending July 26.
Portland
117,054,838
Boston
Philadelphia
$1,291,580,996
126,891,212
112,387,512
26,617,283
222,454,550
55,267,890
13,433,455
......
28,465,015
250,202,743
60,935,835
12,489,138
Baltimore
Chicago
St. Louis
New
Orleans
\
+ 6.4
—11.7
+ 4.2
San Diego......
+ 6.9
Sacramento.
2,302,445
Oakland
+ 12.5
Pasadena.
+ 10.3
—7.0
Fresno
$2,495,020,625
475,288,937
$2,320,094,826
460,650,393
+ 7.5
$2,970,309,562
5 days
Total all cities for week.".,;.
The full details
+ 5.9
$1,848,632,898
471,461,928
$2,780,745,219
+ 6.8
...
All cities, 1 day
for the week
covered by the above
+ 13.9
+ 3.2
will be given next
by the
the last day
night.
for the week ending with Saturday
Saturday.
We cannot furnish them to-day, clearings being made up
clearing houses at noon on Saturday, and hence in the above
of the week has to be in all cases estimated, as we go to press Friday
We
4,158,384
2,658,319
Tacoma...
3,684,478
2,894,356
537,218,462
$1,957,802,163
5 days
Total all cities,
noon,
6,308,375
......
present below detailed figures
July 19, for four years:
;
Week ending Jul'
Total Pacific..
City
Kansas
Minneapolis
Omaha
St. Paul
Denver
St. Joseph
Des Moines
Sioux City.
Wichita
Topeka
19.
Inc. Or
1912.
1913.
1910.
1911.
Dec.
Philadelphia
Pittsburgh
Baltimore
Buffalo
Albany
_.
Washington
Rochester
...
Scranton
1,609,877,675 1,694,983,298
161,649,055
161,260,732
54,878,403
66,671,282
34,962,243
37,022,254
11,443,854
12,891,917
6,824,099
6,996,740
7,049,685
7,904,866
4,492,932
4,910,501
2,301,437
3,101,007
Wilmington
Wllkes-Barre....
,
Trenton
York
Erie—
Lancaster...
Binghamton
Greensburg
Chester.-
...
Altoona
Montclair
Total
161,253,815
49.431,144
401575,292
9,543,434
6,076,638
6,837,969
4,503,659
2,551,701
2,429,218
+ 5.9
+ 12.6
+ 2.5
+ 12.1
+ 9.3
+ 34.8
*
•
137,641,554
52,881,827
28,002,575
10,011,380
5,686,236
6,046,661
4,466,002
940,211
905,047
902,136
527,500
533,373
497,139
525,160
2,400,000
2,343,039
2,853,596
959,143
+ 20.0
+ 14.1
941,669
1,181,894
—5.4
1,025,375
586,421
622,828
465,618
+ 3.1
556,006
591,317
655,108
...
New Haven
Springfield
Portland
Worcester
Fall River
Bedford
Lowell
Holyoke....
.....
179,828,115
8,067,000
5,254,109
3,747,587
2,879,416
2,114,279
2,937,924
1,094,921
1,117,752
604,191
605,000
498,346
.
—1.3
+ 7.6
+ 7.9
—9.8
+ 29.4
—2.8
+ 7.0
For Canadian
161,618,815
7,736,600
4,342,744
3,450,992
2,092,268
1,743,529
2,414,061
208,748,640
209,186,289
—02
181,068,484
Clearings see "Commercial and Miscellaneous
,
350,000
270,000
+ 23.0
684,355
610,000
485,470
343,415
260,000
125.,607,610
121,621,294
+ 3.3
106,267,119
54,717,568
22,062,419
17,100,779
9,368,329
8,413,910
6,985,525
4,759,227
3,328,058
3,895,211
4,955,454
2,284,953
1,841,450
1,487,125
760,412
1,325,000
625,485
48,389,351
19,079,929
15.703,649
10,039,537
8,472,347
6,699,078
4,231.061
2,605,444
3,560,004
3,101,170
1,673,671
1,560,105
1,390,000
+ 13.1
47,590,238
16,738,195
14,021,409
11,357,424
8,705,446
6,094,963
3,755,075
2,103,674
3,550,176
—3.5
+ 11.0
—8.0
+ 15.6
+8.9
—6.7
—0.7
+4.3
+ 12.5
+ 27.8
+9.4
+59.8
+36.5
+ 18.0
+ 7.0
+ 12.8
+22.1
674,149
1,085,243
2,895,972
1,556,562
1,423,758
1,546,280
675,012
1,496,217
—15.7
477,043
+ 28.8
658,670
690,826
1,589,341
1,027,130
365,869
1,706,299
1,211,212
304,748
—6.9
1,086.201
—15.2
303,249
+20.1
+41.1
+4.5
+25.3
949,523
299,997
387,187
157,419
...
366,775
175,000
379,851
252,767
167,421
Tot. oth. West.
148,291,914
133,324,101
+ 11.2
Waterloo
Helena.
Aberdeen
Fremont
.
Hastings
Billings
1,513,298
1,381,617
1,558,962
1,3/5,409
1,640,543
891,413
800,799
773,313
479,100
441,537
480,713
593,307
St.
Louis
New Orleans
Louisville...
Houston
Galveston
......
Richmond.:
Fort Worth
Memphis
Atlanta
Nashville
Savannah
Norfolk
Birmingham
Knoxvllle
153,570,257
7,727,800
4,059,282
2,803,089
2,294,127
2,056,397
2,197,355
871,356
904,223
556,948
423,236
Chattanooga.
Mobile
Augusta
Charleston
Oklahoma
Little Rock
Macon
Austin
Vlcksburg
Jackson
Meridian
Tulsa
Muskogee
Total Southern
Total all
Tot.NewEng..
,v,
742,685
370,982
Jacksonville
181,245,403
8,170,000
4,884 586
3,473,761
Providence..
2,444,929
2,302,862
2,036,756,615 1,780,759,498
—0.8
+33.7
+ 2.2
112.242
127,852,466
'
1,746,634
1,418,978
1,672,948
1,428,916
1,432,744
—3.8
Boston
Bangor
1,741,022,959 1,519,172,461
0.2
+ 3.3
Middle. 1,919,709,200 1,995,918,460
Hartford
New
—5.0
.
Reading
Rapids
Fargo
3.117,925
2,780,876 + 12.1
+ 21.0
1,852,775
2,241,082
+ 13.2
1,691,575
1,914,070
+0.8
1,897,589
1,913,561
—2.1
1,531,595
1,499,333
+ 25.0
1,557,223
1,946,687
994,805 —12.1
874,600
1,029,208 + 29.1
1,328,769
+ 1.1
1,331,024
1,345,468
+ 25.3
613,100
768,600
+ 10.9
627,235
695,692
—4.8
787,091
749,312
+ 6.6
639,358
681,527
496,379 Not Included in total
Syracuse...*...
Wheeling.
Cedar
Pueblo
%
New York
^
Davenport
Colorado Springs
Clearings at—
+9.6
+ 19.0
332,039
Yakima..
Reno
Lincoln
.
843,808
894,194
1,053,315
750,000
321,892
+ 0.8
+ 16.2
9,167,174
9,968,739
7.095.197
3,906,614
2,111,111
3,339,491
1,500,000
1.460.198
760,573
+ 17.7
•
Duluth
,
,
North
825,358
926,774
949,424
—4.1
636,934
Stockton
San Jose
Seven cities, 5 days
Other cities,
i
Salt Lake City..
Spokane
1912.
$1,374,648,887
112,005,707
York.............
New
Cent.
1913.
News.
177,464.070
+5.6
74,181,460
78,371,258
+2.2
17,633,698
17,633,698
+ 12.6
12,425,221
13,991,494
7,691,819 Not Included In total
—1.0
7,000,000
6,927,500
—6.9
8,229,511
7,660,450
+29.4
5,780,237
7,482,914
7,928,650 —19.7
6,363,772
+ 5.0
10,379,684
10,902,903
+46.4
4,538,631
6,642,929
—0.5
3,748,814
3,729,196
3,383,600 + 19.4
4,038,301
+ 12.1
2,488,364
2,788,704
1,940,768 —11.4
1,718,189
—8.2
3,400,000
3,122,310
+ 5.4
2,135,459
2,251,830
—3.4
1,350,000
1,304,164
1,619,241 —12.7
1,414,519
+ 1.8
1,507,227
1,534,042
+ 8.3
1,530,482
1,657,615
+ 13.5
1,731,526
1,964,884
2,827,214 —12.5
2,473,041
+76.9
944,725
1,670,627
+ 0.0
203,685
203,722
1,075,398
648,269
376,326
330,873
859,600
604,175
186,833,786
179,079,171
301,111
328,775
.
3,046.802,031 3,070,307,900
Outside N. Y. 1,436,924,356
1,375,324,602t
72,281,558
17,474,834
13,529,937
6,000,000
7,369,499
4,880,300
5,264,834
9,194,489
4,435,106
3,781,648
2,940,244
2,180,065
1,665,109
2,574,334
1,792,605
1,298,718
1,388,408
1,335,654
1,804,748
1,869,126
2,500,471
+25.1
+7.3
900,000
175,947
282,418
180,000
629,155
480,697
+4.3
168,209,954
—20.0
—0.6
—0.8 3,036,677,045 2,732,165,365
+4.5 1,295,654,126 1,212,992,904
198
THE
CHRONICLE
[Vol.
!
ti
I-
I
a
r
,
S
heart,
THE FINANCIAL SITU A TION.
An
inquiry
to
comes
us
following effect: "How
the
reconcile call
reserves
000,000 in
of legal requirements and at the
same
time
capitalist is
not
millenium is to arrive.
money
going at 2@23^%,
excess
and he will need
other
ilo
qualifications to guide him right.
from Chattanooga to the
can you
xcvii.
'
in New York banks $30,-
so*
sure
"
attainments
or
But the investor,
that
the
promised
He knows that his
posses¬
sions were not
easily won, and he is decidedly un¬
willing to surrender them into the care of those who
undeniably tight money market * (as may be sincere in their professions of regard for the
by the stiff rates maintained for time' money [public welfare", but whose fitness for their self-chosen
for the longer maturities) with
practically no funds task of administering and regulating the material in¬
an
shown
for investment."
Our
situation' that
a
answer
has
not lie
may
readily apparent to
watching the
that the
and that
of events.
is low
high
The circumstance
on
loans subject to im¬
loans for long maturities,
on
apparently ample for
money reserves are
the time
being, shows that money' supplies do not
necessarily control investment conditions or regulate
the flow of
money
capital, and that adding to the stock of
in circulation through
bank note issues
new
by swelling Government deposits in the banks is
or
not
going to remedy the unfortunate, state of things
existing in the investment world.
The simple truth is, the
country to-day is suffering
as
perhaps
panic, from
ket
before except in times of actual
never
a
loss of confidence.
The money mar¬
-
is
abundantly supplied with funds, but there is
timidity and fear, so that no one is willing to let his
funds
far out of reach.
go
Accordingly, demand
loans rule very easy, while time
loans, because of the
fa&t that the lender is obliged to
part with his money
a definite
period, can only be obtained at stiff
for
figures—and the longer the maturity the higher the
rate.
The
call
loan
conditions, the time
manner
there
and yet new
is
are
market.
that
no
dearth
onerous
obliged to
The
new
of
are
hard to place,
terms that corporate
as
is
bor¬
are
not
so
heavy
utmost
ease
normal'conditions, for the country is
steadily adding to its savings and its wealth, but the
unwilling to put it out for fear of jeop¬
It is correct'to say that the demand for
possessors are
capital is greater than the supply,
for the
Ijmt this is only
reasons
so
mentioned, is
being curtailed—the capital exists, but is being with¬
held because confidence is
lacking and a fear exists
that the risk of
employing it while security values
keep persistently shrinking is so great that it is better
to let the money
The new'
lie idle.
'
legislation already enacted and the still
vailing distrust.
more
radical
are
of the Roosevelt policies.
seeing the full fruition
Government is offered
as
for everything, and is being
injected into
everything.
Men can no longer be trusted.
The
panacea
Government
must
be
in
supreme
politician is to replace the business
have the interests of the
public,
over¬
by which the country's wonderful
industrial advance in the
past has been attained, is
gaining
force.
Apprehensions
stability in the
sense
do not appear to
tain
it is that
attack.
that
formerly known
security
and
longer exist
no
be entirely without warrant.
grade of investment,
no
taking however
Interest
honestly founded,* is
rates
no
Cer¬
under¬
secure
from
naturally rise through the
fears and doubts thus aroused and
through the dis¬
the possessors of investment capital
part with it. Every one is familiar with what has
inclination ; of
to
been
going
on
in the railway world.
Through hostile
Government policies the stability of the
of investments reared
mass
the
on
enormous
is
becoming
seriously endangered, with the effect of depreciating
these
same
investments and making it
exceedingly diffi¬
needed new capital
cult to obtain
further
supplies for the
development of the system.
The stock and bond issues
resting
on
system of the United States aggregate
billion
the railroad
over
nineteen
dollars, and the higher income basis forced
the
gilt-edged issues—could
affect
other
classes and
control.
man.
The
He will
the electorate, at
not
fail profoundly to
forms of
We
see
investment, out¬
now
how
this
in¬
fluence has extended to the municipal bond market.
At first the
effects were not very
perceptible, but
latterly the movement towards higher interest rates
on
municipal obligations has been proceeding at
accelerating
actual
Still
pace.
an
recently, under the
more
withholding of investment capital for the
rea¬
given, the rising tendency of interest rates has
son
become yet more pronounced.
being offered it is
When less capital is
necessary to
which is actually to be had.
bid higher for that
Accordingly,
we now
have the
spectacle of States and municipalities being
obliged to resort to the same device as that which the
only
way out
of their di¬
lemma, namely the issue of short-term obligations
on an extremely high interest basis.
As if this
we
go.
revolutionary proposals intendeid to
through the
political world is to eradicate, to change, to
uproot.
Whatever is, is considered
wrong.
Under a Demo¬
a
tion from
turn the methods
The disposition everywhere in the
cratic administration
it, rather than let it
On every side this latent fear of harm and
destruc¬
at the bottom of the
pre¬
are
to
on
country is yet to be proved.
those possessing investment
railroads have found the
experiments in government, the radical
legislation proposed,
capital to hold
to
when appealing to the, side' the railroad field.
pay
capital demands
the supply,
suggests
plethoric ion this tremendous body of investments—not alone
tn like the junior obligations but the senior
obligations as
investment capital, well,- not
merely the less desirable issues but also
they could not be met with the
because
entire
shows
in periods of
ardizing it.
Prudence
market is tense,
money
capital issues
evident from the
rowers
market
of the
terests
who has been carefully
capital is hard to obtain, though Clear-
new
ing-House
The
many.
the surface, and yet will be
on
money
mediate recall but
perplexing
any one
course
price of
correspondent here describes
been
are
not
enough, industrial securities,
mistake in Governmental policies,
being made to suffer even worse, and are thereby
were
same
being entirely discredited.
removal
any
or
Tariff revision, with the
reduction of protective
duties, would in
event make the future of
some
of these industrial
properties insecure, at least for the time being.
In
addition, however, there comes the threat of Govern¬
ment
only
regulation
vaguely
regime,
on a
scale which had previously been
suspected.
During
the
Roosevelt
when the idea of Government regulation
July 26
undertakings
of industrial
first broached, the
was
199
CHRONICLE
THE
1913.]
;The 2 per
value of Government bonds.
market
the
in
:cline
cent consols have dropped way below par,
proposition-was deemed too fantastic to merit serious
consideration;
Under the present Administration shaving the present week touched 96%,, and yesterthe
The
proposal is to* be carried into actual practice. iday the bid price was only 95%. Heretofore, U. Sv
) Government bonds have been selling above their in-Secretary of Commerce has told us that any
dismissal
reduction of wages, or
decrease of labor¬
or
ing force, is to be made the occasion for
the applicat¬
trinsie merits because they were
•-
available
security
as
lose
circulation, which advantage they would
Tor
later under the provisions
sooner or
of the
new
bilL
of an efficiency test—and the test is to be
To check the decline, various changes and amendapplied under conditions that make the condemna¬
tion of the unfortunate manufacturing concern cer¬ iments in the proposed measure have been agreed
ion
The politician is to be in the saddle
tain in advance.
and the manufacturer is to be held in
The unfortunate
tion.
of these
industrial
an
announced two weeks ago, but this
es¬
has not prevented
further declining the present week,
'the bonds from
good and to offer testimony to and it is now apparently too late for
of the new policies.
These manu¬ rizing scheme.
■
supposed
common
the entire
success
are
"Theirs
not; to
of
state
die."
In such
things profits will be cut to the bone
and
do
to
feature of any
a
or
'
of investments is put
under
a
With railroad investments,
and
as
cloud.
bank
fear,
jpd trust
investments still
company
The
taken possession here the same
and the railroad world.
in the industrial
There
It is not so much the
behind it that is creating
public: utterances of those responsible
only sellers and no buyers.
; are
I>ill itself as the animus
industrial investments
municipal securities all affected by a common
;
avail for arresting the decline.
trouble is that fear has
And thus another large body
disappear altogether.
tempo¬
'
make dabbling with the circulation:
too far to
gone
any mere
stability of these 2% consols has
Distrust in the
>
Theirs not to make
why,
reason
but
Theirs8
reply,
but to submit.
to have no alternative
facturers
•
of
owner
expected to sacrifice himself for the
tablishment is
intended to add to the availability and value
consols.
The proposed amendments were
upon,
abject subjec¬
The
alarm.
;
I for the
measure
than
have been far more damaging
The bill may be amended,
but the animus and purpose will remain unchanged.
age in security values tended to cut down the market
In the last analysis the banking reform proposals
value of the surplus of these institutions.
But
seemed outside the
zone
anything in the bill itself.
of danger, though the shrink¬
;
The Government, has
here.
guns 'and
leveled its
also
currency
A banking and
brought under the ban.
bill has been prepared by which the bank¬
ing business is likewise to be taken out of the hands of
successfully managing it and
those who have been
be transferred to the control of
But here at last it would seem as
that. to
; powers
a
clothe
needful
or
•
lesson.
turing plant,
how
A
.
leave when
as a
the
case
may
be pounded.
different.
is*
do not have to stay
Such
will not avail to
the Federal system,
if it
no
a
no
of the' 2%
At
little prospect of any special
necessarily release large amounts
the
manufac¬
for
available
But with a
organizations
time there is
same
longer sees inducements
objectionable
features, and yet could be changed so as to make it
workable and commendable.
But one thing, at
the market.
2% bonds, even if they remain
demand for these
•
the inducement to
for
circulation,
organize under the national System will be gone.
Just what the outcome of this distressing situation
►
will be it would be idle to attempt to guess .
doubt and
;
In the
have another element of
uncertainty, and the lack of confidence so
national bank in meantime, however,
submitted contains many
as
national banks will leave the national system
provisions of the new bill.
This
its ! consols which will then come upon
we
strikingly in evidence as regards railway securities*
industrial securities and municipal securities now
remaining in the system.
The bill
circulation and what iswith the Governthe banking business itself
matter what the
will
i
'
for
large enough to have a
security for national bank
many
and arbitrary exactions.
keep
happens when selfbe found
ment determined to run
:
under Federal control and submit
without protest to onerous
Threats
change
cannot
nor can a
the so-called banking
it
becoming palpably evident is that
with governmental
rule, be bodily removed, no matter
mercilessly it
bank
railroad
attacked;
on
As
•
Street but in every
national
$600,000,000 of 2% consols are held
Over
:bank.
; as
assault
stake, the money power is to
hamlet in the land
;
if those who think
is to make him akin to the gods, will be taught
location
-
functionary
a
an
power.
only in the precincts of Wall
*not
officious and meddle¬
That is the intention.
paternal Government.
some
an
as
money
interest is at
against the Money Power and, lo! these institutions
are
intended
are
exemption from attack was not to be permanent
even
:
extends also to the
;
ment
Is it not,
.
obligations of the U. S. Govern¬
therefore, entirely plain why money
plentiful
yet hard to obtain ?
The situation in these
very plain.
Government will not be allowed to arro¬
gate to itself all the functions and all the profits of respects is such as should make those high in author¬
the banking business.
If the law as enacted is to ity pause. A return to prosperity is not to be won
least, the attitude of the banks has served to make
is abundant and yet
f
be marked
by
banks
tional
Federal
any
in
such
purposes or
desires, the na¬ iby stubborn adherence to the present course;
large numbers- will surrender their
charters and the Federal Government
have
nothing left out of which to make
itself
or
to furnish
a
basis for emergency
yet,
While the
will
profit for
circulation
a
however, the leaders in the movement
for banking reform have
learned nothing.
They ap¬
of way.
pear
to be floundering about in a helpless sort
One
peculiarly distressing feature has been a sharp.de-
news
is
i
that Turkey
;
.
:
more
or
from the seat of war
territory proper.
reported to be advancing towards
pushing forward into Bulgarian
Turkish troops are
Philippopolis, and it is reported that King
of
Ferdinand
Bulgaria has asked the intervention of the Powers.
A late telegram
received in London from the Bui•
•
doubt but
Powers and
is ignoring the protests of the
*
'
11
in the Balkans
less beclouded, there seems no
:
•.is
issues.
As
stringent, and capital
and
!
,
A
*
-
'
"
-
^
'
'
.
I
200
CHRONICLE
THE
definite
garian Minister in Paris reports that the Turkish
had finally entered
troops
In
Philippopolis.
whom he
nitely rejected
invited to the palace at Sofia, on Wednesday
evening,
clusion of
a
King Ferdinand protested against "the outrageous
ence
at Nish.
tion
of
old
affixed to
massacreing inhabitants.
Powers
williremoin
fleeing fromjtheir old oppressors."
crossed
by
the
public
after
the
signatures
cessa¬
have been
armistice and to peace preliminaries.
an
same
and]Tundja valleys and in
Chinese Re¬
against the
The overthrow of
only thing, leaders of
prevent civil
revolt
declare, that
can
tween Northern and Southern China.
places
ten
warships, including four cruisers,
east-- hai
a more
new
reported to have revolted
are
the Yuan Government is the
•;where Bulgaria entered Thrace in the autumn, by
to
war
On
be¬
Monday
at Shang¬
were
Southern movement, and
support the
directionjby Jamboli.|§A dispatch from Con¬ crusing
erly
con¬
the
Dispatches
Bulgarian frontier at the
the Maritza
They will only consent to the
hostilities
Government of Yuan Shih-Kai.
of Vienna declare that the Turks
way
Friday defi¬
Roumanian proposal for the
Eight southern provinces of the
insult.
under this
appeal tojthe representatives of civilization to
beg Europe to end the sufferings of the people who
from Sofia
antagonistic
on
I cannot believe the
impassive
I
are
and Servia
xcyii.
provisional armistice during the confer¬
a
action of
and
Servia's
to
Both Greece
address to the representatives of the Powers,
the^Turks, who, not;content with invading
territory in;my kingdom, are burning villages
owing
result,
attitude.
an
[Vol.
were
the Wu Sung forts; and 7,500 Southern
near
stantinople declares that circulars had been distrib¬
troops had surrounded 1,600 Northerns at the Kiang-
uted
Nan
inviting the entire Moslem population to attend
thanksgiving service Jatjfthe mosques yesterday
'a,
arsenal, whose fall
ble.
Attacks
(Friday) to testify to their gratitude to Allah for
times
the
pulsed
restorationjof Adrianople.
ernment, replying
test
of
on
The Ottoman Gov¬
Thursday to the Bulgarian
London, asserts that the advance of the Turkish
troops was compelled
the hope
expresses
by Bulgarian atrocities.
that
Bulgaria
will
It
recognize
was
Wednesday, and
on
declared to be inevita¬
arsenal
a
Thursday morning.
on
former
Provisional
issued
lion.
manifesto
a
In
were
the
re¬
Dr. Sun Yat-Sen, the
who
irrevocably
manifesto
was
The real leader of
President,
the first to President
repulsed three
further attack
the revolution appears to be
pro¬
against Turkey's alleged violation of the treaty
the
on
he
Thursday
on
backing the. rebel¬
makes
three
appeals,"
Yuan, recounting the Southern
the reasonableness of
Turkey's re-occupation of grievances and declaring that just resistance to in¬
Adrianople, and will help to restore friendly relations tolerable tyranny is no rebellion. He concludes;
by
a
display of similar specific sentiments to those
"I
determined to oppose you
am
animating Turkey. V The Ambassadorial Conference
the Manchus.
has met almost
course
daily in London this week, but
real function is the settlement of the
Balkan allies and Turkey,
The
war
as
its
between the
little could be accomplished.
British|Prime Minister,
Mr.
Asquith,
at
a
formal
in
the
However, the jealousies of the Powers
tion suffered
clude
either individual
note forwarded
with
the
Adrianople, it
was
collective
action.
In
a
Sunday acquainting the Powers
on
Porte's
or
decision
to
Thrace and
occupy
announced that the
new
Turco-
Bulgarian frontier line would be the river Maritza.
So far
as
the contest between the former Balkan
allies is
concerned, it is evident that Bulgaria is so
completely whipped that she is willing to arrange
peace on any
reasonable basis.
Russian Czar sent
response to
war,
a
Bulgaria's
Russia to end the
joy at the prospect of
peace.
The Czar
added, however, that the Bulgarians must be
for the statement, press
retreated
from
pre¬
Without giving authority
cables from London declare
Province of
Railway
of
a
Canton
15,000
troops
at
convinced that forcible
intervention to uphold the treaty of London has been
rendered
in
impossible by the foolish action of Bulgaria
disregarding the Powers' advice and quarreling
with all her allies and
Thursday declined to
withJRoumania.
agree
to
an
Servia
on
armistice with Bul¬
garia because the Bulgarians continue their surprise
attacks
of
on
Servians
and Greeks.
Representatives
Servia, Roumania, Greece and Bulgaria
met at
Nish to arrange an armistice arid
prepare the way
for a peace conference which was to have
been held
On
Roumanian territory.
TheTneeting
was
without
Su
early in the week and
Chow-fu
Pu-kow.
clares that the navy
and
taken up -a
Government de¬
The
will sink every ship engaged in
transporting the Canton expedition if
among
Yuan's
firm
ever
determination
it starts.
to
suppress
declared to be restoring confidence
the wavering Chinese, and has, to quote ad¬
vices from
Peking, elicited the approval of: all the
legations with the exception of the Russian and Jap¬
anese.
One
reply of President Yuan to Dr. Sun
Yat-Sen has been to annul the charter granted the
latter for the construction of
der this charter.
are
the "Punish Yuan'' expedi¬
the Hwai River, to await the arrival
lectively
They
The Southern troops
expedition, which is expected to land
China.
singly.
Government at
An-Hwet, where the .Tien-tsin-Nanking
crosses
that the great Powers will not interfere either col¬
or
only
The other
strong position at Lin Hwai-kwan, in the, adjoining
the rebellion is
Bulgaria's misfor¬
pared to make sacrifices.
have
as
a severe reverse
King Ferdinand in
appeal to
tunes and
Nanking known
President
expressing sympathy with
The
tone.
same
in the South without alarm.
On Wednesday the
message to
I did
as
your
Peking professes to view the revolutionary movement
from
to pre¬
firmly
addressed to the oficials and the people
were
are
speech in Birmingham, warned Turkey against
overstepping the limitations of5 the London treaty.
seem
as
absolutely
in the face of the present crisis."
appeals
and
Retirement is
Only
lish firm and
one
the
a
network of
railways in
This contract is held by
an
provides for the construction of
from Canton to
Chung-King-fu.
Government
has put a
a
contract has been concluded
price
on
will
un¬
Eng¬
a
line
This, it is stated,
recognize.
President
Yuan
the heads of General Huang-hsing,
leader of the present revolt, and one of the
heroes
of the revolution of 1912.
on
He has also put a price
the head of General Chen Chi-mei, a prominent
Southerner, and
of the
are
upon
that of Po Wen-wei, Governor
Province of An-Hui.
The
Southern
rebels
reported to have killed twenty officers who had
remained loyal to the Peking Government, including
July 26
the
Governor of the Province of
new
Ngan-hwei.
Peking correspondent of the London "Daily
The
Telegraph"
Thursday sent
on
garded
was re¬
admission by the Northern Govern¬
an
as
dispatch declaring
a
been declared, which
that martial law had
equal footing as regards shipments of arms and
an
ammunition from this
ment is felt in
last two
March
Japan
over
the American reply to the
The supply of
the
violates
Japanese-American
does it suggest any
treaty.
Neither
solution of the difficulty.
The
situation in Japan, according to the dispatch in ques¬
tion, has reached
deadlock.
a
The Mikado's Gov¬
decided
its next step, but it
ernment has not yet
is
on
desirous of maintaining friendly relations that
so
it is not believed that retaliatory measures will be
undertaken, such
the
on
ground that it is useless
citizens
American
of
the denunciation of the treaty
as
or
Japan.
in
reducing the rights
committee of
A
A
dispatch
suggested to the Huerta Government that it
demonstration upon the arrival
has
will not sanction any
the
an
anti-American character.
said
at
the
General Feliz
Diaz left Mexico
^
are
Japanese
for
Government
of the latter in the Mexican
the
Saturday
news
participation
the
In
Centennial in 1910.
importance has been at¬
that
a
committee of Japanese
appealed to the Government to permit the colo¬
by Japanese.
The
has
nization of the State of Morelos
'
•
friendship.
on
thanks of Mexico to
President Huerta to convey the
the
City
Japan, where he has been sent by
his way to
on
tached to
Negotiations with that end in view
his Government was
time that
same
Japanese has appealed to the Mexican Government
in progress.
The Charge d'Affaires
pleased by the manifestation of Mexican
last
of
Japanese Minister which might partake
of
for
Japanese.
City
Mexico
from
Japan, through its Charge d'Affaires there,
connection with his visit,
permission to colonize the State of Morelos by
and ammunition
revolutionists through action taken by the Taft
can
ownership legislation.
The reply does not
arms
has already been closed to the Mexi¬
in this country
states that
of the Japanese contentions that the bill
from this country to the Huerta
war
Japanese notes in reference to the Califor¬
any
and prevent the exportation of
1912,
14,
Administration.
nia land
accept
Tokyo state that deep disappoint¬
authority
vested in him in a resolution passed by Congress on
Government.
Advices from
The
country into Mexico.
President will, it is suggested, exercise the
munitions of
desperate position.
ment of its
201
CHRONICLE
THE
1913.]
Administration
is
however,
Washington
at
not
'
C
Henry
American Ambassador to
Wilson,
Lane
Mexico, who sailed from Vera Cruz on Thursday of
last
stood, it regards as a piece of political by-play.
conference with
President Wilson and Secretary
Bryan, on Saturday, laid before the
Mr.
immediately proceeded to Washington and will have
a
.
He
York yesterday.
week,; arrived in New
which, it is under¬
concerned at this development,
Committee of Foreign Relations a
Senate
proposal to rati¬
President Wilson has fy by treaty what would suggest an American pro¬
regarding the representations tectorate over the Republic of Nicaragua. He
made
last
week by some
foreign governments proposed to incorporate in the pending treaty of
asking a more practical effort on the part of this Nicaragua three clauses of the so-called Piatt
Meanwhile,
Bryan to-day.
taken
no
definite steps
Government
their
protect the lives and property of
to
The President has been
subjects in Mexico.
endeavoring to inform hirnself on every phase of
Ambassador
hopes
formulate
to
a
situation and to pursue
can
mediation
contending factions,
the
between
with the ultimate
object of holding
national election in the
a
constitutional
Republic the results of which
the leaders of both factions would accept,
is
one
of
plans that President Wilson is said to have in
the
mind, though thus far it is merely
That
on
Pacific
it persistently.
by the United States to pave the way for
reconciliation
the
was
idea
Wednesday at
a
a
tentative one.
conveyed by President Wilson
conference with Senator Bacon,
Chairman of the Committee
and
on
Foreign Relations,
Representative Flood, Chairman of the House
Committee
on
Foreign
Affairs.
difficulties in putting such
appears a
shall be
many
ai plan in operation,
as
it
to
guarantee
an
honest
election that
A
mediation, according to the Presi¬
acceptable to the contending interests.
commission
dent's
There are
rather hopeless task for the United States
Government
of
plan, is to be authorized by Congress and ap¬
pointed by the President.
The members are to pro¬
ceed to Mexico and confer with Provisional
Huerta
and
other
of
the
President
principal leaders.
Huerta Government and the rebels under the
ership of Carranza
refer to the
on
over
United
States
now
the Republic of Cuba.
We
the
subject at length in
separate article,
a
another page.
/
are,
The
lead¬
it is reported, to be put pn
Exchange and the Continent
On the London Stock
definite poli¬
for his Administration in regard to the Mexi¬
cy
control
Following these conferences,
Wilson.
President
the
a
situation before his conferences with
Mexican
the
exercises
which
under
amendment
tal Bourses
condition
this
But
nervousness
has
not
produced
any
to have been to cause
.pronounced idleness
responsible for this nervous
condition!
has been the renewal of the revolutionary
China;
and,
Balkans;
third,
the increased
All these influen¬
tension of the Mexican situation.
ces,
First
movement
the further sensational develop¬
second
the
in
ments
among
In London three influences have
market operators.
in
severe
The only result, in fact, seems
degree of weakness.
been
has been displayed this week.
it will be observed, have dealt with the foreign
They
political outlook.
seem
to have been very
generally ignored in the financial district in New
York, which has displayed a more
tainly
more
siderable
confident
period.
concerned,
cheerful and
attitude than for
So far
as
the situation in China is
it is quite natural that the American
market should be less affected than that of
since
our
cer¬
a very con¬
bankers
ceased
to
take
an
London,
interest
in
Chinese finances when the Administration at Wash¬
ington immediately after assuming office specifically
withdrew
financial
from
any
transactions
obligation To
entered
bankers with the Chinese
at the
into
republic.
stand
by
behind
American
China is only
beginning of its financial requirements, and
302
the
CHRONICLE
THE
new
revolution, to which
in another
refer in greater detail
we
-handicap in the placing of additional loans, but is)
apt, too, to create
degree of uneasiness among:
some
present holders of the Oriental republic's
The Balkan
obligations.
situation, from the London viewpoint,
to contain
seems
outlook Sir Felix said that it
prove a severe- to
column,is not only likely to
possibilities of complications of an
[Vol.
accurately forecast
because of the
year
was
no
certain
a
amount
self-restraint
development
speech at Birmingham on,
a
Monday evening, warned Turkey against overstep¬
excessive
Minister,
in
Mr.
formal
a
Asquith, the Foreign,
This had
ping the limitations of the London Treaty.
In
Adrianople by Turkey, and resulted, according to
dispatches cabled from London, in
the British
at
entire
the
centre.
Inasmuch, however,
has been carried
war
firmer market
a
in direct defiance of
on
Powers, there is certainly
the;
as
some
question whether
Turkey will feel impelled to heed the warning, know¬
ing,
it does, that the European Powers will only
as
with
the
force,
even
should it finally happen that
is reached
agreement
key
should
be
the
by
forced
Bulgaria, having been
actual
any
that
Powers
evacuate.
to
employ
themselves
reluctance
greatest
Tur¬
Meanwhile,
completely humiliated and
so
money
in
are
concerned,
much
a
turbance appears to
more
a
market influence
serious view of the dis¬
be taken in the British centre
than at home.
prospects.
The week's
at
so
London,
ble,
market
A
has
Smiths
-bank
they
was
the speech of Sir Felix
Governor of the
Union of London and
Bank, at
the semi-annual meeting of the
Wednesday.
on
mendous
While conservative, Sir Felix
optimistic.
He reviewed the tre¬
depreciation that had taken place in securi¬
ties and quoted the statistics of the. Bankers'
zine for the last six years.
that
the
value
aggregate
securities dealt in
For
a
single
of
387
the Stock
on
year
Maga¬
he showed
representative
ca¬
The
on
5%% basis,
a
over-subscribed.- The South African
Government is
offering £1,000,000 in 4% notes at 97.
The
city of Winnipeg is offering $690,000 4%%
stock
50-year
This
97.
at
also
has been
over¬
Comparison is made by London cables
offerings of Canadian railroad .obligations in the
New
York
and
London
markets.
The
Canadian
Northern, for instance, offered notes in New York
6%% basis, while
a
72 15-16
don
a
a
British Consols
at 72%, which compares with
week ago.
Stock
similar issue by the Grand
only 5%%.
Balkan securities
Exchange
ruled
have
on
the Lon¬
rather
firmer.
Bulgarian 6s closed 2 points higher for the week at
98%.
Servian Unified 4s
are
without change from
75, but Greek Monopoly 4s have advanced 1 point
and closed at 54,
at
while Turkish 4s
also 1 point-
are
Russian 4s finished 2 points higher
higher at 84.
90, and German Imperial 3s remain without alter-'
ation from 73.
"
In Paris there is
Exchange had de¬
creased from
money
securities
were
closed last evening
actually weak.
own
new
Ry. of Canada, for instance, offered
dull
than
our
rather easier feeling.
£1,000,000 5% equipment notes
and
Rates,
much lower
closely with that held
very
offering of
a
Trunk in London cost
rather
.autumn.
move
they have been reported by
have already noted, the London
nevertheless
was
as
as we
sustaining influence
Schuster,
far
have suggested
Grand Trunk
at
•
the
need not expect
be remarked that this view of the
ruled
However,
we
banking circles here regarding
of
as
may
situation coincides
So far
the Mexican situation
necessary.
capital, the
now."
passing, it
subscribed.
as
in
rates
money
beaten, is not likely to itself force the Turks to retire.
is
was
new
be somewhat retarded,
may
fair amount of caution
however, cannot be expected to
special reference to the reports of the re-occupation! than they
of
There
view, though
speaker-said: "We must not lend too freely abroad.
but with
character.
alarmist
an
Speaking of the active demanj for
General
undesirable
until the end of the
obscure factors.
many
of
almost impossible
was
money
whatever for
reason
xcvii.
some
strain reported by cable in
£3,588,531,000 in June 1912 to £3,396,940,000 in June pf this year.
This depreciation
the
banking situation, one of the well-known banks—
not
one
he
cable to the "Journal of
argued must offset in large
'measure
prosperity and activity of trade.
that
recovery
rapid
as
attention will turn itself
now
of
war
wars
in the Balkans and
elsewhere cannot but be
kets of
credit
upon
the
money mar¬
Europe that the strain has been stood
the
economic
loss
has
been
so
enormous."
of the largest—
being, according to
a
Commerce," heavily
special
encum¬
bered with securities, while its liquid resources are
not
sufficient to meet the demand for
largely responsible for this possible
are
says,
embarrassment.
formal
necessary
American securities, the cable dis¬
readjustment.
patch
a
On
the
other
hand,
the
The" correspondent adds, it is reported with definiteness
greatest importance in finahcial affairs and
I think it reflects great
for
to home securi¬
more
yield such tempting returns.
preparations for
the
saying,"that investors'
as
once
continuance of disastrous
the
as
"I think it is highly probable",
quoted by cable
ties, which
But he believed
would'soon set in and would be
the decline.
Sir Felix is
the great
well,
The
that the institution
will be accorded the necessary
aid.
The Paris
markets, however, have not ruled-
weak
and
shown
have
nervousness
at
times
signs of
distinct
The Mexican situation is causing some
cheerfulness.
in French financial circles
English, and conferences
have
been
as
well
held
as
in
almost
losses, the speaker said, have been estimated at 348,-
daily in Paris to discuss the affairs of the Mexican
000 killed and wounded
National Railway.
ing in property.
figures
He
and
hoped
£246,000,000 sterl¬
that these appalling
exaggerated; but the effect of such
were
was
incalculable.
war
and of preparations for
considerable
countries.
at
Furthermore in
war
on
are
peace
the
amount
will
gradually return
of
which
it
to
bring .considerable relief.
is
of
the Continent,
restored
is
the
difficult
these
to
hoards,
estimate,
monetary centres and
Referring to the
It is reported that Paris bankers
willing to lend further amounts under the
|osses present circumstances.
consequence
money
French rentes closed last
evening on the Paris Bourse at 84.60, which
pares
com¬
with 84.40 on Friday of last week.
The Berlin markets this week have ruled dull and
hoarding had taken place in various
When
not
depressed.
to
Shipping shares have been.weak, owing
reports of a prospective war of rates between the
two
great steamship companies; namely the North
German-Lloyd
and
the
Hamburg-American
Line,
July 26
THE
1913.]
CHRONICLE
"
The
dispute
concerns an
.
...
,
There was a decrease
agreement between the lines expansion of 2,485,000 francs.
''
of 115,375,000 francs in note circulation and of 12,V
r *
i
'
'
.
tff-t
regarding the emigrant traffic to the United States.
At present
the
43%
creased
third-class
the
of
and
burg-American demands a readjustment on the basis
89,050,000 francs.
of
amount
53% for the North German-Lloyd and 47% for it¬
to
especially with the new ships of the Imperator class,
francs
3,296,950,000
francs
entitle
traffic.
If
it
to
satisfactory
a
in
626,550,000 francs.
not
798,650,000 francs and two
minate
on
out to
get as much traffic as possible.
day and each line will probably start
expect
were
at
3%%
are
1911.
bills
long
is
4%%> which is
with 3 % a
night
dam
an
advance of }£% for,the week,
j
discounts,
London, 4J^%;
total
a
year
one
com¬
and
ago
Combining loans and
total of 1,039,297,000 marks,
against 1,079,380,000 marks in 1912,and 983,020,000
marks in
Paris, 4%;
year
1911
The item of
1911.
of
excess
Brussels, 5%, and Am¬
Vienna, 6%;
Berlin, 6%;
have
we
The
1,486,870,000 marks and
1,235,820)000 marks in 1911.
The official rates at the leading
are:
marks.
17,631,000
with 1,229,360,000 marks
pares
The closing private bank rate in Vienna
centres
increased
amounts to
now
shown, of 13,748,000
was
106,377,000 marks in discounts.
Deposits
in Berlin closed at 2J^%, comparing
£%%.„
A contraction of 107,649,000
.cash
business is being
at5%%, at Brussels 4 7-16% and Amster¬
at
vforeign
marks in loans and
week ago and a range of 3 @3 K% a fort-
ago.
:remains
cases
17,746,000 marks in
gold supply and of 41,749,000 marks in the total
marks in note circulation
the
was
increase of
an
cash, including gold.
In Berlin the private discount rate
3%%.
while money
the
4@4 1-16%.
at
weekly statement of the Imperial German
Bank indicated
Paris is still quoted at
ago.
3M%> though in exceptional
closed at
The
■
The
are
reported by cable last evening,
and
week
a
1911.
1,564,726,000 francs, against 1,120,-
961,192 francs in 1912 and 1,123,115,038 francs in
easier.
Money in London closed at 2%%, which
closing figure
circulation is 5,552,127,000
with 5,088,360,600 francs in
compares
discounts
In Lombard Street sixty-day bank¬
ers' acceptances, as
closed
was
850,900,000
with 5,024,986,605 francs in
week, though private bank rates
slightly firmer.
ago
changes in the official European
no
bank rates this
aggregate
the total
ago
years
1912 and
which will tend to make money
There
3,192,000,000
Unemploy¬
general slackening of business,
a
and
and
holdings
year
now
with
compare
Germany, and the bankers
ment is on the increase in
Berlin
One
The outstanding
francs
of
1912
the
francs.
deposits increased
silver
is
re-arrangement
concluded by Dec. 31, the existing contract will cul¬
that
in
The
1911.
of
corresponding share
a
treasury
The Bank's gold holdings
3,351,387,000 francs and
self, asserting that the greater tonnage of its fleet,
now
General deposits in¬
73,775,000 francs, hills discounted increased
The Ham¬ 3,875,000 francs
business from German ports.
passenger
225,000 francs in advances.
the North German-Lloyd get 57% and
iHamburg-American
recent
being 1,826,005)000.
years,
ago.the total
was
circulation is still in
One
1,644,426,000 marks, and in
1,554,040,000 marks
even.
sterdam, 5%.
An easier
The
weekly return of. the Bank of Englandowas
irather f colorless.
indicated
It
coin and bullion holdings
in the total
increase in
an
gold
tionally below those of last week.
of £497,866 arid of £429,000
no
money
There is, however,
expectation in representative banking circles of
much lower rates
The proportion of reserves to
reserve.
tendency has been shown in local
circles, closing rates for fixed maturities being frac¬
during the remainder of the
year.
liabilities increased 53.69%, comparing with 53.35%
No important demands have this week
beeii niade
last week and
the market in the form of note issues.
The Seaboard
in
crease
50.40%
There
a year ago.
was an
in¬
Air Line has sold to
public deposits of £1,144,000, and loans
showed the
very
moderate
in
expansion of £60,000.
Ordinary
deposits
Bank
One year ago
ago
the total
£41,161,348.
was
The
reduced
£658,000.
New
holds in gold coin and
now
were
The
stands at £27,716,000,
equipment
York
I
at
all
character.
ishows
a
total
of
securities")
("other
£29,182,000,
as
compared with
£33,875,195 in 1912 and £28>436,705 the
ceding.
The Bank of England
on
year pre¬
Monday obtained
on
to
favor
funds* to
£600,000 of the £700,000 South African gold avail¬
rates.
year
open
'The remainder
market at London
was
Monday.
on
secured for India.
Our
special
is
thus far
Bank week:
John J.
nil,
and
bought in the
shipments
of
open
market);
£196,000
net
to
the interior of Great Britain.
the crops
of
industry
to
and
any
con¬
basis,
be
im¬
affected
seem
distribution
of
without special strain in
Chicago
advices suggest that the West
on
The drain upon
seems
Mitchell
it
reserve
cities
to have been confined to the Southwest.
President
expressed the belief that
as
the East for assistance
the central
Saving Bank of Chicago in
West
great
inclina
light, and the prospects
likely to draw heavily
gold,-movement into and out of the Bank for the
exports,
no
terms.
Crop requirements promise to be heavy this
this fall.
Imports, £694,000 (of which £153,000
are
and
likely
accumulation
move
and
correspondent furnishes the following details of the
from Brazil and £54 L000
the
is
conservative
merchandise
by tariff changes
able in
the
of
exercise
There
trade
particularly
a
private
speculative movements
Meanwhile
portations
account
aid
to
on
to
notes
continue
tion
tinue
loan
bankers
loaning their funds.
in
The
trust
in
comparing with £30,282,216 in 1912 and £30,422,028
1911.
syndicate of bankers $1,900,000
a
care
bullion £38;727,071.
£41,163,856 and two years
reserve
5%
on
will
be
in
of
a
money
the
Illinois Trust &
published interview
is
as
November.
high
A
now
in the
great many
borrowers, having become apprehensive, have already
secured more than they needed and have made
gold, the holdings of full arrangements for their autumn requirements.
The statement of the Bank of Prance
flected the arrival of American
the precious metal registering
000
francs,
while
the silver
an
clearly
re¬
increase of 22,709,- Thus they will not be in the market at the time of the
holdings
showed
an
crop-moving demand.
Again, continued Mr. Mit-
CHRONICLE
THE
204:
chell, the banks are not lending to borrowers with
enterprises to promote
new
to
facilities.
their
expand
to borrowers who wish
or
Saturday's statement of the New York Clearing
an actual cash surplus of $20,272,200
House showed
comparing with
in the banks and trust companies,
The cash reserve
year.
for the week decreased $646,000 but there was
owing to
a
an
above requirements of $857,400,
increase in the surplus
reduction in these requirements of $1,503,contraction of $7,752,000 in
400
resulting from
a
the
deposit item.
of
The banks will this week be called upon
for the August dividend and interest dis¬
to prepare
situation.
affect the call-
,
Call-money rates during the week have been vir¬
of
maintenance of discounts abroad have been
in
the
demand for remittances
close the
until
The ruling rate
day and Wednesday
day.
Time
week
a
from
Monday
was
On Thursday it
2%%.
rates, as already noted, closed at
fractional reductions, sixty
days finishing at 3%@4%
(against 4@4%% last week) , ninety days at 4%@
4%% (ag^n^t 4%@5%), four months at 5@5%%
(against 5%@5%%), five months at 5%@5%%
(against 5%@6%) and six months at 5%@5%%),
five months
at
six months at
5%@5%% (against 5%@6%) and
5%@6% (against 6%).
has been in rather better
paper
Commercial
demand by local
institutions, though out-of-town buyers have taken
of the supply
most
which has been liberal.
siderable amount of New
Closing quotations
Continental
in Paris
shown
slight
reported by cable last evening closed at
as
francs, comparing with 25.24% francs
At Berlin the demand rate at London finished
without
change at 20.46 marks.
England
paper
A
con¬
has sold at
names
are
of choice character.
Others
quoted at 6%@7%.
as
exchange
a
week
Berlin exchange
on
reported by cable, closed at 123.35 francs,
Compared
on
with
figure of Friday of last week.
Friday
Saturday
was
of "last
week,
sterling
unchanged, with demand
again quoted at 4 8655@4 8660, cable transfers at
4
8705@4 8710 and sixty days at 4 8305@4 8315.
On
Monday,
steadied
mand
to 4
and
after
early
developed
the
weakness,
strength
market
easier
on
local
rates and firmness in discounts abroad; de¬
money
advanced to
4
8670@4 8680, cable transfers
8710@4 8720 and sixty days to 4 8315@4 8325.
Trading
was
narrow
limits;
light
on
Tuesday and rates moved within
demand
and
cable transfers ruled
unchanged at 4 8670@4 8680 and 4 8710@4 8720,
respectively, while sixty days advanced to 4 8325@
4 8335.
On
Wednesday the tone became firmer, and
demand advanced to 4
to 4
for
single
have
The sterling check rate
25.25
ninety-day endorsed bills receivable and for four to
are
the day following
on
exchanges
changes during the week.
8720@4
the
six months'
to¬
holiday.
The
6@6%% for sixty and
6%.
as
which will be Bank
delivery in time for business
the
Monday, Tues¬
on
2%%, at which it continued yester¬
money
light,
was
factor
At the
Holiday, while next Tuesday's steamer will make
which is the identical
reduced to
The
day's steamer will not deliver its mail in London
highest for each day until Friday, when 2@2%%
was
a
the foreign exchanges.
firmness in
Paris,
the range.
the local market.
on
rates here and the continued
money
tually pegged, 2% being the lowest and 2%% the
was
commercial bills, the
or
circles here having rather dis¬
ago.
bursements which may temporarily
money
money
lending their proceeds
easing-up
Loans for the week decreased
$3,423,000.
feeling in
xovii.
accommodation couraged the drawing of finance, bills for the purpose
The
usually extended to these classes of borrowers will
therefore be available for other lines of business.
$10,165,800 at this date last
of either finance
pressure
easier
[Vol.
8680@4 8690, cable transfers
87S0 and sixty days
day's chief factors
to 4 8330@4 8340;
were, a more
active inquiry
exchange here and slightly higher discounts at
Dulness
London.
prevailed in sterling
Thursday
on
Sterling exchange has ruled firm throughout the
week, though there have been
ments of
$200,000,
ment,
additional
no
engage¬
A small
engage¬
gold for export to Paris.
arranged
was
for Belgium.
Re¬
change; demand declined
5
„
and rates showed but little
on an
points to 48675@4 8685
quoted at 4 8720@4 8730; sixty days moved up 5
points to 4 8335@4 8345.
ruled
On Friday the market
quiet, owing to a light demand, and sixty-day
ports cabled from London quote very large engage¬
bills
declined
ments of
were
4 8320@4 8330 for sixty
gold
as
having been made in South America
for that centre, a
course
of
shipment.
facilitated
not
They will
York for
metal.
least
at
a
handicap
The
continues
position
demand
and
accept
scarcity
of
gold
bars
is
for
farmers
present
are
American
evincing
prices.
In
grain
a
dis¬
addition
selling their old wheat, which they have been tena¬
ciously carrying, they
are now
virtually selling their
grain "at the threshing machine," to quote
a Chicago
president, and this disposition to accept present
prices is interpreted as affording a price level that
Commercial
fers.
documents for
and
at 4
on
days, 4 S675@4 8685
8725@4 8735 for cable trans¬
banks closed at 4 81%@4 83,
payment finished at 4 82%@4 83%
closed at 4
The New York
with
Cotton for
pay¬
82%@4 82%, grain for payment
83%@4 83%.
erations
quotations
Closing
sharply.
seven-day grain bills at 4 85%.
ment
upon
movement of gold from New
upon a
foreign
active
to
moderate, if they *do
the foreign demand
rather
for demand bills and 4
additional amounts of the precious
continued
The
York.
to
and will relieve the foreign situ¬
season
entirely terminate,
New
still
These engagements have been
by the low prices of coffee and rubber
ruling this
ation.
considerable part being already in
easier tendency in
English discounts, though cable transfers were still
V
.
Clearing-House banks, in their op¬
banking institutions, have
interior
gained$14,087,000net in cash as a result of the cur¬
movements for the week ending July 25. Their
receipts from the interior have aggregated $19,461,000, while the shipments have reached $5,374,000..
Adding the Sub-Treasury operations and the gold ex¬
ports, which together occasioned a loss of $3,824,000,
the combined result of the flow of money into and out
of the New York banks for the week appears to have
rency
bank
will
mean a
Demand
continued movement of American
sterling this week touched 4 8690
grain.
Banks.
Banks' Interior movement
Sub-Treat, oper.
as
high
as
4 8735.
—1
and gold exports..
$19,461,000
22,685,000
Out
of
Banks.
There has been
no
Total
'$42,146,000
Net change in
Bank Holdings.
$5,374,000 Gain $14,087,000
3,824,000
26,509,000 Loss
and cable
e
transfers sold
Into
Week ending July 25.
.$31,883,000
Gain
$10,263,000
July 26
the
principal European banks.
in the
of the benefits which would naturally flow
cause
of bullion
following table indicates the amount
The
Nicaragua in return for exclusive rights to
July 25 1912.
July 24 1G13.
Banks of
38,727,071 41,103,850
159,109,200 131,877,540
14,200,000 72,034,450 48,954,350
7,676,000 168,405,000 151,855,000
9,407,000 59,966,000 51,592,000
29,884,000 48,242,000 17,059,000
3.700,000 50,118,000 42,409,000
40,418,000
666,700 12,773,700 12,014,000
12,107,000
6,769,333
4,017,000 12,051,000
8,034,000
6,333,000
5,700,000
6.700,000
0,541,000
0,653,000
0,541,000
2,166,000
2,437,000
2,437,000
_
Italy d._.
Netherl'ds
Nat.Belgd
Sweden
Swltaerl'd
Norway..
26,053",760
31,945",640
17,514,050
7,979,000
12,237,000
30,138,000
3,660,000
•
establishment of
£
£
£
£
£
£
France—
'construction of any future
Total.
Silver.
Gold.
Total.
Silver.
38,727,071
134,055,440
57,834,450
Germany
Russia a.. 160,729.000
Aus.-Hunb 50,559,000
18,358,000
Spain
England..
973,700
3,384,607
41,183,856
163,823,280
66,468,400
159,834,000
63,829,000
47,197,000
46,069,000
12,987,700
10,154,000
5,333,000
6,653,000
2,186,000
94,004,460 636,804,421 517,846,179 107,832,057 625,678,236
95,927,927 634,673,735 514,955,804 107,403,247 622,359,111
Tot. week. 541,499,961
Prev. week 538,645.808
held abroad—
that Is, the amount held for Russian account In other Continental banks.
The
proportion so held, and consequently duplicated in the above statement, is about
•
the Bank of Russia includes the balance
The total of gold In
one-ninth of the total this year,
against about one-alxth a year ago.
Bank statement Is now issued in Kronen and Heller
Instead of Gulden and Kreutier.
The reduction of the former currency to sterling
Pounds was by considering the Gulden to have the value of 80 cents.
As the
Kronen has really no greater value than 20 cents, our cable correspondent in
London, In order to reduce Kronen to Pounds, has altered the basis of conversion
bThe Austro-Hungarlan
by dividing the amount of Kronen
by 24 instead of 20.
The
to
of
offers
somewhat similar
a
taken
In fact, this week's
somewhat vehement expression of
a
antagonism from the other Central American re¬
The two special points dwelt on in these
publics.
comments
were
that the efforts at
a
union
or
confed¬
of the five Central American governments
once and for all by such a treaty with
would be ended
mark
Nicaragua, and more than this, that it would
Foreign Affairs Committee of a
the
beginning of
the
In
"American invasion" of the Isth-
an
':?v
r';*'
mus.
Senate,
able
far
so
highly favor¬
a
speaking for the
Lodge,
Senator
reception.
:
Washington dispatches
as,
proposal met with
have indicated, the
That Nicaragua has for the past few years
virtually in a state of anarchy is well known.
question.
been
been
but that the Gov¬
of the Nicaraguan plan aroused, as
expected,
was
a
considerations
agreement had
kindly to the proposal.
announcement
head certain extremely troublesome
which; have long surrounded that
brought to
the nucleus of
American States had not
ernments of those Central
„
has
was
made to Honduras and Salvador,
policy by our Government toward Nicaragua
new
whether it
general policy to be pursued toward other Central
American States.
It was presently intimated that
by the Secretary of
The tentative announcement
clear
appear
account of the possible canal route
on
that country, or
eracy
State to the Senate
it did not
policy adopted solely with regard
a
PLAN.
THE NICARAGUA
at first received with much per¬
was
was a
Nicaragua,
across
isthmian canal and the
naval base.
a
especially since
whether this
'
and silver) given in our table of coin and bullion in
the Banks of Italy and Belgium is made from the best estimates we are able to
obtain; It Is not claimed to be accurate, as the banks make no distinction in the
weekly returns, merely reporting the total gold and silver; but we believe the
division we make Is a close approximation.
proposal
plexity,
d The division (between gold
'
from
$3,000,000 in gold which the plan simultaneously
offers to
Gold.
205
CHRONICLE
THE
1913.]
opposition party, perhaps summed up this favorable
of the feeling by affirming in his speech of Monday that
country appears to have been alternately controlled "if we are going to maintain the Monroe Doctrine,
by rival dictators, whose military forces have it is absolutely necessary that we should see to it
During most of the time the greater part
amounted to little
our
ruined.
own
on
Our
?
that order is maintained in the
trade in that naturally
has, been all,
the matter
Administration
ing the citizens and interests not only of our own coun¬
have consulted
with much concern, and it
state of
into
drawn
Senator
anarchy and how little of
practicable
ble
..
military intervention
Spanish domination.
"That
should not
war
consent of the United
"That
no
treaties
would
the
'
be
a
or
made with foreign
her inde¬
that would give those governments a
foothold in the
republic.
public, debt would be contracted beyond
the ordinary resources of the Government, as indi¬
cated by the ordinary revenues.
"That the United States should have the right to
"That
no
intervene at any
time to
preserve
Nicaraguan inde¬
or to protect life or property.
"That the United States should have the
pendence,
right to build
a
canal
across
exclusive
Nicaragua, and should
99-year lease to a naval base in the Bay of
Fonseca and to the Great Corn and Little Corn
have
a
Islands in the Caribbean, with the privilege
of
renew¬
ing the lease."
It
was
the
reported, and apparently with authority,
Nicaraguan Government
just
They
was
are
*
This is
a
us
new
subservient dependencies.
a republic, which
role for
preaching from
now
we
million rostrums popu¬
people to
a
government and the rights of every
say
what kind of government they shall have."
The
is
problem involved by the Nicaraguan situation
It is true that
undoubtedly trying and vexatious.
the Monroe
preted it,
like
Doctrine,
warns
aggression
on
Government has inter¬
as our
off foreign Powers from anything
Central
South American States
or
by whom such foreign governments or their citizens
may
have been aggrieved.
These foreign Powers, in
turn, naturally complain that
in these
up
to the responsibilities
have
unless
we
restore order
republics to the south of us, we are not living
deliberately assumed by
us.
Europe, in particular, believes itself to
Therefore
grounds for complaint.
Yet,
willing to
enter into the treaty, largely because of the political
advantage which would inure to the de facto, govern¬
ment with which the agreement was drawn, and be¬
that
*
If
lar
governments that would tend .to destroy
pendence,
self-governing people.
independent people.
monarchy and they to
*
is
way a
take them over,
destroy their nationality, and we become to them
us an
we
,
be declared without
States.
America,
own
to
bind her¬
self to the following agreement:
Central
of
governments
faulty and defective, nevertheless represent
"in their
In the present case it is
proposed that Nicaragua should voluntarily
The
however
had freed that country
from
logic is complete dominance and controlling own¬
Canal."
when
imposed by the Piatt amendment on Cuba,
our
"It is," he de¬
ership by the United States from here to the Panama
the close of last week was
that
Republican, exemplified very
a
clared, "the beginning of that policy whose irrefuta¬
plan announced by the Secretary of State at
similar in general scope to
The
Borah, also
strongly the opposition to the plan.
efforts at ending
benefit resulted from those attempts.
On the other hand,
try but of all other nations.
forgotten how constantly the Taft
was
republics bordering
the Caribbean Sea"—this with a view to protect¬
on
Foreign governments
will not have been
the.
than armed banditti.
and highly productive country
fertile
but
mpre
have reported that
consuls
on
the other hand, when we intervene under
the Moqroe
Doctrine,
as we
have done
on
occasion in
several of these States for the protection of the in¬
terests of the Central
the States in
comment
is
American people themselves,
question immediately resent it.
in "line
with
what
we
have
The
already
206
THE
CHRONICLE
quoted
as
the remarks of other Central American
peoples
on
the Nicaraguan proposition.
known
fact
that
the
even
It is
in
residents
American
Nicaragua welcomed Mr. Wilson's election
ine,
well-
a
the
to
a
as a
[Vol.
direct result of this proposed arrangement,
involving us not in a protectorate in the
situation
usual sense of that
term, but in constant and irri¬
tating warfare with the very country or countries
Presidency because they believed that his adminis¬
whose interests
tration would
guard.
to
Mr. Taft's
reverse
the matter
on
Yet
plan proposed puts
this consideration
even
does not settle the question, What is to be the
mate end of such
policy?
a
It is difficult to
legiti¬
see
how
step of this sort could fail to lead, in the logic
one
events, to at least great pressure for another in
the
direction..
same
Nicaragua
This proposal for a protectorate
occurs at a moment
kind of urgency
when the strongest
is being applied at Washington for
intervention in the Mexican situation.
the question of a
exist in
It is true,
possible inter-ocean canal does not
Mexico; but the actual basis for the proposed
with
agreement
Nicaragua
NEW
undoubtedly
is
the
"The
■
to
■
Railroad
marks
of
these
in
matters
forced.
For
resignation
we
out last week that Mr.
for the
step
believe it
best
It is
man
a
throughout the world," is
reasoning that prevails
portant questions.
The Senator did not
these im¬
for
seem
international law, if the doctrine that the
or
a
have considered what would become of.
moment to
local
sample of the
a
even now on
question whether
country, and in this
con-
stitutional restrictions and immunities of
any State
cover its
citizens, under whatever government
should
they might choose to live,
to be adopted by all
were
nations in respect to one another.
Nor is it
possible to
Cuba and with the
tectorate
or
adventure
a
that
a
ownership is encouraging to
experiment
result
of
Yet
sort.
the
was
these
forced
Spanish
on our
renewed
a
were
pro¬
instances
Government
The subsequent
war.
force the
with
a
of
a
the
We
property.
to
the
accept
capable railroad
more
sense
distinct loss.
result
control.
from
his departure from
But the
his
disadvantages
remaining
than
more
He has himself stated with
objections that existed to his continuing
The official announcement credits him
having declared, what is undeniably true, that
condition had arisen which
was "full of
disquieting
possibilities for the New Haven and its allied prop¬
erty."
was
He is represented
useless to discuss the
that condition.
way
experience with
our
Philippines in the matter of
of the
where the
say
would
rare
in
con¬
because he thinks the
than Mr. Mellen is to be found anywhere in
offset the possible gains.
with them
given
••
citizens should protect them on
loose
doubt
severing his
V-
...
that
go
or was
to
reason
equally wise for the directors
form, that ."the constitutional rights of American
borders and
no
wise for him to reach this conclusion
was
control marks
our
such occasions,
voluntary
was
Mellen is
interests
Mr.
as
less talk is being
or
upon
see
nection with the
management
the
last year's Democratic plat¬
the
manage¬
the truthfulness of the official announcement
New
on
Mellen from
important
as
More
ourselves
during the present week has not been altogether of a
reassuring sort.
The statement of Senator Fall of
Mexico, based
event
is customary
as
to whether the
as
Senate
the
AND
advent to the executive
of the
property.
ment
indulged in,
resignation.
discussion
an
Mellen's original
and
The
RAILROAD
MELLEN.
resignation of Charles S.
anarchy which exists in that country, and the state
as
undertaken
presidency of the New York New Haven & Hartford
of affairs in Mexico is
assuredly hardly less disastrous.
HAVEN
MR.
somewhat different basis from other
a
proposals of the sort.
in
ostensibly
1
THE
presumption thatNicaragua
has assented in advance to the
of
had
we
Nicaragua.
In the present case the
.
policy with, regard
xcvii
having said "that it
as
reason
for
or
That it had to be met,
it could be met, having
for the property, was
the
causes
of
and the only
consideration
proper
by his resignation.
That he
felt that everything that he had done was and would
in
time
be
justified.
That there
was
whether if he remained to work out the
that
a
question
problem to
justification it would not be still further
barrassed."
It
is
to
Mr.
Mellen's
credit that
em¬
he
expenditure involved in the Philippines,
and the utterly unsatisfactory conditions which have
prevailed with regard both to those islands and to
constituted the most serious obstacle in the
Cuba, must be reckoned
should, yuth his usual promptness of decision, have
enormous
for the
a
Spanish
pause
purely
sort.
the price we had to pay
This fact may properly make
war.
thoughtful citizen
another, and
as
the
over
v-'-V
We repeat that there are
strong arguments, on an
to
place
some movement
assertion of the Monroe Doctrine
our
him
to
so
correctly, and still
that, recognizing that he himself
decided to eliminate himself from the
To say
Mellen's
more
path, he
scene.
this does not necessarily imply that Mr.
policies
are
to
be
abandoned
greatly
or
changed. Some features of those policies undoubtedly,
\
international and national basis, for
creditable
proposal for
voluntary experiment of the
\
diagnosed the situation
on
a
basis
will have to
be
modified; but that does not signify
the failure of the policies as a whole.
The inference,
however, which is clearly permissible, is that
a new
satisfactory to the world at large.
But that
hardly necessitates the idea of an indefinite protec¬
president will be better fitted to complete the work
torate
large
over
all these turbulent States.
Even
assum¬
which Mr. Mellen undertook for the property on so
a
For
scale.
ing that the end would justify the means in the pres¬
ent case, it is in point to ask what
guaranty our Gov¬
impaired.
ernment would have of observance of the terms of
the
have failed to
treaty by succeeding administrations
Nicaragua.
would at
tion
That!
once
with
spring
which
should be taken
that party to
as
come
ment, where would
or
dictators in
anti-American
Government had
matter of
a
into power
a
our
party
the rivals of the fac¬
up among
our
sponsible notions of
strong
a
negotiated
course.
Supposing
again, with the irre¬
Central
American
treaty stand?
\
We
Govern¬
can
imag¬
Mr. Mellen's
a
variety of
reasons
judgment has in large
The directors of the
be sensible of it.
reflecting public sentiment,
or
confidence in
measure
company
The
become
cannot
newspapers,
perhaps merely guiding
it, have long mercilessly assailed him, the criticisms
being often without warrant, but deriving great force
from the
one
indisputably fact that his acts pointed
generally to an attempt to gain absolute control over
all the transportation facilities of the whole of New
so
England.
lost in
To
cap
the climax, he had latterly also
considerable
measure
the confidence of the
.
July 26
The
shrinkage in the price of the stock, the reduction
The
security holders, the owners of the property,
great
dividend, the failure of net earnings to keep
in the
with the increasing requirements for fixed charges
growing volume
up
and for dividends on the constantly
necessarily occasioned. much disquietude,
stock
of
inevitably fell
and the blame
him who had
upon
so
completely dominated the company's affairs.
It should be a satisfaction to Mr. Mellen to know
by
that his name,
reason
of what he did and
accom¬
plished for the property, will be indissolubly linked
with the New Haven system.
With the lapse
will
dwindle
constitute
larger
many—
were
The New England States
geographical division and in
distinct
a
they
his aim was to provide that section
with a homogenious transportation
sense
of the country
question of wisdom apart, the traveling public
has been
distinct gainer from the New Haven's
a
entry into the trolley field.
been able to
never
a
transportation
the
he
enlightened
To that end
might require.
sense
spent millions upon millions not merely in the
acquisition of
and
The fact
properties but in building
new
perfecting the lines already in the system.
that in the last two years
unfortunate
of
there have been several
attended by
accidents,
up
serious loss
a
life, has tended to obscure what he has done in
that way,,
The truth is, he has at all times been
Mellen's management the trolley
In speaking of the trolley lines such acqui¬
proved.
sitions
of
the New York Westchester & Boston belong
as
in
course
class all by themselves, having large
a
possibilities for the future.
Some other features of his
also open
policy of expansion
Western, for instance, might have been left severely
act
not believe it
We do
alone.
was
in the
any
of its traffic.
Sound
regarded
of
evident
bias, to admit that during the last nine
the company
for
had expended
and
betterments
per
forced, despite its
less than $96,000,000
no
equipment,
Mellen extended the
company's hold in other direc¬
tions, buying control, for instance, of the Boston
&
Philadelphia Steamship Co. and getting
hold
Merchants'
the
in
-
made with
a
of Baltimore.
;
Of
a
different class
was
the linking of the Boston
For this
opposed the act and then
authority to the New Haven Co. to
show that
forms
natural
a
ful
gave
ahead and
go
the two
Mr. Mellen got
and
been able he began to spend
expenditures, improvement, just
acquirement of the greater part of the
latter.
the
companies should be under
enormous sums
of
he had done
as
That is the
Haven itself.
The moment
management.
full possession of the Boston & Maine
never
enorrpous
of
England steam transportation lines it was absolutely
acquisitions, here also
seems certain
We have
points and the
numerous
extension
For the full and complete development of the New
control
for the
sure
the acquired property.
oyer
dovetail into each other at
former
that
reason
are
acquire the property, with the reservation of certain
rights to the State itself
identical
justify.
good
made in the
been
accomplished which it
future will
achusetts at first
fully justified the outlay." As to
new
we
always be remembered in New England. Mass¬
essential
policy of extensive
much has been
any
expenditure had
wisely made, and much to indicate
that the result has
see
unhesitatingly
free hand there is nothing to
it has not been
the
this
"while
that
foot¬
a
Miners' Transportation
&
The Boston & Maine and the New Haven systems
The Commission went further and
to
$50,000
over
or
mile for road and equipment.
declared
the
years
The
con¬
rail transportation routes, but. Mr.
nections of the
he will
ago, was
The extra outlays
of questionable propriety.
course, form important
as
steamers,
Even the Inter-State Commerce
pointed out two weeks
an
as
acquisition of additional steamship lines; must
& Maine to the New Haven.
as we
necessary
of strategy, to protect, the New Haven in the
perfectly lavish in his expenditures for improvements.
Commission,
are
The New York Ontario &
to question.
also be
an
without
money
service in New England has been wonderfully im¬
adapted to perform all the service that public demand
in
He spent
way.
Mr.
under
that
possession of
present
to
anything imperfect in
improving the trolley roads just as he did
steam roads, and it is the universal testimony
and future needs,
brought to the highest standard of condition, and
adequate
system
For Mr. Mellen has
tolerate
stint in
insignificance, while his achieve¬
into
will loom large.
ments
the
mistakes—and
his
time
of
207
CHRONICLE
THE
1913.]
reason
for its
money
the New
upon
why the Boston
trolley properties in the New England States.
Hind¬
sight is proverbially better than foresight, but we
<& Maine has for the time being passed off the divi¬
took occasion to criticize Mr. Mellen's
increase in the
respect
New
six
over
Haven
was
public sentiment,
in any event, as
t
tied
up
of
It
is
we
argued,
those
and it
list, since the
But these
For better
as
Haven's
were
paid.
some
of these trolley lines
For this there
special instances, but,
able to borrow
on
functions.
legitimate
on
may
be foun¬
the other hand,
was
still high
advantageous terms,
usually by the issue of 3J^ and 4%
debentures.
certain that they must
for worse, Mr.
already stated.
He
and distinctive New
board of
New
or
seems
<
Mellen's
name
will
always be associated with the New Haven Company,
advantage be employed for the develop¬
money
company.
expenditures have not yet begun to bear
justify themselves.
has been
of
policy involves tremendous
new
capital obligations of the
In the end it
fruit.
which could
sums
days the company's credit
was
dend
certain to be hostile
to be a drawback inasmuch as
charged that for
dation in
was
the water lines,
it has actually proved to be, besides
enormous
the
high prices
in
and likewise
was sure
with greater
ment
As the
practical matter the purchase of these
as a
trolley lines
it
ago—in June 1907.
already in control of the steam
lines
transportation
which,
years
policy in that
force
a
forceful
it is
of
sharp individuality,
have full sway
His
men
of great
in the carrying out of his purposes
a
his purposes
appealed to
judgment.
He
men
was
men
was
and how
of large affairs and of
exceedingly
occcasions, but in this
it has been the
real
allowed him to
dominant character he
shows what
some on
a
personality and the fact that the
directors, itself composed of
and
mature
who has created
England Railroad system.
new
venture¬
country of ours
who have planned for the
unlimited faith in the
future,
Therefore, the cost at the time, measured by the
with
obligations put out, did not
development, whose acts and deeds have redounded
it appears
of
some
appear
so
onerous as
to-day, when to provide for the payment
debentures the company is
of these very
obliged to put out 6% obligations.
most to the
general good.
country's growth and
Often outlays made with
reference to the future do not
bring immediate
turns, and yet are justified in the long run.
re¬
w
THE
208
In the
large and heroic
Cassatt
of
the
satt's tenure
road
President of the Pennsylvania
as
entrance
Mr. Cas-
Pennsylvania Railroad.
yet Mr. Cassatt, by
an
with the late Alexander
much shorter than that of Mr.
was
into
Rail¬
Mellen,and
bold stroke of policy, acquired
a
the
heart
The
in which he planned
way
Mr. Mellen is to be compared
CHRONICLE
of
New
York
[Vol.
important thing
now
is to restore confidence in
the New Haven
property itself.
do full
to
will need
are
Time
be left
can
justice to Mr. Mellen;
but the property
careful handling until immediate obstacles
surmounted; and the
element needful beyond
one
all others is the re-establishment of confidence in! its
earning capacity and financial stability.
City,
xcvm
Even the
systern of tunnels under the North and East rivers.
Inter-State Commerce Commission in its
report of
two weeks ago bore
testimony to the
In
financial strength, saying that there
bought the Long Island Railroad, and provided for
a
doing this he laid down plans for the growth and
company's
nothing to
was
development of that great transportation system
on a
indicate that its solvency had been impaired.
scale
The
theless, it should not
with its broadest needs.
commensurate
conception
was
that of
a
mind of great daring, of large
imagination and yet governed by the widest knowl¬
edge.
Mr. Cassatt literally sacrificed himself for
the Pennsylvania Railroad and it may turn out that
Never¬
notice that New Haven
escape
shares the present week have been weak in face of
a
generally strong market.
The New Haven
the
Company to-day finds itself in
position the Pennsylvania RR.
was
in forty
years
Mr. Mellen has sacrificed himself for the New Haven
ago
road.
certainly greatly
Thomson, who from 1852 to the time of his death in
Pennsyl¬
1874 was the President of the
company, had been its
guiding spirit, and he had been pursuing a policy
of expansion and
extension, just as Mr. Mellen has
His
physical condition is
impaired.
The
$150,000,000 which
the
vania Railroad spent cannot
be said to be netting
much
Nevertheless,
of
for the
one,
direct
a
return.
hardly
will be prepared to deny that, having regard
anyone
future, the investment is
particularly
more
as
a
most'desirable
established the
it has
at the
been
time of the panic of
doing in New England.
St. Louis and had
metropolitan city
late
basis.
To
be sure,
enduring
an
the Pennsylvania Railroad has
jiot become involved in financial
entanglements, but
it had larger aggregate earnings to draw upon and
longer period of time has also existed for
a
recovery,
Edgar
Thomson had
necessarily assumed large obliga¬
tions in connection with such
magnificent and
Mr.
J.
acquired lines for the Pennsylvania to Chicago and
Pennsylvania Railroad's terminal facilities in the
on a
1873.
date
should
it
acquisitions.
believe
to
At this
that
have questioned the wisdom
of the lines to
stich
hard
seems
any
one
and propriety
Chicago and St. Louis which
now
form
indispensable part of the wonderful Penn-
an
vania RR.
but in
system;
those days there
were
President Cassatt having died in 1906 and the execu¬
doubts and misgivings, and J. Edgar Thomson, who
tive
will
head
of
the
Pennsylvania
Railroad
having
It is also to be remembered that Mr. Mellen has
which
in the
unfavorable conditions to contend against
were
not of his own
railway world and
in their
making, but
were
were
development—that is,
We allude to the
grew
steadily
property/th
transportation
about
a
a
agency
he had
or
no
power
and
are
The problem
could
A
was
as
a
thereby able to bring
concerned.-
so
far
as
purely
But, obviously,
due to legislative and Govern¬
reason
successor
is to
Mellen1
will be better able to do this than
himself.
One
all-controlling
Mellen
for this belief is that he will not be
step
Mr. Mellen would be
as
The policy of expansion
opposed
sure
to be.
and extension is definitely
close with his retirementr and, indeed, it
question whether he himself would have thought
brought to
a
carrying it
office,
since
any
further,
all
the
even
if he had continued in
essential
features
which
conceived
and
built
the
projector
of the
John W. Garrett
as
Baltimore
&
Ohio
and
tral—the great
in
history,
for
Thomson, whose figure looms
subjected to
was
having loaded
RR.
with
up, as
so
large
little harsh criticism
no
supposed, the Pennsylvania
properties that seemed likely to remain
permanently unprofitable.
The panic of 1873 found the Pennsylvania RR. sys- :
tern
straitened
in
circumstances
on
of the
account
obligations assumed and the need of additional capi¬
tal in the
(which
and
development of the system.
then
was
was
not
the
per
annum
dividend
of 5%
due in
meeting of the
company
such
impending ruin
a
1873
At the
in 1874 confidence in
low ebb, and predictions
were so
freely made, that, at
request of the management, supplemented by
that
of
seven
was
The company
10%
paid in scrip instead of in cash.
the. company was at
of its
of
exceptional figure in those days),
an
semi-annual
the
annual
dividends
paying
of the stockholders,
many
a
committee of
entirely disconnected from the management
appointed to undertake
an
investigation and
report on the condition of all the various properties
and their finances and
mittee
was
obligations.
While the
at work President Thomson died.
com¬
The
he
deemed necessary for an efficient transportation
sys¬
tem in the
the
as
Commodore Vanderbilt created the New York Cen¬
had to be
left for Mr. Mellen's
new man
Mr.
at every
a
raised the New
completion the work which Mr.
to
began.
of
seen,
requirements.
carry
is
men¬
to prevent steady advances in wages
increases in expenses
ment
special
high state of efficiency
decrease in the unit of service
transportation costs
worse.
advancing cost of operations.
President Mellen/we have
Haven
general
progressive in character
One of these adverse influences deserves
tion.
known
Pennsylvania RR. system, just
changed twice since then.
had many
remain
ever
development of New England growth and
committee made
most elaborate
a
submitted complete
details
as
investigation and
to the finances, obli¬
gations and value of the different properties.
The
New England industries would appear to have been
attained.
Nevertheless, there must be
result
that need
Pennsylvania RR. dividends had to be reduced from
many
carry
sure
new
points
rounding out and completing in order to
the plans to full fruition.
Additional capital is
to be
required to that end.
The judgment of a
10%
approaching the task without preconv of the
notions, will be accepted without hesitation, doubt.
where that pf Mr.
most
per annum
securities
man,
ceived
was
beneficial,
1875
to 8%, confidence in the company's
company
was. never,
thereafter, seriously in
'
•; '
might be well for the New Haven to profit by
,
..
•
..
It
superior, might be questioned under the fear that it
that
meant some
of outsiders to make
in
completely restored, and the prosperity
was
Mellen, equally good and possibly
further hazardous ventures.
and though
experience and also appoint
a
a
special committee
detailed report on al of the New
;
July 26
Haven's
same.
acquisitions and the present standing of the
Even before Mr. Mellen became President,
had
the New Haven
always
and very grudgingly given.
change the old ways.
He was
meagre
very
Mr. Mellen did not
reports
creased in size and
embody
a
information,
financial
of
considerable amount
but
are,
neverthe¬
r
The New Haven
through a period of recupera¬
tion and recovery, but in the long run it must have
a great future before it.
What is wanted in order
to insure a return of faith in its prosperous future is
less, deficient in many respects..
property will now pass
a
comprehensive and detailed analysis such as it was
P. Morgan to give whenever
the custom of the late J.
he took in hand an important
One of the
railroad reorganization.
recommendations made by the, Pennsyl¬
vania investigators
division of power
of 1874, and adopted, was the
and responsibility, so that
in
authority would no longer rest
man
and
unlimited
single person.
a
copied by the New Haven
This feature has now been
directors in
arranging to create the office
of the Board in addition to the
of Chair¬
office of President,
completely systematizing the duties of the other
It would be natural to copy the other
officials.
and make
feature of that occasion
closure of all the New
complete dis¬
a
Haven's affairs.
PAN-GERMANISM AND FINANCE *
has
time
The
7
>
,
The chief value of the book lies in the extent to
thegultimate explanation of the
which it shows that
existing situation in Europe is to be found in
trial and economic conditions.
indus¬
These have fresh in¬
of his doings unless
any
annual
The
resort to it.
uncommunicative, and never terpretation and are traced in various relations.
The possibility of maintaining large standing armies,
forced thereto.
for example, and withdrawing such vast numbers
have lately been greatly in¬
tactless,
autocratic,
disclosed
company's affairs was
the
thought that Germany would ever
whatever for the
and
secretive management,
a
regarding
information
209
CHRONICLE
THE
1913.]
not
yet come to write the
inner
of
able-bodied
from productive life that they
men
attributed to the
agricultural and industrial produc¬
tivity in recent times throughout the civilized world.
The spread of luxury and the complete change in the
style of living among all classes, with the general re¬
duction in the hours of labor, have increased both the
cost of living and the amount consumed, but this has
not equaled the increased production due to improved;
methods and the general introduction of machinery.
While, therefore, taxation is growing heavier, and
the outlay required for armies and navies even in
time of peace is enormous, it is not proving prohibi¬
tive.
Germany is setting a pace which the other
nations are measurably able to follow. • The air is
full of financial warnings because of the current indus¬
trial waste, but no.serious restraint is yet felt.
The
inevitable and widespread destruction caused by
actual warfare, where it occurs, of which we have
such woeful evidence in the Balkans, and which has
come
home so heavily to American owners in the
recent burning of Seres by the Bulgarians, is a much
more powerful deterrent.
Again and again, when a
crisis has been at hand, it is this consideration that
may
be made available for war, is
great increase in
has
given
' •
.7
pause.
is the power
Access to
of the bourses.
Various explanations have been
diplomatic and necessarily secret sources of infor¬
mation is not open even to students of history. given of the sudden "volte face" of Germany inlSepThat will come only when future biographies of the tember 1911 when the war fever following upon the
chief actors are written, like the Lives of Talleyrand Agadir incident was so hot.
Our author's account
and Cavour and the Hohenlohe Papers.
Neverthe¬ of the situation has high probability . The conditions
history of the upheaval in the
Added to this in the interest
Balkans.
less, Professor Usher, of Washington
University, has
he describes
of
peace
The Govern¬
certainly existent.
were
Curi¬
combinations, and more ously, it had to make application to London and
particularly of the policy of Germany in the chief Paris, though the contest threatened with England
written
His account of the
interesting book.
an
ment
suddenly found itself short of money.
play of the great European
events of the
be accurate
days, but it has verisimili¬
past two decades may not
substantiated in later
or
and France.
very
"
The
glad to lend
answer
came,
"Yes; we shall be
you money on proper
security, but
stimulating to thought. It only with the Kaiser's personal guaranty that it is
The same
emphasizes the great truth that to-day no nation, to be used for legitimate purposes."
however ambitious or powerful, can carry out its answer was received when application was made to
policy single-handed.
The necessity of combination, New York. At the same time private loans by
and
tude,
is
so
far
with all its restraints, no
become
has
world-politics,
While
we
maintains
which
has
in
manifest
as
well
as
foreign bankers
in all
call
transpired that
Germany was conducting,
what
Germans
the
author
in business.
recognize the aggressive spirit which
in. certain
found such
directions were called.
less than its potentialities,
quarters
in
Germany,
puts it,
current
-
business
in der Welt," which
we recently reviewed,
and of which more than one
hundred thousand copies have been sold, our author
book, "Der Deutsche Gedacht
has
There
relative
upon
upon
been
commercial
her
of taxation
recent
of her
Under,
impossible.
"nearly ninety per cent"
borrowed
and these conditions, calling out the
vigorous expression in the
It
as our
much
army was
exploiting of
and financial
rapid
money.
Germany's
strength, based
growth and her low rate
compared with that of her chief rivals.
Her national revenue per capita of population is
personal opinion. only $10, while England's is $15 and France's is $20.
It is, for example, not to be believed that Germany, Her public debt is, per capita, something over $15,
while England's stands at $80 and France carries
any more than France or England, in any emergency
the enormous burden of $150 per inhabitant, and that
would think of repudiating her debts.
The disas¬
trous folly of such a step would be recognized in with a stationary, and even decreasing, population.
China or Turkey.
The fact that such a possibility Germany's exports, as reported, are, per capita,
with regard to French and English holdings of approximately $24, her imports about $30; England's
Germany
German indebtedness in the future was discussed in exports, $40, and imports, $60 per capita.
has,
to
we are sure,
given altogether too much weight
"newspaper talk" and incidental
Germany after the impasse of 1911, is no
*
Pan-Germanism.
Roland G. Usher.
foundation
Houghton,* Mifflin & Co.
is made to appear,
anid is
like England,
clearly producing
more
a
creditor nation,
than she consumes.
310
THE
When this is
of
raw
as
food and
resources
material, not excepting the most important,
nomic
iron,
and
she is
joined to her great natural
CHRONICLE
solid basis is found for her
a
aggressive efficiency.
making the most of under
eco¬
j
considerable let-up in
a
the 1912
aggregate
whole
a
of
government the
a
in
world, and with
active in
most centralized and dominant in the
which the average German is supremely satisfied..
Our
author
insists
that
strength is superficial and
tends that while the
France
chiefly
are
of interest due
hitherto
They
loans which
Germany
The
superior
many
He
far unreal.
so
than
con¬
account in settlement
open
unrealized
loans,
an
extent
represent
borrowed
interest.
It is these
not
to recall and which constitute
open
debtor and not at all
a
of
creditor nation.
a
changes which have been going
on
difficulty Austria has found in getting
and the
money,
are
connected with this fact.
The outcome of all this is that for the
of peace other forces
vital,
least
are at
"Peace
more
preservation
which, if not
productive industry,
as
Germany is doing.
and continued
and the
army
unprofitable expenditure,
as
for the
become aggressive, then these economic forces make
themselves
felt.
controlling.
They
then
are
77 of the 141
no
less
leading cities covered reported
year
last, and in
At Wash¬
some cases
conspicuously
so.
than
ington the current year's permits entail an outlay of
only 1% million dollars, against nearly 4% millions
in 1912; at
Chicago, 7 1-3 millions compares with
10%
millions.
Other
cities
showing
important
Kansas
City, Los Angeles, Louisville, Milwaukee,
Omaha, Oakland, Richmond, Salt Lake City, San
Francisco and St. Louis.
On the other hand, many
leading centres of trade and industry report largely
augmented construction work, notably Baltimore,
Birmingham, Dallas, Cincinnati, Detroit, Minne¬
permits
issued in June 1913 at the 141
were
only $82,436,349, against $101,256,024
1912 and $95,659,494 in 1911.
Of the various
last year
and 22% millions two
of Greater New
disciplinary and
This is the great lesson of the crisis
years ago.
Exclusive
York, the Junei projects, if all carried
to
completion, will demand an„; expenditure of
$69,284,870, against $79,797,302 in 1912 and $72,804,120 in 1911.
of 1911.
There may be no evidence that the
sharp rivalry
Triple Alliance and the Triple Entente, and
secret plotting
which, doubtless, lies behind the
of the
the
rather quiet month in
was a
compilation denoting that
only a slight extent by gains in Brooklyn and Queens,
leaving the aggregate for the city as a whole but
13% millions, which compares with 21% millions
there is temptation to
or
our
boroughs of Greater New York, Manhattan and the
Bronx record large
losses, and these are offset to
navy,
strength becomes insolent,
just stated,
quarters,
plans calling for smaller disbursements this
in
heavy
and the luxurious living of the
But when passions arise or conscious
well-to-do.
matter
cities totaled
The prof¬
realized may even enable them to incur
a
building projects.
as
for which
borrowed money in highly
can use
As
apolis, New Orleans, Pittsburgh (238%) and Tacoma.
Altogether the estimated cost of the operations
be thoroughly justified in being in
may
debt when,they
so
more
immediately effective than the
MovementNations, like individuals and
corporations,
its
extant
are
building, and the drop from
large that for the country as
so
diminution in operations include
Buffalo, Hartford,
in the holding
of German securities in the
past two years,
xcvii.
fact, and notwithstanding comparative quietness
June, the elapsed portion of 1913 has been fairly
June,
importations of England and
on
are
are
show
loans, German imports to
on
entirely
money.
this
is
noticeable decrease is shown.
a
resources
These
[Vol.
The
half-year exhibit is,
clusive in its nature.
Balkan
of
As with
,
course,
more
con¬
June, the six months'
struggle in all its forms, have been superseded
by franker and permanently friendlier relations of the
great Powers, but it is certain that the Conferences
gains outnumber losses
of London and Paris of 1912 and 1913 would
not have
been held, and the
against $502,919,316 in 1912 and $455,927,946 in
disruption of the
would not be
so
peace
well below the horizon
as
to-day
of the world is
the
control
which
a
one¬
and the strength of
seen
the
money
It is
the "War Lords."
sizing at
now
fact well worth
empha¬
much severe and ill-consid¬
time when
so
centres
hold
over
a
ered
antagonism is directed against the great banks
and financiers.
They represent a power, springing
from the
of
the
people themselves,
world
depend
to-day
upon
mainly
which the
depends.
It
peace
should
ethical considerations, but unfortunate¬
ly the day when they alone will suffice is far distant.
upon
For this
1911.
„
the
JUNE AND
THE
Statistics
in the
June
York.
as
to the
construction of
States
for the
are
controlled
new
buildings
half-year ended with
largely by the result at New
Outside of this city the proposed
expenditure
for construction work is in
excess
tofore
recorded, the margin
large.
But in New York,
over
of any total here¬
1912 being quite
and in the Borough of
Manhattan particularly, where
single project, such
as
the; Woolworth Building, involves the outlay of
millions, the six months' period of 1913 has witnessed
a
apparently
York,
contrasting
tan most
as
with
a year ago
$126,293,588),
($86,891,-
with
every
largely
so.
Outside of New York the
new
high-record mark set is $394,916,220, this comparing
with
$376,225,728 last:
years
year
and $350,749,562 two
ago.
Segregating the. statistics for the individual cities
the groups in which they properly
belong, we
into
find the New
England exhibit to be less satisfactory
1912; 16 of the 22 cities from which
at hand
in the
returns
report smaller figures than then and the
total for the whole group
low that of
United
$481,807,978,
borough participating in the falling off, but Manhat¬
are
HALF-YEAR.
aggregate
milliop dollars less than for
758
than in
BUILDING OPERATIONS IN
them
among
75 compares with 66; the
poor showirig, however,
already stated, is responsible,
projected outlay in this city having been nearly
Greater New
40
as
disbursements
proposed
of Europe,
it is
but for the clearness with which the economic
ness
compilation embraces 141 cities, and
last year.
is 4% million dollars be¬
The aggregate for 31 cities
Middle Section (exclusive of New York), on
the other
hand, is 4% millions in
excess
of 1912.
In
the Middle West the 27 cities present a* total over
12% millions greater than
cinnati,
Detroit,
and Dayton
a year ago,
Cleveland,
Chicago, Cin¬
Indianapolis,
Peoria
being the principal contributors thereto,
and Louisville and Milwaukee
worthy losses.
is furnished
large
gains
showing the only note¬
A much better result than for 1912
by the aggregate for 24 Southern cities,
at Birmingham, Dallas, Fort Worth
July 26
THE
1913.]
======»
Nashville making it possible.
Galveston and
On the
general, has been
reporting operations
of greater magnitude than a year ago, with the aggre¬
gate increase a little short of 4 millions.
The ''Other
Western" group of 23 cities did not do as well this
year as last, showing a loss in the total of about 2
activity, while not
Pacific Slope,
notable,
majority of the cities
a
millions.
With
regard to projected buildings in Canada,
surprising that a period should have
it is not at all
come
comparative quietness after the extreme
of
Cities that were hardly on
have been expending phenome¬
construction work the last two or
activity of recent years.
decade
the map a
nal amounts
on
ago
fied that the provisions of
of the bonds have been
but
a
modicum for the future, are now
leisurely.
more
localities in the western
as
The effect of such legalizing order is to
questioning of the validity of the bonds thereafter
if the order should not be appealed from or should be sus¬
tained upon appeal to the Appellate Division, the decision
of the Appellate Division being final.
In the Lackawanna case it was claimed that the Act was
unconstitutional, as an attempt to delegate legislative power
to the Supreme Court, such delegation being forbidden by
Article III, Section I and Article VI, Section 10, of the con¬
stitution of the State of New York.
The Court handed down
complied with.
prevent the
obliged to
with this pause,
diminution in estimated
expenditure arranged for this year,
but in the West
drop from 14% to 9)4 millions is shown,
almost every important city sharing.
The aggregate
for the whole of the Dominion (50 cities) for the month,
(23 eities)
a
irregularities, and
the Supreme Court the purely
judicial function of determining in each instance where the
statute is invoked the question of fact, of whether there was
or not, any other irregularity than those mentioned in such
statute."
In this the rest of the Court, except Judge Merrell,
concurred, as is shown by the memorandum of Presiding
justice Kruse.
Judge Lambert alone held that the proceed¬
ings for the particular bond issue in question had been le¬
in certain
specified and defined technical
whereby there is committed to
In the West a re¬
the six months of
1912 ($56,869,124),from which there is a decline to
$44,084,913 this year, but this latest aggregate is
4 millions in excess of 1911.
For the whole 50 Cana¬
markably high record was set in
gally taken, or that, if there were any defect, it was one which
could be cured under the validating Act.
All^of the other
Judges held that there was a
combined^ we get a total of $89,288,495
for the six months this year,
year ago,
against $95,757,556 a
$71,008,902 in 1911 and some 55
millions
of
jurisdictional and could not be
purely legislative functions.
a
proceedings for this bond issue was
The defect in the
at
two
which
NEW YORK STATUTE FOR
BONDS
By PHILIP K.
LEGALIZING MUNICIPAL
VALID BUT HARD
WALCOTT. of Hawkins,
TO APPLY.
Delafield & Longfellow.
Court
handed down
a decision reversing an order of the Special
Term of the
Supreme Court, Erie County, validating the proceedings
for the issuance of $130,000 road boilds of the City of LackaA
wanna, in a proceeding taken pursuant to Article 2-A of the
General Municipal Law, which article was added to that
law by Chapter 769 of the Laws of 1911.
While the Court
decided that the particular issue of bonds involved could
not be legalized under the Act, it nevertheless held that the
The Appellate Division
for the Fourth
Act
was
that
which the appropriations
formed the basis for the bond issue were author¬
of the three elections at
stated upon the
$5,000 larger than the estimate
of the amount of such expenditure published with the
election notice as required by the Lackawanna charter.
Both 'the Presiding Justice and Judge Merrell held that
ized, the amount of
ballot,
in each
was
the expenditure, as
case
more
was
than
mere
a
irregularity or tech¬
the Court is in entire agree¬
previous decision of Justice De Angelis, at the
The* decision of
nicality.
ment with the
Special Term of the Supreme Court
in the Matter of Legal¬
izing Proceedings for a Bond Issue of School District No. 1
of the Town of German Flatts, Herkimer County.
In that
in 1910.
.
which
defect in the proceedings
cured in this proceeding,
and, therefore, they reversed the order of the Court below.
Judge Merrell stated in his memorandum that in his opinion
Article 2-A of the General Municipal Law is unconstitutional
as an attempted delegation
by the Legislature to the court
was
this variance
dian cities
memorandum by Pre¬
Kruse and also a memorandum by Justice
Merrell.
Judge Lambert in his opinion construes the Act
as a declaration by the Legislature "that all municipal bond
issues shall be valid wherein the sole objection thereto lies
siding Justice
($17,608,090 comparing with $23,457,728)
and only a mil¬
lion greater than for 1911.
The half-year exhibit
for the eastern provinces is decidedly favorable as
regards estimated outlay, which totals $45,203,583,
against $38,888,432 a year ago, and shows greatest
progress to have been in Montreal, Ottawa, St. John,
Arthur.
opinion by Justice Lambert and a
an
therefore, is much smaller than a year ago
Fort William and Port
they have
provisions of law in relation thereto had been strictly
all the
operations are still of large proportions. For June
the returns from 27 cities in the eastern portion of
Canada indicate only a slight
and confirming" the proceedings taken,
sold, with the same force and effect as though
been actually
This is especially true of
part of the Dominion, such
Calgary and Edmonton, but, even
the law authorizing the issuance
substantially complied with, to enter
including the issuance and sale of the bonds, if
and, having thus not only provided for
demand for business and dwelling purposes,
proceed
order "legalizing
an
three years,
current
211
CHRONICLE
of the New York Supreme
Department, at the July term,
constitutional.
appeared in
1619, and
an article by Maurice B. Dean, discussing this statute and
similar statutes in other States, appeared in the issue of the
"Chronicle" of Feb. 3 1912, on page 316.
The Act author¬
izes the institution of a proceeding in the Supreme Court
by petition to validate the proceedings for the issuance of
municipal bonds before their sale or to validate the pro¬
ceedings and the bonds themselves after such sale.
The pro¬
ceeding may be instituted on petition either by the officer or
officers authorized to sell the bonds, or, where the bonds
have actually been issued, by any tax-payer of the municipal
corporation or by a purchaser or holder of the bonds,
After
publication of the notice of the filing of the petition and the
date of the hearing thereof, and opportunity, for the filing
of answers of persons interested, the Supreme Court is au¬
thorized to investigate the facts, take proofs, and, if satisThe full text of the
validating Act in question
the issue of the "Chronicle" of Dec. 9 1911, on page
the
case
school district had voted a tax to
be collected in
had not fixed the instalments, and the
Court held that the defect did not involve simply an irregu¬
but
instalments,
legalized without a special Act
could not be
ture.
bonds
and that, therefore, the
larity, but was jurisdictional,
•: ;■
of the Legisla¬
' A"'/, '
'
toHeave it quite uncertain
.
The effect of these decisions is
can be cured by such a vali¬
Irregularities or technical failures to
comply with the law can be cured, while jurisdictional de¬
fects cannot be; but it is very difficult to determine in any
specific case whether the defects are jurisdictional or not.
In the Lackawanna case the whole Court
(except Judge
what defects
or
irregularities
proceeding.
dating
Merrell) concurred in the
construction placed upon the sta¬
Lambert, who stated in his opinion that
of article 2-A of the General Municipal Law con¬
by Judge
tute
Section 26
tained
a
declaration "of what character
and class of irregu¬
and overlooked in reaching the de¬
termination of substantial compliance."
This Section con¬
larities may be excused
tains the following
with
or
provision
on
this point:
determine that such statute was substantially
if it authorized the aggregate amount of bonds proposed to
The
court may
issued thereunder, that the
complied
be issued
proposition to issue such bonds was
adopted
submitted or by the required vote of
the meeting of the body or board to which it was submitted, and that such
bonds if issued and sold were sold at not less than par and at a rate of inter¬
est no greater than was authorized by the statute under which such bonds
were issued, notwithstanding any irregularity or technicality in the form of
proposition or resolution proposing or authorizihg such issue, or in the
notice of the election or of the meeting of the board or body adopting such
resolution or authorization, or in the time or manner of service thereof,
or in the conduct of the election or meeting at which such proposition or
at the election
if
any
proposition was submitted
authorized
or, if such bonds have already been issued in the manner of issuance
authorization was
more
to which it was
adopted, or in that such
than once within one year or
by law,
other shorter period than
1
212
sale thereof,
or
in the time
or
standing any other technical
times
or
formal
or
THE
of payment thereof,
or
CHRONICLE
notwith¬
Federal Reserve banks
irregularity of like nature in such
gold
A careful
reading of the statutory provision above quoted
will show that there is but
defect which is
one
more
than
than authorized
within
once
by law.
referred to, it remains
whether the
case
for
a
obliged to amend
Section
not.
or
its
oured.
On the other
notice at
all
irregularity
tion
or
held
insubstantial
hand, if only
given, it
were
would be held
be
and
day's notice,
one
doubtful
seems
could
insubstantial defect amounting to a
an
of
election,
or
proposition, resolution or notice
leading, this could hardly be considered
or
technicality. • ";v7'
were
Sec. 17.
Thus it would
pal Law will not,
which it!
as a
practical matter,
utterly mis¬
the
purpose
large majority, of
the
eases
clearly cannot be cured by
the General Municipal Law.
the
great^ifficulty
the defect
accompanied with
for
Of the six
given
case
The said Federa
Whenever any Federal Reserve bank
shall pay out
Reserve notes issued to it
sented; but any Federal Reserve bank
redeem
amount of
bond issue until it has
a
been affirmed by the Appellate Division.
To take the
legaliz¬
ing proceeding, not only through the Special Term of the
Supreme Court, but also through an appeal to the
Appellate
Division, involves so much time and expense that, as a
practical matter, in most
tory
to
have
cases
it would be
more
satisfac¬
ratifying Act passed by the Legislature,
returning to the old custom which the validating Act
thus
a
intended to put an end to.
was,
Since the passage of the
validating Act the Legislature has, in most'cases, refused to
pass special validating Acts, and some of the few
which have
shall
gold
33 1-3% of its
immediately
so
into
carry
outstanding circulation.
books gold or gold
reserve notes so
using
gold certificates sufficient
or
disburse Federal
said
as
pre¬
part of its reserve to
any
its
paid out by
reserve notes
said
reserve
account
to make its reserve
an
equal to
Notes
so paid out shall,bear
upon
their faces a distinctive letter and
serial number, which shall be
assigned by
the Federal Reserve Board to each
Federal Reserve bank.
Whenever Federal Reserve notes issued
by another Federal Reserve bank
shall be received by
any such Federal Reserve bank, they shall be returned
single judge, sitting at Special
a
term, validating proceedings for
notes
its
account on
redemption of
upon
or
hereinbefore provided, it shall segregate in its
certificates equal in amount to 33
1-3% of the
it; such reserve to be used for the
Therefore purchasers of bonds will
probably be unwilling
decision by
as
vaults and shall carry to a
special
own
held that it could not be cured.
upon a
agent "of collateral
reserve
Reserve Board shall
Judge Hooker, who heard the case at Special
Term, and Judge Lambert of the Appellate Division, held
that the defect could be
cured, while the other.four Judges
rely
tender to the local Federal
a
Treasury notes
Such application shall be
be authorized at anytime to call
upon a Federal Reserve
bank for additional
security to protect the Federal Reserve notes issued to it.
as
this case, two,
to
directors, make applica¬
it may deem best.
as
Act, and the Federal reserve agent shall each day
notify the Federal Reserve Board of issues and
withdrawals of notes to andl
by the Federal Reserve bank to which he is
accredited.
whether
Judges who passed
re¬
shall be notes and bills
accepted for re-discount under the provisions of Sec¬
tions 13, 14and 15 of this
legalizing proceeding under
Moreover, this case illustrates
any
to Federal
security to protect the notes for which
application is made equal in amount
to the sum of the notes thus
applied for.
The collateral security thus offered
a
of determining in
be cured.
can
such
making advances
as
hereinbefore provided for
where such legislative ratifi¬
were
follows:
as
be Issued at the discretion of the
,
was
cation has been sought in the
past, the defects
reserve notes to
tion to the Federal Reserve
agents for such amounts of the
intended which is, according to
Judge Lam¬
bert's opinion, to make
unnecessary the passage by the Legis¬
lature of numerous special
ratifying Acts in regard to munici¬
pal bond issues because, in a large percentage, if not in
a
hand in
hereinafter set forth, and for no other
purpose, are hereby
The said notes shall be
obligations of the United States and
shall be receivable for all
taxes, customs and other public dues.
They shall
be redeemable in gold on demand
at the Treasury
Department of the United
States in the City of
Washington, District of Columbia, or at any Federal
reserve.bank.
vy-' :
Any Federal Reserve bank may upon vote of its
irregularity
'C:7;\V:
serve
on
or
authorized.
that Article 2-A of the General Munici¬
seem
That Federal
banks
serve
a mere
■
"gold
Federal Reserve Board for the
purpose of
As to the form of the proposi¬
authorizing the bond issue, or of the notice
meeting at which the bonds were authorized,
the
vaults in
own
also
was
23, which provided that every
The tentative re-draft of Section
17 reads
this
mere
resolution
if
gold basis the conference
As
technicality.
or
a
changed the section requires that the 33lA of the out¬
standing liabilities which is to be retained
by the banks in
their own vaults must consist of
"gold or gold certificates."
be
or no
whether
agreed
lawful money," a sum equal to
not less than 33
1-3% of its outstanding demand liabilities.
or
days; doubt¬
defect would
was
Federal Reserve bank should at all times
have
Suppose,
the notice of sale of the bonds to be
published for ten days,
and the publication was made for
only nine
this
It
deciding to estab-
question in any particular
open
originally called
change it in order
on
defect is substantial
The bill
as a reserve,
% of the Treas¬
lawful money."
or
lish the note issue
instance, the statute requires the notice of election
less
by the banks.
in "gold
defects
other
in their vaults,
amount of 33 1-3
xcvii.
to prevent the accumulation of
green¬
backs and silver dollars in the reserve.
In
other shorter period
year or
As to any of the
an
to
bond
a
notes issued
must carry
gold certificates to the
for this
reserve,
clearly made
curable, namely the submission of the proposition for
or
ury
proceedings,
issue
[Vol.
by it to the Federal Reserve bank through which
they
.
were
originally issued.
No other Federal Reserve bank
shall pay out such notes under
tax of 10% upon the face value of
notes so paid out.
Notes
penalty of
a
presented for
redemption at the Treasury of the United States shall be
paid and returned
to the Federal Reserve banks
through which they were originally issued, and
Federal Reserve notes received
by the Treasury otherwise than for redemp¬
tion shall be exchanged for lawful
money and returned as hereinbefore pro¬
vided to the
reserve
bank through which
they were originally issued for the
purpose of effecting the redemption hereinbefore
prescribed.
The Federal Reserve Board shall have
power, in its discretion, to require
Federal Reserve banks to maintain on
depsoit in the Treasury of the United
States a sum in gold or gold certificates
equal to 5% of such amount of Fed¬
eral
reserve
of this
Treasury notes
as
may be issued to them under the provisions
Act; but such 5 % shall be counted and included
reserve
part of the 33 1-3 %
as
hereinbefore required.
been passed have been vetoed
by the Governor upon the
The said Board shall also have the
right to grant in whole or in
part, or
to reject entirely, the application of
any Federal Reserve bank for
Federal
ground that
Reserve Treasury notes,"
validation proceeding should be taken under
the General Municipal Law.
Whether the Legislature and
the Governor will adhere to this
position, in view of the
decision in the Lackawanna
case, remains to be seen.
A
a
■
BANKING, LEGISLATIVE
'•
FINANCIAL
NEWS.
The public sales of bank stocks this
week aggregate 35
were sold at auction and
10 shares.
at the Stock
Exchange.
No trust company stocks were sold.
shares, of which 25 shares
Shares. BANKS—New York.
♦10
Low.
Commerce, Nat. Bank of
the
Stock
175
175
175
July
1913— 171^
451
451
Apr.
1913— 475
A New York Stock
•
Exchange membership
week, the consideration being $40,000,
an
the last preceding transaction.
sold this
'
■
♦——
t
Banking and Cur¬
Committee of the House of Representatives
succeeded
reaching a decision with reference to a number
this week in
of material
changes in the
been evidence of
seemed
man
likely
Glass of
Federal
by the Federal
Reserve Board, and the amount of such
Treasury notes
assets
On
a
was
currency reform
bill, there has
lack of
harmony within their ranks, which
Thursday to result in the calling by Chair¬
meeting of the full Committee, or the sub¬
a
Democratic
amendment tentatively
agreed
caucus
upon
on
of
the
House.
the 21st inst.
by the Democrats of the
Banking and Currency
calls for the removal of
the provision which
Committee
limits the issuance
the Federal Reserve
Treasury notes to $500,000,000.
Under the amendment
proposed there would be no limit to
the amount of such
notes.
The section (No.
17) covering
the note issues has been
further revised so as to
provide tha
of
a
issued to
first and paramount lien
on
any
all the
of such bank.
the
21st
inst.
the conference reconsidered its action
changed
so as
to extend the
maturity period of
discountable from 45 to 60 days; it
agreed
was
retain the 45-day term, after a
proposal
of
*
op,
(No. 13)
paper re-
the 21st to
Representative
term
was
then finally placed at 60 days.
Section 1&
provided that, upon'the, indorsement of any member
bank, any Federal Reserve bank might discount notes and
also
bills
of exchange arising out of commercial
transactions,
that is, notes and bills of
exchange issued or drawn for agri¬
cultural, industrial
to the clause
was
or
commercial purposes; an amendment
adopted
on
Monday
..Notes and bills of exchange issued
or
a
to
delivery, become
so
of last week when the re-discount section of the bill
or
Section
amended
;
15,
that is
now
reads:
•
covering
market operations, was also
in several particulars on the same date.
As it
stood, it provided that
rules
and
open
any
Federal
regulations prescribed
Board," purchase and sell in the
or
so
drawn for agricultural, industrial,
commercial purposes or the proceeds of which have
been used for such
purposes.
on
mission of the bill
An
plication may be granted, the Federal Reserve Board shall,
through its local
the
was
advance of $3,000
While the Democratic members of
the
rency
that such ap¬
Wingo to extend the term to six months had been defeated.
But the matter was once more reconsidered on the
23d, and
Exchange.
''
N
over
Last previous sale.
451
25 Germania Bank
♦Sold at
High. Close.
amount
Reserve agent, deposit Treasury notes with the banks so
applying
and such bank shall be charged with the amount of such
notes and shall pay
such rate of interest on said amount as
may be established
such bank shall, upon
AND
But to the extent and in the
to domestic
or
foreign banks
cable transfers and bills of
ties made
or
reserve
by
the
open
bank "may, under
Federal
Reserve
market, either from
individuals, bankers' bills,
exchange of the kinds and maturi¬
eligible for re-discount under the Act.
Instead of
leaving the question of purchasing and selling
solely to the discretion of the Federal
reserve
banks
as
above,
>
at
by order of the President, become an
sentence to the effect that they ' shall,
direction of the said board," purchase and sell, &c.
there has been
the
added
a
he Is
fare thus
allow thh
Federal reserve
in our country. Also I feel sure that it would be
retiring Presidents should thus be enabled to do a
their country after going out of the Presidency.
This Board is endowed by my amendments to fully execute the pro¬
visions in regard to the issuance and control of the currency by added
language that gives them somewhat latitudinous but necessary powers.
The board and their kindred are properly circumscribed in regard to their
ownership and control of banks, stocks, corporations and business insti¬
tutions, and I think necessarily and properly so.
This, to me, is a most
essential and vital thing to do.
By this method we prevent the relatives
of the board from getting into the banks, corporations and business insti¬
tutions, and through such means water their assets and utilize their posi¬
tions by reason of kinship to make such relationship valuable.
It should
be made a crime if such things occur.
Section 17 has been rewritten so as to provide substantially for the issue
of United States notes not to exceed $700,000,000.
That such notes shall
prices and affects wages
great service for
banks "to invest in United States
district or
section which gives the
banks power "to establish each week, or as much oftener as
required, subject to review and determination of the Federal
Reserve Board, a minimum rate of discount to be charged
by such bank for each dags of paper, which shall be made
municipality."
issued by any State, county,
with
a
view to
The clause in this
accommodating the
commerce
of the country
promoting a stable/price level," has been modified
extent of eliminating Ithe words "and promoting a
and
to the
stable
purport on their face to
deemable in gold.
shall be divided Into three
Class A shall consist of $300,000,000 to be
denominated "commercial currency of the United States of America."
Class B shall consist of $200,000,000 to be denominated "industrial currency
of the United States of America," issued to the State of
, or to
Territory
or printing or engraving the name of State or Territory.
Class C shall consist of $200,000,00 to be denominated "agricultural cur¬
rency of the United States of America."
Then I proceed to fix the terms
upon which this currency shall be issued so as to go to the commercia
interests, the industrial interests and the agricultural interests,in propor¬
In the bill we find the
adopted:
require Federal reserve banks to
priime paper of other Federal reserve banks,
all members of the Board being present when such action is taken and
consenting to the requirement.
The exercise of this compulsory re-discount
power by the Federal Reserve Board shall be subject to an interest charge
to the accommodated bank of not less than one nor greater than three per
centum above the higher of the rates prevailing in the districts immediately
affected."
_
to 5 a proposition
presented by Representative Wingo providing that the Presi¬
dent should summarily dismiss any member of the proposed
Federal
Reserve Board
or
any
director of the proposed
banks who should directly, or indirectly
engage in stock speculation.
,
What is practically a substitute for the administration
bill embodying the ideas, it is understood, of certain of the
insurgents, including Representatives Henry and Ragsdale,
was presented by the latter in the House of Representatives
on
Thursday,, the 24th. ■ Under this proposal, which is
offered in the nature of amendments to the Glass Bill, pro¬
regional
reserve
warehouse
and wheat. A statement in ex¬
planation of the features of this newly offered legislation
made by Representative Henry is published by the "Journal
made for the issuance of currency on
vision is
\
'commercial*
interests.
Then why not provide for agricultural and industrial, as well
as the commercial, interests in issuing currency ?
It will be noted that the
agricultural currency is to inure to the benefit of the agricultural interests
through the reserve banks, and to be loaned to them on storage certificates
of warehouses, storage plants, &c., as will appear in detail in the amend¬
ment, on cotton, corn and wheat, the three great products of the farm.
Industrial currency is to go to the. States and Territories, on terms fixed
in detail in the amendment, upon the deposit of State, county and muni¬
cipal bonds, etc., as will appear in the amendment
Qn pages 26, 27, 28.
29, 30, 31, 32, 33 and 34, as 1 have rewritten and filledlt out, will be found
fixed above.
tion to the amounts
the discounted
■= •"*
The conference defeated by a vote of 6
B and C.
classes, to wit, A,
permit o;\ in time of emergency,
"To
re-discount
provides that this currency
The amendment
warehouse receipts re-discountable in
the Federal Reserve Bank but his proposition was rejected
by a vote of 9 to 4.
Action on the matter of incorporating in
the bill a provision prohibiting the interlocking of directorates
in the banks of the proposed system was forced by the "in¬
surgents" on the 23d, and by a vote of 7 to 5 Chairman Glass
was instructed to prepare such an amendment as a separate
paragraph of the bill. The deliberations on Wednesday re¬
sulted in the elimination of Paragraph B of Section 12, which
required the Federal Reserve Board "to require or, on appli¬
cation to permit, a Federal reserve bank to re-discount the
paper of any other Federal reserve bank"; in its place the
posal making cotton
following paragraph was
Government,
solely for the pur¬
of making advances to the reserve banks, and that they shall be receiv¬
able for all public dues and all debts in the United States and shall be re¬
pose
Representative Ragsdale offered a pro¬
On the 22d inst.
be the obligation of the United States
of the Federal Reserve Board and
issued at the discretion
V
price level."
should be represented on the Board and have their wel¬
guarded In the issuance and control of the currency, which fixes
right to provide that
obligations of the United States or its dependencies or of any
State or foreign Government."
This is changed so as to
bonds and bonds
absolutely just that the agricultural and Industrial Inter¬
ests of the country
to which
advisory member of said Board until
assigned to a vacancy.
It seems to me
this section has been subjected
concerns
the provision permitting the Federal reserve
banks "to invest in United States bonds and in short-term
A further change
213
CHRONICLE
THE
1913.]
July 26
terms4 'industrial,'" 'agricultural" and'
utilized by the three
*
*
*
provided for changing the names of the.notes from the Federal
reserve notes to United States notes.
There is no reason on earth why
there should be an additional class of currency when we can designate the
new notes the same as the old United States notes issued by the Govern¬
ment and rhake them redeemable in gold and legal tender for all debts,
the method by which
classes
the currency is to be issued and
mentioned frequently in the Glass-Owen bill.
I have
public and private, in the United States,
I have also provided in section 13 for
with those of section 17, as
making these provisions square
rewritten, and also provision is made
in section
lands and farm mortgages and bonds
secured by farm mortgages upon farm lands..
•
While dissenting fundamentally from the principle upon which the GlassOwen bill is based, if it must go through on these lines and within that scope,
I earnestly insist that it be amended in the fashion outlined above.
For
twenty years I have been studying along these lines and have deep convic¬
tions touching the question.
In my opinion I am proposing no sub-treasury
plan, as advocated by the former Fopulist Party, butam simply broadenng what appears to me a creditors' bill so as to take careof the agricultural
and industrial necessities of the country upon the exact terms by and
through which we authorize the commercial world, the bankers and business
men, to secure currency from the Government of the United States.
24, as rewritten
receipts for cotton, corn
,
for loans on both farm
that
with President
Wilson, has decided to meet the Administration's views
of Commerce" as follows:
with regard to currency legislation.
The President, after
I have prepared some amendments for filling out and bettering the Glass
submitting the opinion that the attempt to project the new
bill.
After sincere and most exhaustive study I am brought to the delib¬
erate conclusion that the bill as now written is wholly in the interests of the
proposals springs from those opposed to currency reform, is
creditor classes, the
banking fraternity and the
commercial world, without
provision for the debtor classes and those who toil and produce and
For the sake of argument at the present, assuming
the country, must provide an asset currency to take care of the com¬
proper
sustain the country.
that
mercial paper wares
of stress and
panic,
of the banks and to make a market for them in times
they insist, my earnest conviction is that we can at*
the*same plan take care of
underlying its provisions,
sections,
so
and that will round out and perfect and vitalize
commercial and banking world
the agricultural and industrial interests as well
that not only the
will be accommodated, but
shall share in the same
sections 11, 17 and 24, have
plan.
7 to
itself to all of
us.
In it there is provision for giving representation on the Board to a
bona fide representative of industrial labor, to be selected by the President
Section
11 has been so re-drafted as to
members, and, in my
increase the board from
opinion, this feature should commend
presented for that purpose by the joint official board
American Federation of Labor, and also for a bona fide representative
from a list of ten men
of the
agriculture selected by
the President from a list of ten men
presented
all farmers' organi¬
zations having a membership of 10,000 each, including at present the Na¬
tional Grange and the Farmers' Educational and Co-operative Union.
It
also provides that the retiring Presidents shall become members of the
Federal Reserve Board, under certain terms to take the first vacancy that
may occur, excluding, respectively, the places held by the three members
representing labor, agriculture and banking, and the salary of such exPresident shall begin to run from the date of his commission, and he may,
for that purpose
night intimated
are
that if the recommenda¬
material, they should be offered as separate
legislation for action at the "regular
session of Congress in
December.
by the joint official boards of any and
In
a
review of the
pending currency bill,
prepared and
pamphlet form by James B. Forgan, President of
the First National Bank of Chicago, Mr. Forgan goes into
issued in
a
detaijed analysis of the bill, pointing out the objectionable
proposed legislation and also the good points
features of the
Forgan that
banks are now
established, Congress will be called upon by the business in¬
terests of the country to pass an Act consolidating them into
one."
"I believe, says Mr. Forgan, "time and experience
will prove the truth of the adage 'in unity there is strength.' "
9 Discussing the provision dealing with the personnel of the
amended in ma¬
sections 13 and 16, and have entirely stricken out the sec¬
tion relating to the refunding of the 2% bonds.
I believe the proposition
to thus fund the 2% bonds with those bearing 3% will split the Democratic
Party in caucus.
To me it is nothing less than a gratuity, and the people.
In various letters received by me, are taking that view and use such terms
of
tions he made
it.
in
benefits on the same terms.
have entirely rewritten
terial respects
in criticizing the
last
the legitimate interests
people, which names are
whose interests are not guarded and
provided for in its multitudinous sections.
Therefore, I have prepared
some amendments that wijll improve the bill, if we must take the principles
I
Washington
said to have informed Mr. Henry
"industrial" and "agricultural" part of our
frequently mentioned in the bill but
its various
from
as
the same time and on
of the
Reports
Representative Henry, following a conference
The
prediction
"within ten years,
Federal Reserve Board,
of
a
the
is ventured
by Mr.
if twelve Federal reserve
which provides for the appointment
Governor who is to be the
active managing officer under
supervision of the Secretary of the Treasury, Mr. Forgan
makes
the
following comments:
services of a banker
of Governor.
The salary and conditions connected with the office are not, it seems to
me, such as to attract such a man unless he were willing to sacrifice a great
deal for the honor of holding it.
There seems no good business reason why
the Governor, who is to be the active mapaging officer, should not have
The President
migbt find it difficult to secure the
of adequate ability
and banking experience to fill the position
higher compensation than the
nor
why the salary of the
Vice-Governor and the other two directors,
Vice-Governor should not be more than that of
214
THE
the other two directors.
CHRONICLE
The ordinary business method should be followed
of grading the official salaries somewhat in conformity with the
experience
and recognized ability of the incumbents of the different official positions
well
as
as
with the responsibilities
placed upon them and with the duties
they are required to perform.
Hut the most serious objection to the organization of the Board lies In
the method of selecting its members.
dominated and controlled by
That
a
board
so
appointed would be
political expediency is obvious.
The three
ex-officio members of it would owe their positions to their political affilia¬
tions if not to their political activities.
The other four positions on the
Board would be included among the party plums and distributed for party
service as part of the spoils of the victorious
party, just as similar Govern¬
ment
positions
now
are.
.
It has been claimed that the Federal Reserve Board would be organized
somewhat
along the lines of the Supreme Court pf the United States and
that it would be kept as free from political influence.
I fail to see any
analogy between the organization.of the two bodies,
I admit that
nor can
they would be equally free from political influence.
The Justices of the Supreme Court are appointed for life.
of the
Federal Reserve Board is removable at
and the members
are
appointed for eight
years
The Governor
time by the President,
any
at most, with nothing to
prevent their removal at any time should the President request it.
The
Justices of the Supreme Court are selected with due regard to their profes¬
sional eminence.
The members of the Federal Reserve Board, with one
exception, need not have either previous experience in or knowledge of the
banking business, the destinies of which are to be placed in their hands.
Thd duties and functions of the Supreme Court are deliberative in
deciding controversies brought before it.
Board
are
The duties of the Federal Reserve
administrative, with full power of initiative.
Debate
[Vol.
the tariff revision bill in the Senate
on
the 19th inst. and
on
that
body
its
consideration
by
Following the presentation of the
the 18th, Senator Root offered an amend¬
the 23rd.
on
majority report
on
ment to the income-tax
provisions of the bill which would
make the tax applicable to incomes accruing after the bill
is enacted into law.
Originally, the bill fixed Jan. 1 1913 as
the date upon which the tax was to be computed for the first
year,
but the date
changed to March 11913 by the Demo¬
was
cratic members of the Senate Finance
the earlier date might
Committee, because
have made the section unconstitutional,
since the Income Tax Amendment to the Constitution
not
in
proclaimed
as
ratified until Feb. 25 1913.
submitting his amendment, accompanied it by a statement
expressed it as his belief that the courts would
hold that incomes received before the law
goes into effect
could not be taxed.
Senator Gallinger enlivened the
pro¬
ceedings
on
for the bill
the 18th inst. when he introduced
amendment
an
clause postponing further
a
sideration of the tariff until the first
The Supreme Court
and
the heads of
or as
other
any
precedents dating back to times immemorial.
Board will have few, if any,
will be binding.
The Federal
precedents for its guidance, and
Reserve
none
that"
By the very nature of its existence, the Supreme Court is placed above
political exigencies and influences.
In authority, it is superior
and beyond
to the
Government, both legislative and administrative:
eral Reserve
Board, which wiU be nothing
more nor
of the administrative branch of the
Government,
tion and control of the banking destinies of
districts.
Not
less than
a
the country, divided into twelve
;""
In the event of a'district
desiring some special consideration at the hands
of the Federal Reserve
Board—such, for instance, as requiring another dis¬
trict to re-discount for it—what more
likely than that existing methods
with
other
Governmental
departments should be followed
good offices of the Senators and
ticular district should be enlisted to
members of the board to
Banking and politics
that
see
and to
the
par¬
their influence with the
use
from them the desired consideration ?
secure
are
and
Representatives in Congress of that
like oil and water—they do not
mix.
former is to be kept sound and good it must be
kept separate from the latter.
The principles
underlying sound banking are diametrically opposed to
those which, rightly or wrongly, seem to control
politics.
In their fiduciary
capacity, bankers, if they want to succeed and be failthful
must
even
the
constantly be
as
on
to
their
trust,
their guard against the influence of such virtues
friendship and human sympathy, and they must officially eschew
influence of reciprocal personal favors.
Such influences
insidious
to be of the essence of
politics, and to control political activities.
It seems right and reasonable that if there are to be not less
than twelve
seem
Federal Reserve Banks, there should be
vise
a
Federal Reserve Board to
super-.
and, within reasonable limitations, to regulate them.
ment
the bill
on
the 19th
on
The Govern¬
should be properly represented on the
board, as also should be the
commercial, industrial and agricultural interests of the country.
And the
contributing lianks through the Federal Reserve Banks, which they own
and which the Federal Reserve Board is to
regulate and direct,, also should
be properly represented on it.
"
opened by Senator
was
Simmons, Chairman of the Finance Committee, who, on
Democrats, defended the legislation it embodies,
behalf of the
while Senator Cummins, Progressive Republican, reviewed
the bill disapprovingly.
The President
criticised by Senator Cummins for his
was
influence exerted upon members concerning the tariff bill,
influence, he said, "so persistent and determined that it
an
became coercive,"
I
the
adding:
do not charge, nor do
this power for
I believe, that the President in
legislative subordination; but I do
knowledge of the
say
consequences that may follow
barters
terms
that, without barter,
legislative independence
will bring about all the evils of actual wrongdoing, unless the most
lous
care
scrupu¬
is exercised in communications between the President and members
of Congress.
It lies with the President himself to mark
propriety, and to pursue such
If the
..-A;-;
.
The debate
the Fed¬
so
department
charged with the direc¬
referendum of
a
--
The Supreme Court is guided by traditions
con¬
Monday in December
1914, the bill meanwhile being submitted to
the officers of any business corporation
substitute
as a
proposing to strike out the entire
bill, and inserting instead
the voters.
Governmental department.
was
Senator Root,
in which he
is approachable only in public—in
open court—by counsel duly retained.
as
begun
was
undertaken
was
The members of the Federal Reserve Board will be
individually as accessible
'
xcvii.
legislative branch of
our
the
out
path of
will enable every member of the
a course as
public affairs to feel free and unrestrained in every
vote that he casts.
So long as the President is permitted to set up a standard of
loyjalty to
the party to which he may
accept it, and so long
as
belong and condemn
every man
who does not
members of Congress vote under the apprehension
that they may suffer from the Presidential power controlled
ment instead of their own,
so
by his judg¬
long Congress will Incur, and will deserve,
the contempt of all true lovers of free and representative government.
The assertions
weeks ago of
some
Representative Underwood that
made
by the Government of
agers
on
Thursday
as
Secretary Redfield and
investigation would be
manufacturer closing down
any
his factories because of the tariff
Weeks
an
denounced by Senator
were
"an attempt to intimidate the
of American industries."
man¬
Referring to the "Taylor
v
Surely the national banks without such representation could not be exrpected, much less compelled, to supply $105,000,000 capital and
$410,000,000 deposits to the Federal Reserve banks.
By such compulsion the right
of property would have to be
entirely ignored and a practical confiscation
of the possession and control of their
own
of their paid-in capital would take
place.
property to the extent of 40%
The directors of banks in their
shop management system" which
report of
a
1911,
a
which
upon
Senator Weeks is
That report,
March 9 1912, stated that
"a system which
yond their
own
a
control.
way
out
Could they do so and would
they do so if they
of it?
other.
served,
saying:
as
submitted to the House by these new Cabinet members
fiduciary capacity
could find
the subject of.
Secretaries Redfield and Wilson
quoted
to their
are directly responsible to their
shareholders, as well as
depositors, for the funds they would thus be compelled to
place be¬
made
was
committee of the House of Representatives in
"conditions
would be effective in
vary
one
so
effective in
Yet the Secretary of Commerce attempts to bulldoze the American
year ago
*——
he declared could not be made uniform.
If it is impossible for
Government,shop to determine what is efficient management, how
Tlie assertion of David Lamar that he
the "Steel Trust" resolution
was
the author of
q,nd that it had been given by
Government determine whether a
private
Henry B. Martin, Secretary of the American AntiTrust League, who in turn had
passed it over to Represen¬
Stanley for its introduction in Congress, caused the
a question of
personal privilege in the House
latter to rise to
the 12th inst., when he read into the record
Lamar
a
denial of the
charges. \ Representative Stanley went into details
can
a
a
the
concern can conduct itself with
profitable results?"
.
■
.
—
him to
on
an¬
manufacturers by putting into operation a condition which a little over
■
tative
on
in different shops,", and that
might not be
»
,
-
,
The recent Bulletin of the Investment
of America directs attention to
tee amendment to
tariff
which
bill
This amendment
Bankers'Association
important Senate Commit¬
an
the Income Tax provisions of the pending
seems
to have escaped public attention.
practically nullifies the agreement in
cor¬
with regard to the three resolutions which he had
introduced
in the matter, and when the
specific question was put to him
poration bonds by which the corporation has undertaken
by Representative Garner
that it may
as
to whether
Mr. Martin told
to
pay
the interest in full without deduction of
be required
State law.
or
permitted to
or
Stanley) the resolution supposed to have been prepared by
Lamar, Mr. Stanley said:
Association, state that the
After I had gone before the
Judiciary Committee, Mr. Martin
office.
He told me he was Secretary of the Anti-Trust
league,
came to
League.
gave me the names of
among them
quite
a
number of
men
who
were
Judge Flamming of Kentucky,
Railroad Commission and
a man
and I ascertained that that
of prominence.
the truth.
was
an
He
members of that
ex-member of the
I knew Judge Flemming
He told
me
that he had been
the Democratic nominee for
Congress in New York City, which was true.
me to Gov.
Sulzer, who was then a member of the House.
He
spoke of quite a number of members of
Congress who were members of his
league, and among them I recall Judge Rucker of
Colorado.
In talking
with the latter in the cloak
room he told meuthat he was a
member of this
Anti-Trust League, and that the
organisation was engaged in a most
laudable work.
Martin offered me quite an amount of
information.
He
brought in a bale of it.
He may have brought me in a dozen
resolutions.
All I know is that he
brought me no resolution that I
He referred
introduced.
-
■
♦
under
any
any
tax
Federal
Caldwell, Masslich & Reed, counsel to the
the truth when he said he had handed him
(Representative
my
pay
amendment transfers $3,-
new
000,000 to $5,000,000 of income tax from the corporation
to the investor, apparently evidencing an intent on the
part
of the Senate Committee to
impose the tax
on
the actual
receiver of the income, regardless of any agreement that has
been made.
at
the
now
source
While allowing the general plan of deduction
to stand in all other cases, the amendment
favorably reported to the Senate provides
as
follows:
Where, under the terms of a contract entered into before this Act takes
effect, the payment to which the taxable
made without any
deduction by
reason
person
is entitled is required to be
of any tax imposed,
the obligor
shall not be compelled to make such deduction or withhold the income tax,
but shall give
notice to the collector of the payment made,
part of the return
in that case,
or to
be made, as
which he is required to make, and the said
for the purposes of this Act, be computed
of the taxable person.
as a
sum
shall
part of the income
If the obligor fails to give such notice, he shall be
personally liable for the incbme tax if the
same
is not paid by the taxable
July 26
entered into after this Act takes
No such contract
person.
effect shall be
made.
announced its
the reason, as it
then stated, that it was not in a position to
wages
which it wai expected would
Bankers' Association has
opposition to this new proposal. , It takes the
as an Association, it
should seek to protect
regardless
contends
of the personal interests of its
that there ought not to be any
position that,
the investor,
members.
It
repudiation of
specially devised provision of the Federal
tax bill.
This bill as it now stands imposes the tax absolutely
on all bondholders
and declares invalid any future agreement
by the corporation to pay the tax.
The Investment Bankers'Association urged before the
Senate Committee several important amendments, and the
following amendment was adopted in the exact language
proposed on behalf of the Investment Bankers' Association:
the agreement
by
a
secured by collateral
the
corporation, joint-stock
company or association, the total interest secured and paid by such company,
corporation or association within the year on any such indebtedness maybe,
of indebtedness wholly
subject of sale in the ordinary business of such
Provided, that, in
its expense of doing
business.
incorporated investment banking
the effect of the provision prohibiting deduction
This amendment relieves
houses from
interest on debt in excess of the capital stock.
described in the amendment is frequently ten times
of corporate
The debt
the amount of
meet
be
brought about as a result of the arbitration
A definite
as
with respect to a change affecting the
postal savings system has been made during the past week.
Under a new order of Postmaster-General Burleson, the de¬
by mail will hereafter be
posit and withdrawal of savings
When the postal savings system was first put
in operation, postmasters were forbidden to accept deposits
from such persons as were not patrons of the post office in
permitted.
insisted
of Managers was
upon
final assurances of the
attitude ©f that road name through a
telegram on Tuesday from its President, F. D. Underwood,
who is in Wisconsin, to J. C. Stuart, Vice-President and Gen¬
In his wire to Mr. Stuart, Mr.
Railroad will accept any award
the Newlands Act.
In eas© am advance in
of the road.
eral Manager
Underwood stated: "The Erie
made
under
wages
is granted, the Erie purposes to
until July 1
Railway Conductors, after
mented
it
on
as
please all of us. As to the sesond past, that
of the award being an increase
that will be between the Erie a»d its men.
G.
This was found to work a hard¬
sought to bank.
Lee, President ©f the
Mr. Lee
reported
was
The Erie is but a pawn
saying:
as
In the hands ef three banks.
York.
the Brie should withdraw
investigating committee, have been
marked this week by the retraction by Mulhall on Tuesday
of the charges made by him on the witness stand against
James E. Watson, a former Representative.
On the pre¬
at that time
a
really in .earnest about a
in order to precipitate,
ascertain whether they;
strike.
further said to have declared
was
Underwood
Mr.
The plan was to
try out the unions.
test case and
were
Mr. Lee
was
that in 1910,
similar to that r©««ntly adopted,
Perkins,
brought to terms by G. W.
Denials of
these allegations have been made by those concerned,
J. P. Morgan having declared, according to the "Tribune,"
that the statement concerning the influen«e of his firm to be
"utter nonsense"; President Hine of the First National Bank
has also declared the statement, insofar as it refers to his in¬
stitution, to be "absolutely without basis and fact"; a repre¬
sentative of the National City Bank, in dismissing the al¬
leged charges, stated that the bank was not and had not been
of the Senate "lobby"
employed by
member of the
In withdraw¬
Tuesday, Mulhall testified that what he
Mulhall swore that Watson had been
private interests in 1909, while he was still a
House, to work for a tariff commission bill.
that Watson was not
It is stated that before
the retraction was made reports were current that Mr. Wat¬
son was-about to ask a District of Columbia Grand Jury to
indict Mulhall for criminal libel.
Denials from various per¬
sons whose names have been brought in during the inves¬
was wrong;
time.
member of the House at the
These banks are
the First National Bank and National City, all of New
These banks effected an express understanding with the board of
J. P. Morgan A; Co.,
when the Erie took a step
a
Brotherhood ©f Railroad
queted as stating at M©nday night's
conference with the mediat©rs that J. P. Morgan & Co.,
the First National Bank and the National City Bank were
instrumental in inducing the Erie to withdraw from the wage
conference.
According to the "Journal ©f Commerce,"
Trainmen, had been
proceedings bearing on the inquiry into the charges
of Martin M. Mulhall, which continue to claim the attention
ing this charge on
had sworn to on Monday
is bound
»f defecting the effective
hi wages, that.is a matter
The first sentence in the telegram
This is certainly good mws.
a
vious day
learning of the message, com¬
follows:
to
The
>
ask the men to defer
1915." This information
was immediately eonveyed to Judge Chambers, Commissioner
of the Board.
A. B. Garretson, President ©f the Order of
date
effective
the
railroad managers that
on
by the trainmen at the outset
with the Conciliation Beard this week, and
of the conferences
certain class of would-be depositors, and Post¬
master-General Burleson has accordingly abrogated the rule.
ship
proceedings.
to whether the Erie would enter
agreement to abide by the action ©f the Conference
into any
W.
which they
understanding
date in the event
capital. '
An announcement
increase in
an
case
deducted as a part of
award
The Erie had withdrawn from tho
Conference Committee of Managers early thi» month, for
which might be
payment.
The Investment
Tuesday that the Erie RR. had agreed to aetept any
Federal income tax imposed upon a person liable
valid with regard to any
to such
215
CHRONICLE
THE
1913.]
representing the Morgan interests.
has himself
Mr. Lee
attributed to him in
in its financial dealings.
connected with the Erie
repudiated the statement
for Congress,
'
\
fSeorge W. Perkins in
the Erie Company
and that Mr. Perkins ordered Mr. Underwood to do eertain things.
No
such statement was ever made by me to any person not have I met Mr.
Perkins on any question.
The mediators now in the city and more than
100 committeemen heard my reference to the Erie situation, and know that
I did not mention or refer to J. P. Morgan & Co. or Mr. Underwood.
Mr. McClave is also
Hepburn has accepted appointment as a mem¬
ber of the commission whieh is to revise the banking laws of
tigation by Mulhall have also been a feature of
On the 18th inst. S. Wood McClave, Republican
the following:
I have been
the week.
candidate
denied that Mulhall had raised or spent money
in his behalf during his campaign against William Hughes
for nomination for the Sixth New Jersey District in 1910.
quoted
as
effort in
1907
cause
1908 to bribe Samuel Gompers to
or
desert
was
Board
of
Mediation
last week under the Newland's
and
Conciliation, appointed
amendment to the Erdman
Anti-Trust Act, on Monday last
undertook the task of ad¬
justing the differences between the Eastern railroads and their
trainmen and conductors.
As noted last week, William L.
Act, and in ad¬
Judge Martin A.
Chambers is the" Commissioner under the new
dition to his assistant, G. W. W. Hanger,
of the board. Louis F. Post,
named as a member,
but it appears that he is ineligible, since the law creating the
board provides that the other two members of the board shall
be officials of the Government who were appointed to their
Knapp is the third member
Assistant Secretary of Labor, was also
original offices with the confirmation of the Senate.
Assistant Secretary of Labor, it is stated, does not fall
that
"of
requirement.
the
arbitration
Board of the Chase National Bank
.
plape
on
the commission of John
Claflin, who decided that
of other business would not permit him to serve.
other members of the commission were named in our
the pressure
The
issue of June 28.
.
.
,
'■
.
♦
..
•
Philadelphia Coal
resolution was passed
declaring that the price of anthracite coal will have to be
raised because of the tax imposed under the n©w Pennsylvania
law, referred to in these columns July 12.
An officer of the
Exchange is quoted as stating that it is not the intention of
the organization to force its members to increase the price.
According to the Philadelphia "Inquirer," the officer in
At
a
meeting
on
the 22d inst. of the
Exchange,' composed of retail dealers, a
to be done.
,
The
who is Chairman of the
of this eity, takes the
Mr. Hepburn,
New York State.
of labor and support the
told him of what
•
alleged
policies advocated by
the National Association of Manufacturers, Mulhall ad¬
mitted he had no positive information that an attempt to
bribe Gompers had actually been made, but said Atherton
Brownell of New York had outlined the plans to him and had
the
between the employes and
A. Barton
declaring that Mulhall per¬
jured himself in his testimony before the committee.
In referring on the 18th inst. to his story of the
'
■
quoted as saying that in 1910 I met
reference to a wage controversy
The
under
One of the most important developments
proceedings was the announcement I on
question
says:
the public is protected in
the public and the fact that
a resolution was passed does not signify that the Exchange sanctions an
increase.
It is up to the dealer.
If he does not want to increase the price
he does not have to do so, but many of the dealers will after Aug. 1.
The
coal companies do as they please. If the retailer does not pay the tax levied,
We do not make the
the matter of weight.
then he will get no
prices, but try to see that
Our records are open to
coal.
It is intimated that an
trict Attorney
.<
investigation will be made by Dis¬
Samuel P* Rotan of
develop that concerted action is
to
raise coal prices.
——♦
Philadelphia if it should
taken by the retail dealers
•
"
•
•
.
[Vol.
xcyii
♦
W. W. Collier of San Antonio has been
Colquitt of Texas
the 10th inst. to
Seaboard National Bank of
Vice-President of the
a
New York.
appointed by Gov.
Commissioner of Insurance and Bank¬
as
ing, to succeed B. L. Gill, who resigned
become
CHRONICLE
THE
316
on
Mr. Collier assumed charge
of the Department
age), he
elected in 1897 Cashier of the First National of
was
Nashville.
in 1903.
His election
President of the bank occurred
as
He continues to be identified with the consolidated
Fourth and First National Bank
has served
respectively
as
as
director.
a
Mr. Watts
Chairman of the Executive Council,
appointment he was
First Vice-President and President of the American Bankers'
Vice-President of the State Bank & Trust Co. of San Antonio.
Association, officiating in the last-named capacity during
1910-191 li
He also formerly held the presidency of the
the 19th inst.
on
At the time of his
Tennessee Bankers' Association.
The United States Mortgage & Trust
;
obtained
the
attitude
country's
of
consensus
the
the
with reference to
opinion
towards
Co. of this city has
legislation
currency
now
pending, from its banking correspondents, attorneys and
business representatives in forty-two cities located in twenty
States in which its mortgage investments are made.
While
the territory covered does not include New England
and the
Eastern
north
States
of
Virginia,
of
in
a
for a
comprehensive
Analyzing
survey.
general way the expressions of opinion received, twenty-
two cities
recorded
are
favoring the main features of the
as
INTEREST-BEARING
proposed legislation; ten are opposed, and there are ten cities
in which public sentiment is somewhat divided.
Objections
Interest
Title of Loan—
the bill
1.
summarized
are
General fear of
political control
4.<
as a
June 30.
May SI.
1900, interest ceased Aug. 18 1900._
Funded loan of 1891, matured Sept. 2 1918
funds through the
reserve
reserve system.
Anticipated curtailment of credits with its consequent effect
case
1904, matured Feb. 2 1904...
Funded loan of 1907, matured July 2 1907...
Refunding certificates, matured July 1 1907
Old debt matured at various dates prior to Jan. 11861
upon
and
of individual banks.
$5,000
23,650
13,250
701,700
......
other items of debt matured at
$5,000
23,650
13,250
700,400
13,570
00
00
00
00
13,620 00
-
00
00
00
00
00
various dates
subsequent to Jan. 1 1861
903,680 26
903,680^26
-.^......$1,660,900 26
51,659,550 26
Objection from the inter-mountaiiL region to the issuance of currency
Aggregate debt on which interest has ceased since
against asset obligations.
6.
$
DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY.
result of the proposed appointive
Scattering, rather than concentration, of
earnings in the
5.
$
Aggregate int.-bearlng debt..1,144,379,310 913,837,710 51,868,900 965,706,610
Loan of
operation of the regional
,
$
"
Funded loan of 1891, continued at 2%, called May 18
arrangement.
3.
$
Outstanding
—
Coupon.
Total.
648,250,150 642,620,350
3,629,800 646,250,150
-Q.-F.
198,792,660 45,123;720 18,821,740
63,945,460
Q.-F.
162,315,400 100,870,300 17,619,600 118,489,900
2s, Pan. Canal Loan 1906.Q.-F,
54,631,980
54,609,080
22,900
54,631,980
2s, Pan. Canal Loan 1908.Q.-F.
30,000,000 29,675,420
324,580
30,000,000
3s, Pan. Canal Loan 1911.Q.-S,'
50,000,000
38,958,600 11,041,400
50,000,000
2V<s, Post. Sav.bds. '11-12. J.-J.
1,314.140
1,092,500
221,640
1,314,140
2^s, Post. Sav. bds. i912.J.-J.
1,074,980
887,740
1,074,980
187,240
Inadequacy of banking representation upon the Federal and district
boards.
2.
1913.
Amount
Registered.
„._Q.-J.
follows:
as
JUNE 30
—
Issued.
Payable.
2a, Consols of 1930
3a, Loan of 1908-18
4s, Loan of 1925
and anxieties which appear in the public mind with respect
to
DEBT
Amount
sufficient
widely separated sections of the entire country to
furnish the basis
following statements of the public debt and Treasury
cash holdings of the United States are made up from official
figures issued June 30 1913.
For statement of May 31 1913,
see issue of June 28 1913, page 1816; that
of June 30 1912,
see issue of July 27 1912, page 214.
the larger money
nor
centres, such as Chicago and St. Louis, it embraces a
area
DEBT STATEMENT OF JUNE 30 1913.
The
Anxiety
maturity ..l...
to possible forced denationalization of institutions now
as
'
under Federal control.
>
DEBT BEARING NO INTEREST.
•
President Platten states that, on the whole, it is evident
from the
expressions of opinion received that there exists
a
marked tendency to await further modifications of the pro¬
posed legislation, the general feeling being
one
the
prove
when finally enacted,
measure,
to the
will
of hope that
May 31.
United States notes......
.-..$346,681,016
53,152
National bank notes, redemption fund
21,539,201
Fractional currency, less $8,375,934 estimated as
lost or destroyed
.1
6,854,609
Old demand
acceptable
....
notes
.
Aggregate debt bearing no
country-at-large.
v
.
00
50
00
June 30.
.
$346,681,016 00
53,152 50
22,092,806 00
90
6,854,609 90
interest____-----L?375,127,979 40
$375,681,584 40
"
RECAPITULATION.
Increase
June 30 1913.
On the 23d inst; the stockholders of the Mutual National
Bank of Boston ratified the proposal to increase the capital
of the
institution
from
$200,000 to
$500,000.
The
new
$965,706,610 00
1,659,550 26
Interestrbearingfjebt.
Debt interest ceased
May 31
....
375,681,584 40
Debt bearing no interest
,
(+) or
Decrease (—).
1913.
$965,706,610 00
1,660,900 26
375,127;979 40
—$7,350" 00
+ 553,605 00
+ $552,255 00
$1,343,047,744 66 $1,342,495,489 66
d314,489,641 47
283,977,281 65 + 30,512,359 82
Total gross debt
Cash balance in Treasury
stock will be sold at $125 per share, and the premium will
be
applied in the creation of
liams, sales
a
manager
a
surplus fund.
Total net debt
Edward C. Wil¬
*
of the Staples Coal Co., has been elected
director of the bank.
a
..$1,028,558,103 19 $1,058,518,208 01—529,960,104 82
Includes $150,000,000 reserve fund.
Under the new form of statement adopted by the U. S. Treasury on July
1,
the item "National bank notes redemption fund," amounting to $22,092,806 at the
"J)ebt bearihg no interest," but appears
current liability in the Treasury statement of "Cash assets and liabilities."
In
close of June, is not only included In the
as a
/
The American Bankers' Association members in North
and South Carolina have
Law
unanimously endorsed William A.
(First Vice-President of the First National Bank of
Philadelphia)
for
First
Vice-President
of
the
American
arriving at the total net debt, therefore, and to avoid duplication, we have eliminated
the amount as a current liability, increasing to that extent the cash balance in
Treasury, officially reported as
$292,396,835 47.
foregoing figures show a gross debt on June 30 of
$1,343,047,744 66 and a net debt (gross debt less net cash
in the Treasury) of $1,028,558,103 19.
The
,
Bankers' Association.
TREASURY CASH AND DEMAND LIABILITIES.—
The
Floyd E. Davis was elected President of the Lincoln National
Bank of
Washington, D. C.,
the late Richard A. Walker.
cash holdings of the Government as the items stood
are set out in the following;
June 30
'
on
the 10th ipst., succeeding
Mr. Davis
formerly first
was
Vice-President and Second Vice-President, respectively, and
has been an officer of this institution twelve years.
Hulings,
a
Vice-President of the Continental
Trust Co. of Baltimore, was found dead at his home
18th inst., having committed suicide by
Hulings
health
was
for
fifty-two
long
a
years
time
viewing his condition
as
old.
and
had for
hopeless.
inhaling
He had
At
ecutive committee of the board last
been
some
a
the
on
Silver
Silver
Mr.
failing
months
been
meeting of the
Monday
a
ex¬
resolution
commending his character, loyalty and conscientious services
to the company was
nected
with
the
almost since its
adopted.
Continental
Mr. Hulings had been
Trust
organization, and
Co.
was
fifteen
.
.
—
\t
1,572,937* 169 00
demption Fund
62,200 77
23,084,092 92 National Bank 5% fund
•78,194,420 00 Outstanding checks and
warrants
13,360,808 00
9,991,659 00 Disbursing officers' bals.
2,054,492 54 Post Office Dept. bals__
8,757,310 00 Miscellaneous items.
and
interest
3;219 00 Coupons
matured....
42,895,985 20
......
20,765,510 86
_
Silver certificates......
con¬
years,
or
highly thought of by
Silver
—
bullion...
—----
United State? notes....
Treasury notes
of 1890.
National bank notes...
Fractional silver coin...
276 37
Fractional currency
Minor
2,006,469 38
coin
Cash in transit or
not
cleared
Tot. In
Frank O.
Watts, First Vice-President of the Third National
Bank of St. Louis, has been elected President of the insti¬
tution, succeeding the late Charles H. Huttig.
Mr. Watts,
who was a personal friend of Mr.
Huttig, had been President
ofithe First National Bank.of Nashville, when he
23,000,000 00
j.
Sub-Treas'les.
224,176,444 04
Depositaries:
In Nat. Bank
a
year ago to a
Bank of Union
elected
vice-presidency in the St. Louis institution.
Mr.lWatts entered the banking business
as a
junior in the
City, Tenn., in 1883, and after filling several
offices in that institution (among them that of
Cashier, to
which he was appointed before he was
twenty-one years of
Credit Treas. U.
S._.
Credit U. S. dls. officers
74,160,472 33
5,588,827 18
14,730,825
.77,053,640
10,883,411
4,564,518
1,037,510 48
3,186,102 50
Total In Philippines..
4,223,612 98
02
53
156,061,514 23
In Nat. Bank Depositaries:
Outstand'g warrants.
5,588,827 18
494,815 46
Total in banks
6,083,642 64
In Treas.
...
Philippine Isl'ds:
Credit disbursing officers 3,186,102 50
Outstand'g warrants.
421,261 69
3,607,364 19
Totgl liabilities
Philippine Isl'ds:
S...
Credit U. S. dls. officers
06
15
142,353 48
79,749,299 51
Credit Treas. U.
In Treas.
against
cash
165,752,521 06
Cash balance and Reserve:
Total cash reserve.
292,396,835 47
Made up of—
Available ..142,396,835 47
and
Reserve
was
Total gen. liabilities..
22,092,806 00
26,593,959 99
Bal. to credit dis. officers
checks
Total In banks..
his associates.
1,572,937,169 00
Gen.Fund Liabilities—
Cert, checks on banks..
Gold coin and bullion.
Total trust liabilities.
National Bank Note Re¬
Gen'I Fund Holdings.
Silver dollars,.
in
" $
_._.
...
Gold certificate?
gas.
Trust Fund Liabilities.
$
,
.1,086,727,169 00
1,086,727,169 00 Gold certificates
483,550,000 00
dollars
483,550,000 00 Silver certificate?..
2,660,000 00
dollars of 1890...
2,660,000 00 Treasury notes of 1890.,,
Total trust fund
Thomas M.
LIABILITIES.'.
assets.
Holdings.
Trust Fund
Gold coin
Reserve Fund—
Fund Holdings—
Gold coin and
Grand total.
bullion..
150,000,000 00
...2,031,086,525 53
Gold&bull.
Grand
150,000,000 00
total.........2,031,086,525 53
TREASURY CURRENCY HOLDINGS.—The following
compilation, based on official Government statements, shows
the currency holdings of the Treasury at the beginning of
business on the first of April, May, June and July 1913;
THE
1913.]
July 26
'
Apr. 1 1913. May
1 1913. June 1
BlWercSn and bullion
6,886
8,560,513
33,648,311
21,865.085
1,424,316
notes
legal- tender notes
Net
-
national
bank notes
Net fractional silver
.
Net
Minor coin, &C_
J.11 -1
1
-
„
Sub-Treasuries..363,982,650 359,714,090
Total cash in
Less
_ _
253.778,073 251,278,513
26,152,514 28,144,677 25,406,960
13,766
^.639
3,219
8,458,369
7,845,947 8,757,310
36,495,987 40,620,480 42.895.9S5
21,624,333 21,179,158 20,765,511
1,782,812
2,034,462 2,088,946
30,547,359
Net United States Treasury
Sub-Treasuries..213,982,650 209,714,090
47,731,531 48,239,524
5,192,919 .5,326,282
national banks.
Philippine Islands
in transit or checks
Cash In
Cash In
„
203,612,436 201,176,444
52,314,252
5,570,177
79,749,299
4,223,613
.—
23,000,000
—
,—
Sub-Treas.264,907,100 263,279,896 261,496,865 30S.149.356
liabilities .a..... 118,410,820 121,946,852 127,519,583 143,659,715
banks,
Net cash in
Deduct current
Balance
T.
.,..148,496,280 141,333,044 133,977,282
—-
redemption fund.
National bank
Does not include
148,496,280 141,333,044 133,977,282
Available cash balance...
Chiefly "disbursing
a
164,489,641,
22,092,806
142,396,835
t Includes 12,054,492 54 silver bullion
included in statement "Stock of Money."
officers' balances."
52 minor coin, Ac., not
fiscal year.
'
;
$20,951,781 received from Corporation Tax.
$33,516,976 received from Corporation Tax.
1 Includes $28,583,304 received from Corporation Tax.
m Includes $34,948,871 received from Corporation Tax.
the previous
j Includes
k Includes
Expenditures.
Excess
Fiscal
||Xjonctui*uiG5citixmcrdalgtiolish|^chrB
English Financial Markets—Per Cablo.
The daily closing quotations for securities, &c., at London,
as reported by cable, have been as follows the past week:
v
;
London,
1883..
1884
134,118,638
..
..
1881
..
1882
..
..
Fri.
Thurs.
Wed.
Tues.
Mon.
152,738,412
128,498,128
145,161,501
134,650,443
153,370,352
154,700,347
193,409,598
187,062,161
196,856,004
1189905407348
...
.....
...
...
4534
1634
9534
.....
Railway
1—
...I...
Preferred
Union
Pacific....
Preferred
S. Steel Corporation
Preferred
46 ;
16349534
46
" 46
1634
.1734
9434
9534
2234
2334-
2334
2334
78
15134
86
56
10934
'
...
•
79
15134
79
15234
>
2334
.
8634
5834
11034
3
7
4934
86343
5834
11034
'3
8034
15234
79
,15134
..
1898..
1899
1897
..
..
306,676,143
338,300,752
303,594,253
339,117,012
1900..
1901
..
1902 :.
1903
..
415,196,565
401,014,004
403,441,661
415,113,076
483,877,715
510,229,683
511,577,670
511,909,603
513,674,578
527,408,137
1904..
1905..
1906..
1907..
1908..
1909..
1910..
1911..
1912..
1913*.
.-.—
$
6,879,300
65,883,653
100,069,405
145,543,810
132,879,444
104.393,626
63,463,771
93,956,589
103,471,097
44 ,715,007 267,924,801 bill,341,274
b87,761,081
41 001,484 299,288,978
b85,040,272
36 ,099,284318,040,710
b26,838,542
9,914,454
2,341,675
27 ,841,406|367,525,280 —69,803,261
30 ,978,030356,195,298 —42,805.232
35 ,385,029352,179,446 —25,203,246
37 ,791,110365,774,159 —18,052,454
37
23
134,583,053
159,357,558
141,177,285
141,395,299
139,434,001
141,053,165
147,452,369
139,394,929
140,877,316
139,323,622
138,488,560
138,425,646
142,559,266
141,773,965
141,034,562
139,309,514
153,892,467
161,710,367
160,696,415
157,980,575
153,590,456
175,133,705
425,780,326
..
$
266,947,884
267,642,958
82 ,508,741260,712,888
71 ,077,207 257,981,440
59 ,160,131 265,408,138
54 ,578,378 244,126,244
51 ,386,256 260,226,935
60 ,580,146 242,483,138
47 ,741,577 267,932,180
95 ,757,575
10,401,221 124,415,951
198,506,589
183,822,039
177,360,416
186,929,884
258,331,158
1896
Receipts.
105 327,949
66,012,574
55,429,228
56,102,267
63,404,864
75,029,102
8,270,842 80,288,509
17,292,363 87,624,779
20,304,224 106,936,855
27
37
39
,547,135365,773,905
,378,1161345,023,330
,264,392383,477,954
,585,056443,368,583 -102,798,472
,896,925605,072,180 -100,909,874
75,367,146
71,142,734
91,287,375
54,297,668
28 556,349 506,099,007
24 646,490 a582402321 —a42,602,144
24 590,944 567/278,913 —23,004,229
25,933,143
24 ,308,576 568,784,799
84,221,912
24 ,481,158 578,903,748
21 ,426,138 659,196,320 —58,135,596
21 ,803,836 693,743,886 —90,154,396
21 ,342,979 693,617,064 '—18,105,349
10,170,863
21 ,311,334 691,201,512
1,897,131
22 ,616,300 689,881,334
—1,658,029
22 899,108 725,440,950
160,333 487,713,792
40
32 342,979
29 108,045
Deficit.-
Subject to revision.
Includes
509,967,353
471,190,858
/■
'
\
/
Canal and $5,600,000loaned
v; v."';-.';
•.
*
a
-
;
,
$50,174,485 paid on account of Panama
.
6 £ sterling,
'
/.
c
previous fiscal years.
GOVERNMENT
RECEIPTS
b Allowing for the
AND
Canal, which?
1905, $3,918,820; In 1906, $19,379,374; in 1907, $27,198,619;
$38,093,929; in 1909, $31,419,442; in 1910, $33,911,673; in 1911, $37,063,515; in 1912, $35,327,37^1 in 1913, $41,741,258.
were in
In
the fiscal year
1908,
BANE
NOTES—CHANGES IN TOTALS OF, AND IN
DEPOSITED BONDS,
show ail the monthly
and legal
tenders
found in
&c.—We give below tables which
changes in bank notes and in
our
on
Circulation Afloat Under—
Deposit for
"
Legal
Legal
Bonds.
Tenders.
$
June
30 1913
...
April
31 1913
30 1913
$
Mar.
31
28 1913
Jan.
737,427,800
311913
Dec.
740,529,250
31 1912
Nov.
30
Oct.
31
Sept.
Aug.
30
31
July
31
The
1913
734,448,060
732,688,750
731,943,480
734,273>150
732,544,640
1912
731,366,680
1912..
730,257,280
728,984,230
1912
727,317,530
1912
1912...... 725,505,460
Total.
.Tenders.
Bonds.
$
May
$
%
22,092,856 759,157,906
755,294,066
22,092,856 737,065,050
21,539.251 733,754,815
22,032,083 731,044.591
22,659,331 729,400,001
22,871,039. 728,246,755
20,550,148 729,931,621
21,193,423 729,778,823
21,670,491 728,515,285
22,179,543 727,169,316
22,384,311 725,395,343
22,595,751 723,905,556
23,282,793 721,623,148
21,539,251
22,032,083
22,659,331
22,871,039
20,550,148
21,193,423
21,670,491
22,179,543
22,384,311
22,595,751
23,282,793
753,076,674
752,059,332
751,117,794
750,481,769
750,972,246
750,185,776
749,348,859
747,779,654
746,501,307
744,905,941
each class of bonds
and to secure publio
in national bank depositaries on June 30.
following shows the amount of
against national bank circulation
moneys
ending
Customs.
Internal Revenue.
Miscellaneous
U. S. Bonds
Total.
Held June 30 to Secure-
Bonds on Deposit
1880.....
1881
"...
18§2
1883
.....
...
1886
.....
1889
1892
.........
1896
1898
1899
1902
...
1905
1906
1909
1910.....
.........
137,250,048
186,522,065
198,159,676
220,410,730
214,706,497
195,067,490
181,471,939
192,905,023
217,286,893
219,091,174
223,832,742
229.66S.584
219,522,205
177,452,964
203.355,017
131,818,530
152,158,617
160,021,752
176,554,127
149,575,062
206,128,482
233,164,871
238,585,456
254,444,708
284,479,582
261,274,565
261,798,857
300,251,878
332,233,363
286,113,130
300,711,934
333,683,445
314,497,071
311,321,672
318,142,344
113,561,610
124,009,374
135,264,386
146,497,595
144,720,369
121.586.072
112,498,726
116,805,937
1-18,823,391
124,296,872
130,881,514
142,606,706
145,686,249
153.971.073
161,027,624
147,111,233
143,421,672
146,762,865
146,688,574
170,900,641
273,437,162
295,327,927
307,180,664
271,880,122
230,810,124
232,904,119
234,095,741
249,150,213
269*666,773
251,711,127
246,212,644
j289,933,519
k322,529,201
1321,612,200
m 344,426,784
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
273,827,184
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
Bank
PublicDeposits
Total
Circulation.
$
1879
bonds
deposit.
The statement for June 1912
issue for July 61912, page 21.
on
Bonds and Legal Tenders
1912-1913.
held
DISBURSEMENTS.
in 1888 is $119,612,116; to
1889, $105,053,444; in 1890, $105,344,496; and in 1891, $37,329,763.
d Includes in each year the disbursements on account of the Panama
Receipts from—
Fiscal Years
June 30.
Exposition Company.
premiums paid, the actual exceas
to Louisiana Purchase
.
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 1913-13^and
1913
1893
•
GOVERNMENT REVENUE AND
1912
..
1892..
' 86
©ommcrcial an tljpis ccllatico us Jlcuis
1893
1891
Feb.
Price per share.
prices.
1887
..
1890..
will he
8634
5734
5834
5934
109
10934
10934
3
3
3
7
7
7
*
734
51
51
51
51 ,
Ex-dividend, d Quotations here given are flat
"
/'
86
234
7*
51
4s.
Extended
1734
9534
7734
15134
Wabash"
Preferred
45 34
1634
9534
2234
preferred
Island
$outhern
a
-
1889
35,121,482
2,795,320 56,777,174
1,061,249 50,059,280
61,345,194
...
........
oSecond
P
..
1888
Total.
,
Southern Pacific
U.
27^
72%
-
Rock
'
..
1887
1895..
27 1-16 27 1-16 27%
2714
27 3-16
72 13-16 72%
72 15-16 72 15-16 72% , ■
dFor account
73
72%
72 15-16 73
73
72 15-16
dFrench Rentes (in Paris) fr_ 84.7234
84.60
84.45
84.35
84.55
84.60
Amalgamated Copper Co..;. 6934
69%
69J4
70%
71%
72%
Am. Smelt. & Refg. Co..—- 64
63%
6534 •
64J4 . 64
6534
hAnaconda Mining Co
7
-7
7%
7%
7%
734
Atch. Topeka & Santa Fe— 9934
9934 " 99J4
IOO34
100%
100%
Preferred
9934
"9934
100
IOO34
10034- 10034
Baltimore & Ohio...
98
9834
100
IOO34
100,
10034
Preferred
8234
8234
8234
83
83
83
Canadian Pacific
22234
22334
224%
223%
22334
223M
Chesapeake & Ohio
56
5634
' 5634 '
5534
54 %
5534
Chicago Great Western.
14
14
14
14
1334
14
Chicago Milw. & St..Paul—107 "■
10634
108
108
10734
108t4
Denver & Rio Grande
1754
1734
1834 v
19
\ 19 V
1934
Preferred
29
29
30
30
29
29
Erie
2634
2634
2734
27
2634
2734
First preferred....
40%
41
42
4134
4134
4234
Second preferred..
3334 •. - 33 34
3434
35
34
3434 ■
Great Northern, preferred.. 12734
12734
128
12734
12734
12734
Illinois Central
...117
•
117
117
117
117
117
Louisville & Nashville..."
139
cl3834 . 13934
13934
139
C13934
Missouri Kansas & Texas... 2134
2134
22.34
2234
2234
2234
Preferred
59
59
59
60
59
59
Missouri Paclflcl
3234
32
3234
3234
3234
3334
Nat. RR.ofMex., lstpref.. 33
3334
37
37
29
30
Second preferred
14
1134
1114
10
934 • 1034
N. Y. Central & Hud. River 10034
100
101
101
101
10134
N. Y. Ontario & Western... 2934
30
3034
3034
3034
3034 .
Norfolk & Western
107
10734
108
108
10734 ' 10734
Preferred
87
87
....
87
87
87
Northern Pacific..
..11034
11034
11134
11134
11134
11134
aPennsylvania
5734
58
5834
5834
5834
5834
oReadng Company........ 8234
82 •
8234 • 8234
8234
8234
aFirst preferred
'. 4434
44 ,•
44
44
44
44
Silver, peroz
——ddConso, 2per cents
1886
Pensions.
Bonds
Purchased.
126,498,453
112,312,889
127,083,618
125,559,039
140,235,433
1879
Interest.
$
and Navy.
30
J'ne
on
War
incl.
1894..
~
Sat.
25.
of
Premium,
Ordinary,
Yeqrs
ending
1885..
Week ending July
$58,448,224
4
b Does not include
1880
and $2,068,946
$6,303,000 from sale of Kansas Pacific RR. and
Union Pacific RR.
$11,798,314 from sale of Central Pacific RR.
d Does not include $821,898 from payment of dividend by receivers of Union
Pacific and $3,338,016 from sale of Central Pacific RR.
^
g Does not Include $2,122,841 received in June 1901 from sale pf 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 Pacific indebtedness.
4
x Includes
re-payment of $5,600,000 loaned to Louisiana Purchase Exposition
353,612,436*351,176,444
150,000,000
not,
Cash
cleared
Subject to revision.
from sale of
150,000,000 150,000,000 150,000,000
gold reserve fund
Cash balance in
*
a
1913. July 1 1913.
Ne?goiaSaSSlt:..267,9!o.l80 265.ll8.309
Net
217
CHRONICLE
in Banks.
Held.
June 30 1913.
U. S. Loan of 1925__.............
U. S. Loan of 1908-1918....
U. S. Consols of 1930..
U. S. Panama of 1938
3.65% District of Columbia
Various, State, City and Railroad
4% Manila Railroad
Various, Territory of Hawaii
4%
3%
2%
2%
354,9371,784
4% Philippine Loans..
4% Porto Rico Loans
385,819,629
52,719,360
32,724,500
21,765,400
604,379,350
28,940,640
,
297,722,019
313,390,075
326,976,200
347,721,705
340,570,111
563,080,938
580,852,306
562,478,233
560,396,675
539,800,177
x544,274,6S5
594,717,942
61,225,524
601.060,724
'
54,230,360
36,504,600
25,475,800
11,862,200
616.241,550
527,000
948,000
29,467,640
11,737,600
11,737,600
948,000
10,000
10,000
1,770,000
5,782,000
1,770,000
5,782,000
1,716.000
17,425,000
_
17.425,000
_
1,716,000
867,000
740,529,250
Total
867,000
61,646,300
4% Philippine Railway
802,175,550
663,125,660
63,236,467
56,664,912
.51,894,751
64,346,103
58,844,593
61,213,793
1,511,000
3,780,100
3,710,400
3% U. S. Panama of 1961
20,191,583
24,479,004
a20,094,408
b24,596,662
d34,58S,140
635,086,186
36,153,403
45,106,969
45,621,493
48,380,087
45,315,851'
$
■
$
$
2% U. S. Panama of 1936
504,162,306
603,589,490
675,511,715
701,372,375
691,778,465
723,782,921
The
following shows the amount of
afloat and the amount of
national bank notes
legal-tender deposits June 1 and
July 1, and their increase or decrease
June.
during the month of
•
National Bank Notes—Total Afloat—
Amount
.$755,294,066
3,863,840
afloat June 1
Net amount
issued during June
Amount of bank notes afloat
.
Net amount of bank notes
Amount on deposit to
,...$759,157,906
July 1 1913
Legal-Tender Notes—
deposit to redeem national bank notes
Amount on
June 1 1913
553,605
Issued during June
redeem national bank notes June
:_... $21,539,251
11913
$22,092,856
218
CHRONICLE
THE
[Vol.
DIVIDENDS.
Per
following shows all the dividends announced for the
Days Inclusive.
3
—
Int. Harvester Co. of N.J., pf.(gu.)(No.20)
Int. Harvester Corp., pf. (gu.) (No. 2)
printed in italics.
are
Books Closed.
Payable.
Miscellaneous (Concluded)
ed
Oil, preferre
Houston
future by large or important corporations;
Dividends announced this week
When
Cent.
Name of Company.
The
Illuminating & Pow. Secuiu, pref. (qu.)-When
Cent.
Payable.
Indiana Pipe Line (quar.)..
International Nickel, common (quar.)._.
Books Closed.
Days Inclusive.
Preferred
Alabama Great Southern, preferred—
;
Atch. Topeka & Santa Fe, common (qu.)
Aug. 28
1H
6
3
Preferred
;
2
Canada Southern
134
Central RR.
2
of New Jersey (quar.)__
CMc. St. Paul Minn. & Ora.,
Cuba Railroad, preferred
com. & pref.
334
3
_
Gfeat Northern (quar.).:
—
Lake Shore & Michigan Southern
-
Mahoning Coal RR.,
Michigan Central.
common
30a
Aug.
la
rec.
Aug.
la
rec.
rec.
Jun? 27a
July 18a
rec.
Aug.
rec.
June 30a
rec.
rfjuly 10a
Holders of
July.
July
Aug.
334
19
to
22
July
IX
1
(quar.)
Carolina
■_
Aug.
IX
2
.,
19 Holders of
334
,
_
8
Aug.
July
Aug. 30
31
July
rec,
9a
8
Sept.
Aug. 17
to
Northern Pacific (quar.)....
1 %
Aug.
rec.
July
9a
Ostoego A Syracuse, guaranteed
434
Aug. 20 Holders of
rec.
Aug.
2 X
Aug
Holders of
rec.
A
Ddareare..
.......
Pennsylvania (guar.)
Pittsburgh A Lake Erie
Reading Company, common (quar.)...
First preferred (quar.)
St. L Ro-.ky Mt. A Pac, Co., com. (No. 1)
Syracuse Binghamton A New York (guar.)
75c<
$2.60
2
Xx
3
1 Holders of
14 Holders of
Holders of
rec.
26a
Aug.
5a
July 23a
July 29a
rec.
Aug. 26a
16 Holders of
rec.
July
Aug. 30 Holders of
Holders of
Aug.
Aug.
Sept. 11
July
rec.
rec.
1
5
2
Teams Central, common
—■
Utlca Clinton A Binghamton....
Holders of rec. July 25a
Holders of rec. June 30a
Aug.
July
31
9
Aug,
to
Street and Electric Railways.
July
19a
rec.
July
15
Aug. 30 Holders of
Aug. 15 Holders of
rec.
rec.
Aug.
Aug.
15 Holders of
rec.
July
31a
Aug.
1 Holders of
rec.
July
25a
Miami
North American Co.
(quar.).—
First
preferred
Second
-
Pure Oil (guar.)
Chicago Railways, partlc. certfs., Series 1
4
Holders of rec. July
CMumbuS (O.) Ry., pref. (quar.) (No. 55)
C6tamonwealthPow.IRy.&L., com. (qu.)
1X
Aug.
Holders of
15a
1
Aug.
July
IX
July
to
Aug.
1
to
Aug. 15 Aug.
Holders of rec.
Aug.
Holders of rec.
Sept.
(quar.)
1
'Cumberland Co. (Me.) Pow. A L., pf. (qu.)
Detroit United Ry. (guar.)
East. St. L. A Sub. Co., pf. (qu.) (No. 29):
Grand Rapids Ry., pref.
ffarrisbutg Traction.
IX
-. -
-
.
.- -
.
5
15
July 19a
Aug. 16a
Aug.
XX
Aug.
Holders of rec. July
15
s*
Aug.
Holders of
-
(qu.) (No. 10).
10)
IX
IX
Lewis. Aug. A Waterv., pf. (qu.) (No.13)
IX
Mexico Tramways
IX
IX
234
2X
rec.
July
Holders of
rec
July
rec.
July
Holders of
rec.
July
19a
15
July
31
20
July
to
15
31
la
Preferred
Holders of rec.
Holders of
Aug.
rec.
25
22
to
July
July
July
29
29
to
Aug. 26
to
July
Aug.
Aug.
Sept:
Aug.
Aug.
to
to
Holders of rec.
Holders of
rec.
31
31
Aug. 3If
July 31a
July 25a
July
July
Holders of rec. July
July
16
to
July
24a
31
July
26
to
July
IX
Aug.
Aug.
July
22
to
Aug.
July
26.
to
July
July
July
July
July
31
to
25a
31
Aug.
1
to
July
31
2
Holders of
1 Holders of
Aug.
4
Aug.
1 July
26
Aug..
1 July
29
Aug.
1 July
16
rec.
rec.
to
v
.
(quar.).
(quar.).II"
28a
31
11
(guar )
—_
pref. (qu.)"(No" 8)1
General Chemical, common
(guar.)
■
Preferred (quar.)^
Gorham Manufacturing,
____
com.
IIIIIII
(quar.)II"
Guanajuato Pow. A Elec., pf. (qu.) (No.20)
________________
Texas Power A Lt., pref. (qu.) (No. 5)_ —.
Torrlngton Company, common
United Cigar Mfrs., common (quar.)
to
to
Sept.
Sept.
Aug.
1
1
1
Aug.
July
20
to
Aug.
July
July
July
20
to
Aug.
1
Aug.
Aug.
4
pry Goods, common (quar.)._.!._
U. S. Bobbin & Shuttle, pref. (quar.)
Envelope,
U. S.
26
to
18
to
Holders of rec.
July
July
July
31
31
24a
IX Aug.
Sept.
2X
3X
Sept.
Aug.
IX
IX" July
July
2
July
Holders of rec..
(quar.)._
IX
July
50c.
July
Holder? of rec. July
—————
U. S. Realty & Impt. (quar.)
U. S. Rubber, common
(quar.)—(quar.).
preferred
Preferred
(monthly).
White (J.
20
to
July
Aug. 17
17
to
Sept. 2
Sept. 2
July 19a
July 15a
Aug.
to
Holders of
rec.
Holders of
rec.
July
15a
15a
12
15
15
1-6
Holders of
Aug.
Holders of rec. July
July
Holders of rec. June 30a
IX
(o)
Aug.
Holders of rec. July
Sept.
Holders of rec. Aug. 20
(g)
Inc., pref. (quar.)....
G.) Engineer. Corp.,pf.(No.l)
G.) Management Corp. (No. 1)
Aug.-
i*
— _—
White (J. G.) Co.,
White (J.
31
Holders of rec. July
,
Common-
Preferred..
Sept.
Holders of rec. Aug. 20
rec.
July
21
Holders of rec. July
Aug.
Willys-Overland Co., common (quar.)...
IX
Willvs-Ooerland, common (extra).
Woolworth (F. W.) Co., com. (quar.)
5
Sept.
19
Aug. 10 Haiders or rec. July
IX
—
Transfer books not closed for this dividend.
a
1 Holders of rec. Aug.
19
9a
d Correction.
6 Less income tax.
In common stock.
/Declared 5% payable In quarterly Installments.
of 7% per annum for 5 months ending June 30 1913.
h Payable in stock
of Wells, Fargo & Co., in the proportion of one share of Wells, Fargo & Co. stock
for four shares of American Express Co,'s stock held.
e
Payable
g
At*rate
20
to
Holders of
July
1 July
20
to
19
to
Aug.
17
to
2Xe Aug.
IX
Aug.
1 July
17
to
1 July
17
to
4
1 Holders of
July
July
July
July
IX
Aug. 11 Holders
of rec.
Sept.
4
2 Holders of rec;
Aug. 15 Aug.
6
to
Sept. 15 Sept. 6
to
Aug.
1 July 26
to
Aug.
1 Holders of rec.
Aug.
1 Holders of
rec.
16
Aug.
Sept.
July
July
July
July
Aug.
1%
134
Aug.
1 Holders of
rec.
3X
134
6
3
Aug.
1 July
Sept.
1 Holders of
1 Holders of
Aug.
16
1%
Aug.
1 Holders of
IX
Aug.
1 July
30c.
1%
Aug.
1
Aug."
1
Aug.
1
$3
Aug.
IX
134
1%
IX
134
234
134
July
July
1
31
31
20
rec.
rec.
rec.
to
rec.
rec.
rec.
to
1
Sept.
1
Oct.
1 Holders of rec.
Aug. 13 Holders of
Aug.
1
rec.
Corp., pf—I lot.
Wellsburg& Buff. Vail. C0..SI6Olot
Blythebourne Water Co..$35 per sh.
100
Bonds.
Percent.
...
$1,000 Southern Power Co. 1st 5s,
98X
1930. M. & S
$1,000 Oklahoma Gas & Elec. Co..
l^t 5s, 1929, A. & 0_—
92X
Henshaw & Co., Boston;
By Messrs. Francis
8fl',
^
ShdTCS,
Shares.
2
Mfg. Go—
10 Arlington Mills
3 Great Falls
15
$ per sh.
Shares.
1
31a
15
10
4
3
—29$
& Co., Boston:
5 vcr sh.
Mass. Cotton Mills, ex-div
105
York Manufacturing Co__
85M
Naumkeag Steam Cotton Co...14334
26
Pepperell Mfg. Co.
85
By Messrs. R. L. Day
31
Shares.
$ per sh
4 Con. & Mont.
RR., Class 1
125
5 Con. & Mont. RR., Class 4
125
2 Merrimack Chem. Co., $50 each 90X
31
15
15
23a
July
July
July
July
July
23a
15a
23a
15a
July
Aug.
July
July
July
July
July
July
By Messrs. Barnes
& Lofland, Philadelphia:
$ per sh.
Brass & Glass Co. 6
Pitts. & Alleg. Val. Ry. Co.,
550 eacli§6 lot
Meadows Land & Coal Co..
334
Del. County Tr., S. D. & T.
Shares.
10 Pitts. Lamp,
19
40
33
10a
8
Chester
j. 65
Fire Assoc. of Phila., $50 each,
I. Co.,
1
31a
17
15
Bank, Phila
220
National Bank
398
Bank, Frankford—30034
2 Fidelity Trust Co
---625
30 Phila, Life Ins. Co., $10 each 1034
2 Continental Pass. Ry
12034
6 John B. Stetson Co.,
28a
31
July 12
to
31
18
to
31
Holders of rpc. July 15a
Holders of rec. July 21a
Holders of rec. July 29a
Holders of rec. July. 29a
23
to
July 31 4
Holders of rec. Aug. 21
Aug.
900
15
rec.
rec.
Corp., com__($175
60 Kline Motor Car
Per cent.
6 1st Nat. Bk. of Scranton, Pa__344Jf
Bank....--—«_--_451_
22 Kline Motor Car
*
Shares.
31
31
19
31a
1 Holders of
July 31 Holders of
July 31 Holders of
July 31 Holders of
Aug.
1 Holders of
PeT cent.
Co., Passaic
30
Bklyn. Acad, of Music __.... 12X
Clinton Hall a?s'n.____-_-_-$35v
N. Y. Historical Soc., $25 par.$51
Hudson Realty Co..
..—
70
25 Germanla
31
July
Aug.
1
6-12
3
Aug.
Aug. 15 Holders of rec.
Aug. 16 Aug.
1
to
Aug. 15 Holders of rec. July
Aug.
1 Holders of rec. July
Aug.
1 Holders of rec. July
Aug.
1 Holders of rec. July
1%
1
1
1 July
1 July
rec.
1
25
Aug.
rec.
York;
By Messrs. Adrian H. Muller & Sons, New
Shares\
la
Aug.
Aug.
$2
other securities, the following,
usually dealt in at the Stock Exchange, were recently sold at
auction in New York, Boston and Philadelphia:
15
IX
Aug.
Auction Sales—Among
28
4
2X
"
not
26a
July 31
Aug.
1
10
Fall River Gas Works
(quar.) (No. 75).
Federal Sugar
July
1 Holders of rec.' July
25 h
34
Electric Bond A Share, pref.
(qu.) (No.33)
Electric Co. of America
:
com.
29 July
134
Edison El. 111. of Boston
(quar.) (No. 97)
Electrical Securities Corp., pref.
Refining,
July
1%
\
DomIn. Steel Corp. Ltd.,pf. (qu.)
(No.6)
Eastman Kodak, common (extra)
Preferred (quar.)_
Ft. Worth Pow. A L.,
1
rec.
IX
Distilling Co. of America, pref. (quar.)
Dominion Coal, Ltd., pref. (No. 41)
pref.
Bureka Pipe Line
(quar.).-
Aug.
Aug.
15 Holders of rec. Aug.
X
IX
Cuyahoga Telephone, pref. (quar.)
Emerson-Brantingham,
Aug. 25 Holders of
$1.75
—
Aug. 30 Aug'. 12
Aug. 30 Aug. 12
IX
IX
IX
20 Hygeia Brew.
IX
IX
IX
IX
(monthly)
Oiaflln (H. B.), 1st pref. (quar.)___
Second preferred (quar.)
Commonwealth Edison (quar.)
Consolidation Coal (quar.)
(guar.)
(quar.)i
of
31
1%
Preferred
Preferred
Aug.
3
4
...
Westinghouse Elec. & Mfg., com. (quar.)
July
July
July
July
Aug.
1%
Canada Cement, Ltd., pref. (qu.) (No.14)
Canadian Converters, Ltd. (quar.)
Cities Service, common (monthly).—
18
_____
_
Utilities Improvement, com. (monthly).'.
to
to
Aug.
20
—
July
Extra
31
17a
18a
Aug.„ 3
July 31
2
(guar.)..
rec.
Southern Utilities, pref. (quar.)
Standard Oil (Indiana) (quar.)
3-1
19a
22
22
insurance.
(quar.)......
15a
8a
31
Utah Consolidated Mining—
July
3
Brown 8hoe, Inc., pref. (quar.) (No. 3)
Burns Bros., pref. (quar.) (No. 2)______
Cambria Steel (quar.)
July
15a
Miscellaneous.
Brill (J. G.), pref.
rec.
15a
12X
■—
15 Holders of
1 Holders of
Second
Aug.
*.
Borden's Condensed Milk, common
Aug.
(guar.)..
First preferred
9a
2
__
__
IX
IX
Southern California Edison, com.
15a
2X.
(quar.)
Amer. Pipe A Constr. Securs. Co., pref.
Amer. Utilities, prefv (quar.) (No. 6)
Blackstone Valley Gas A Elec., com. (qu.)
31a
of rec. July
Aug. 15
la
Aug.
15a
3
Preferred
July
rec.
Aug.
Aug,
i*
_r
American Glue, preferred
,
American Light & Traction, com. (quar.)
Common (payable 1* common stock)
Aug.
rec.
15 Holders of
July
Holders of rec. July
3
______
rec.
Aug.
rec.
Aug.
IX
___<
Amalgamated Copper Co. (quar.)
American Bank Note, com. (guar.)
l
American Cigar, common (quar.)——1--*
Amer. Dist. Teleg. of N. J. (quar.)
4
American Express
special)
*
Amer. Gas A Elee., pref. (qu.) (No. 26)._
rec.
IX
rec.
$1.25 July
;
——
1 Holders of
Aug. 30 Holders of
Siegel Stores Corp.: preferred (quar.)
Holders of
Aug.
iji
Westchester Fire Itsuranoe.
Sept.
Silversmiths Company (quar.)
Holders of
$1.26 July
—
:
31a
Aug. 15
IX Aug. 15 Holders
1 Holders
IX* Aug.
Aug.
Sept.
Holders of re.c. July
Holders of rec. July
_
Fire
19a
July
rec.
2
____
(quar.).
common
Aug.
3
(quar.) (No. 31)__
1
Banks.
„
July
rec.
1 Holders of
IX
Extra
1 Holders of
15 Holders of
rec.
Aug.
Sept.
IX
Holders of rec. July
Holders of rec. July
Aug.
Hamilton (Brooklyn) (quar.)..
Kings County (Brooklyn) (quar.)
Nassau (Brooklyn) (quar.)...
Aug.
25a
25a
19a
July
2
—'
July
Aug.
3
__
;
rec.
July
$1.50
Union Street Ry., Nets Bedford (guar.)—
United Power A Transportation.
—
1 Holders of
Aug.
Holders- of rec. July
(quar.)
Broadway (quar.).....
Aug.
Aug. 19
2
to
Aug. 15
Aug. 15 Aug.
Aug.
1 Holders of rec. July 24a
July
Astor
July
July
to
IX
Aug.
Farmers' Loan A Trust (quar.)
rec.
1
Aug. 20 Aug.
1
Aug.
__
15 Holders of
15 Holders of
rec.
Aug.
2
IX
Pacific (quar.)*—
Twenty-Third \Vard__i__.__
Trust Companies.
Aug.
United
1
.
31
Un. Cigar Stores of Am.,com.(qu.)(No.3)
to
IX
(bi-monthly)„
July
Aug.
to
(No. 16)1
Corn Exchange (quar.)
German-American
Lincoln National (guar)
to
July 21a
14
27
Toledo Bowling Green A Sou., pref. (git.)..
Chemical National
24
rec. Aug.
5a
1 Holders of rec. July 21a
2a
Aug. 25 Holders of rec. Aug.
to
July 31
Aug.
1 July 24
Aug.
Holders of rec.
July
Railways Company General (quar.)__—.
Extra
July
to
July
Sierra Pac. Elec. Co., pref. (qu.)
Bowery (quar.)
to
Aug.
Aug.
$2
(No. 17).._C
Railway A Light Securities, com. (No. 8)
Preferred (No. 17)...
Preferred (quar.)
_
to
IX
2X
Monongahela Valley Traction,, preferred.
Montreal Tramways (quar )—„
New Hampshire Electric Rys—1
Philadelphia Co., com. (quar.) (No. 127)
Non-cumulative preferred
Public Service Investment, com. (No. 8).
York Rys,. preferred..
19
19
19
2
(quar.)...
Milwaukee Elec. Ry. A Lt., pref. (quar.)
West Penn Rys., pref.
July
July
2
Quaker Oats, preferred (quar.)
19a
Holders of
Aug.
Aug.
Aug.
July
July
Aug.
3
.....
Stewart-Warner Speed.Corp.,com,.
Aug.
Aug.
Aug.
1
....
15;
(quar.) (No. 51);
J
.
Jacksonville Trac., com.
Preferred (quar.) (No.
IX
Aug.
rec.
4e
Company (guar.) (No. 186).
Sears, Roebuck & Co.,
rec.
Holders of
4
Common (extra) (payable In com. stk.)
Public Service Co. of Nor. HI., com. (qu.)
Preferred (quar.)-.—.
—
Pullman
rec.
Holders of
Aug. 15 Holders of
People's Gas Light & Coke (quar.)
Portl'd(Ore.)Gas&Coke, pf.(qu.) (No.14)
19
1 Holders of
Oct.
July
IX
1X
IX
IX
,_
Pressed Steel Car, pref. (qaur.) (No., 58)..
Procter & Gamble, common (quar.).
-
31
23a
la
Aug.
.____
(quar,)...,
9
Aug.
July 22
Sept. 15a
July
3
Aug.
1
Aug.
1
Aug.
1
IX
IX
IX
(quar.)
Pacific Pow. A Light, pf. (qu.) (No. 12).
Penman's, Ltd., common (quar.)
Preferred
1
Aug.
Aug.
92.50
(quar.)
preferred
31
31a
IH Aug.
(quar.)
Osceola Consolidated Mining (quar.)___
Pacific Coast Co., com. (quar.)
•
21
30
1 Holders of rec. July 28
6
to
Aug. 15
Aug. 15 Aug.
IX
IX
IX
IX
Carbon, preferred (quar.)
New Eng. Cotton Yarn, pref.
Holders of roe. July
Preferred
2X
2X
_
National
Holders of
Connecticut Ry. & Ug., com. Aprcf .(guar.)„
IX
60c.
(No. 49)
Municipal Gas, Albany, N. Y. (quar.)__
Municipal Service, pref. (guar.)
Holders of rec. July
5
X
Copper Co. (quar.) (No. 6)__.
Montreal Lt., Ht. & Pow. (qu.)
Aug.
Aug.
Aug.'
Aug,
3
to
rec.
Aug.
July
31
15a
21a
31
16
Holders of
Aug.
rec.
8
July
Holders of rec. July
Holders of rec. July
Holders of
IX
to
Aug.
July
Aug.
Aug.
IH
19
19
rec.
Aug. 15 Holders of
Aug.
IX
3
31a
15
1XI Aug.
Brazilian Trac., Lt. A Pow., Ltd. (quar.)
July
15
July
2
^American Railways, pref. (quar.)..
Bay State Street Ry., first preferred
rec.
1
July
rec.
ly>
July
Aug.
Aug.
Aug.
rec.
Holders of
2 Holders of rec. July
Aug.
2 Holders of rec. Aug.
Sept.
to
July 31 July 20
July
Holders of rec. Aug.
Sept.
Aug. 30 Holders of rec. July
July 16
to
Aug.
Aug.
9a
Passaic
to
Aug.
2
Massachusetts Gas Cos., com. (quar.)-..
Mexican Petroleum, common (guar.)
1
la
Aug.
to
Holders of
Loose-Wiles Biscuit, 2d pref. (qu.) (No. 5)
Lowell Elec. Light (quar.) (No. 69)—_
10
Aug.
to
2 Aug. 15
July 15
Lackawanna Steel, preferred (guar.)
Lehigh Coal & Nav. (quar.) (No. 139)...
15a
Holders of roc. July
Sept.
Aug.
31
31
July 25
Sept. 2
rec.
Aug.
2X
IX
IX
IX
Kayser (Julius) <fc Co., lst&2d pref. (qu.)
Kellogg Switchboard & Supply (quar.)...
Kings Co. El. L. A P. (guar.) (No. 54)__.
La Belle Iron Works, common (quar.)...
June 27a
Aug.
Holders of rec.
Sept.
Sept. 30 Holders of rec.
1
to
Aug.
4 July
Sept. 19 Holders of rec.
234
—
Jefferson A Clearfield Coal A Iron, pref..
Holders of rec. June 27a
3
rec.
9a
9a
$3
Kan. City Stock Yards of Maine, pf. (qu.)
Kan. City Stock Yards Co. of Mo. (quar.)
Holders of rec. June 27a
Aug.
Aug.
Aug.
1
Aug.
rec.
50c.
_
la
July
$5
-
New York Ontario A Western (No. 9)
Norfolk A Western, common (quar.)
Preferred
June
rec,
334
__
Nashville Chattanooga & St. Louis
N» Y. Chic. & St. Louis, lat & 2d pref..
N. Y. N. H. A Hartford (quar.).
North
July
rec,
6
Guaranteed stk. (Mich. So. & No Ind.)'
Louisville & Nashville.
rec,
Sept. 2 Holders of
Holders of
Aug.
Holders of
Sept.
Holders of
Sept.
Holders of
Aug.
Holders of
Aug.
Aug. 20 Holders of
Holders of
Aug.
Holders of
Aug.
134
234
Preferred (No. 30)
Baltimore & Ohio, common
19a
31a
Holders of rec, July
Aug.
to
Aug. 15 Holders of
2X
IX
(quar.)......
26
Holders of
Holders of rec. Aug.
Aug.
July 20
to
July
Aug. 15 Holders of rec. July
$4
Island Creek Coal, common (quar.)—.
Common (extra) _—
Railroads (Steam).
July
Aug.
Sept.
Sept.
IX
IX
IX
IX
Illinois Northern Utilities, pref. (quar.)..
Per
Name *f Company.
xcyii.
Sept. 19
Aug. 11a
32534-336%
14 First Nat.
17 Girard
10 2d Nat.
Shares.
$ per sh.
1,000 Amer.
$10
Automat. Loom Co.,
each
$10 lot
1,000 Silver Glance Mg. Co., $1 ea.$2 lot
1,000 Goldfield Treas. Mg. Co., $1
each
$21 lot
5 Alliance Insurance Co
15%
Bonds.
Per cent.
$500 Cumberland
Water
Co.
5s,
1925, Dec. 1905 coup, on
$35 lot
$4,000 Altoona & L. V. Elec. Ry.
Co. cons. 4>4s, 1933
84%
$700 Ches.
&„Del. Canal 1st 4s, 1916 60
,
$1,000 Easton Lt. & Fuel Co., Tal¬
bot Co., Md., 1st 5S, 1934____'__ 40
$500 Salisbury (Md.) Water Co. 1st
:' <
5s, 1926
61
$5,500 Pitts. & Alleg. Val. Ry. Co.
____
60 Amer.
4
Phila.
Pipe & Constr. Co
Bourse, com., $50 each
55
4
1st 5s,
By Messrs. Samuel T. Freeman
'34, July '07
j
Pipe & Construction Co.
op..$14
& Co., Philadelphia:
•.
2 American
coup.
-
$ per
55
0
.
CHRONICLE
THE
1913.]
JtJLY 26
COMPANIES.
DETAILED RETURNS OF TRUST
Banks.—The following information regarding
banks is from the office of the Comptroller of the
National
national
On Dep.
CHARTERS ISSUED
Surplus,
Trust Cos.
Department:
Currency, Treasury
Loans.
00s omitted.
BANKS.
TO NATIONAL
Brooklyn
National Bank, Freeport, Tex., Capital
President; George C. Morris, Cashier.
10.420—The Freeport
$60,000.
Bankers
S. M. Swenson,
National Bank of Enterprise, Ala.
Sessions, President; L. H. Sessions
of The Farmers' & Merchants' Bank
10.421—The Farmers' & Merchants*
Capital $50,000.
H. M.
(Conversion
Enterprise, Ala.)
Cashier.
10.422—The First
U.S.Mtge.&T.
Fidelity
.
Ark. Capital, $25,000.
National Bank of Green Forest,
Guaranty
Lightburn,President; O. O. O'Neal, Cashier.
Central National Bank of New Decatur, Ala.
HM23—The
Col.-Knlcker..
Capital
Peoples
York
J>100,000. A. A. Hardage, President;Savings Bank «& Trust Co*
(Conversion of The Commercial Thomas A. Bowles, Cash-
New
New Decatur,
Lincoln
er.
Ala.)
.
Franklin
,
4
Metropolitan..
VOLUNTARY LIQUIDATION.
Clearings.—The clearings for the week
ending July 19 at Canadian cities, in comparison with the
same week of 1912, show a decrease in the aggregateof 7.2%.
Week ending July
Clearings at—
1913.
6,698,0 66,477,0 413,922,0 15.1+13.8
The capital of the trust companies is as follows: Brooklyn, $1,500,000; Bankers,
$10,000,000; United States Mortgage & Trust, $2,000,000; Astor, $1,250,000; Title
$5,000,000: Guaranty, $10,000,000; Fidelity, $1,000,000;
A Trust, $4,000,000; Columbia-Knickerbocker. $2,000,000;
New York, $3,000,000; Franklin, $1,000,000; Lincoln, $1,000,000; Metropolitan, $2,000,000; Broadway, $1,500,000; total, $46,250,000.
Vancouver
People's, $1,000,000;
SUMMARY
1910.
———
Quebec
•
Calgary...
Hamilton
St.
COMPANIES.
COVERING BOTH BANKS AND TRUST
On Dep.
Week
—
_
John
—
Victoria
London
-
Reglna
Brandon
Saskatoon
Moose Jaw
Lethbrldge
Brantford
Fort
William
New
—6.9
'
.
Edmonton
1,198,370
601,760
Westminster.
...
'
Averages.
%
$
Net
Banks.
Deposits.
$
$
$
%
$
Trust cos.
133,650,0 207,223,2 1,365,749,0 285,516,0
565,343,0 66,205,0
46,250,0 95,669,7
78,195,0
6,525,0
66,467",0
Total
179,900,0 302,892,9 1,931,092,0341,721,0
84,720,0j
66,467,0
66,477,0
Banks
—
1
Actual.
1,376,338,0
415,142,0
1,791,480,0
1,375,006,0
Trust cos.
1,365,005,0287,091,0
664,415,0 56,023,0
76,300,0
6,698,0
Total
1,929,420,0343,114,0
82,998,0i 66,477,0 1,788,928,0
Banks
2,222,896
1,305,751
„
1.384,185
962,760
Banking
State
The
459,027
413,922,0
weekly
Department also furnishes
and trust companies under its
of the State banks
returns
These returns cover all the institutions of this class
State, but the figures are compiled so as to
charge.
in the whole
total,
total.
124,931,637
7.2 145,384,469
172,001.956 185,362,993
with C.H.
Specie.
Loans.
Surplus.
Legal
Tenders.
Capital.
July 19.
+ 66.1
721,002
Not lncl. in
633,553 Not lncl, in
Medicine Hat.
Total Canada
45,559,649
30,276,907
18,783,040
9,094,975
4,134,584
2,509,230
1,928,227
2,869,827
1,879,661
1,560,918
48,900,475
59,957,489
49,115,982 —18.7 35,694,373
21,061,974
+ 3.5
26,256,059
10,211,675
+ 5.7
11,301,549
5,358,242
5,772,348 —25.5
2,829,729
+ 3.3
3,132,723
1,782,073
+ 24.3
1,858,239
2,310,585
4,204,665
5,155,547 —18.8
4,185,694
2,478,986
+ 5.5
3,260,545
3,440,437
1,722,020
+ 1.6
1,672,875
1,698,156
——6.6
2,827,068
4.161.757
3,886,958
1,402,501
+ 14.1
1,520,498
1,734,765
2,110,769
4.585.758 —10.8
4,090,533
1,225,684
+ 28.4
1,951,194
2,505,950
576,845
+ 8.7
514,368
559,351
1,064,498
2,031,536 —12.0
1,787,588
755,546
1,158,505 —18.2
947,387
640,121
646,699 —15.9
543,027
537,225
+ 15.6
588,320
680,361
.
_
Trust,
&
Guarantee
Lawyers' Title Insurance
19.
1911.
Dec.
1912.
55,816,799
39,956,072
27,172,396
11,948,295
4,303,441
3,235.791
...
__
Winnipeg
Halifax
1,193,0
%
6,525,0 66,467,0 415,142,0 15.1 + 13.8
%
Ottawa
$
686,0 2,743,0 18,387,0 15.0+12.0
132,0 17,602,0 87,703,0 15.0+16.7
340,0 4,909,0 31,506,0 15.0+13.2
30,0 2,251,0 12,653,0 15.1+14.6
1,143,0 3,487,0 20,793,0 15.3 + 14.2
1,197,0 17,397,0 108,084,0 15.0+13.8
783,0
5,610,0 15.4+10.8
236,0
1,329,0 11,093,0 16.1 + 10.6
347,0
745,0 4,749,(5 36,687,0 15.0 + 11.4
382,0 2,008,0 13,985,0 15.0+12.3
3,736,0 28,995,0 15.0+11.4
440,0
7,335,0 15.2+12.2
1,040,0
154,0
8,556,0 15.2+10.7
1,030,0
214,0
1,839,0 12,811,0 15.0 + 12.5
9,0
1,564,0 10,944,0 15.1 + 12.5
470,0
19 564,415,0 56,023,0
ending
Toronto
$
Resent.
Inc. or
Canada—
Montreal
Average.
Totals, Avge„ 95,669,7 565,343,0 56,205,0
Actual figures. July
Salisbury, Mo.
11,481,0
800,8
Broadway
8,359—The Farmers' & Merchants' National Bank of Salisbury, Mo.»
July 8 1913.
Absorbed by The People's Bank of Salisbury'
Mo.
Liquidating committee, J. W. Luck and R. P. Asbury,
Canadian Bank
—
„
Lawy. T.I. &T.
Deposits.
Banks.
$
3,571,5 23,834,0 2,061,0
14,874,3 114,639,0 13,091,0
4,455,2 36,503,0 4,389,0
1,208,4 18,279,0 1,886,0
11.355.1 33,959,0 2,042,0
23,863,5 156,681,0 15,064,0
628,0
7,393,0
1,324,0
5,776,2 16,709,0 1,447,0
7.165.4 46,607,0 4,767,0
1.529.5 15,289,0 1,727,0
11.939.2 43,076.0 3,952,0
962,0
9,170,0
1,180,5
9,942,0 1,093,0
512,1
6,114,0 21,781,0 1,903,0
;
Astor
Title Guar.&T.
M. V.
%
$
$
July 11 to July 16.
Net
withC.H.
Legale.
Specie.
Average. Average.
Average.
distinguish between the results for New York City (Greater
New York) and those for the rest of the State,, as per the
following:
York City Clearing-House Banks
and Trust Companies.—The detailed statement below
shows the condition of the New York City Clearing-House
members for the week ending July 12.
The figures for the
separate banks are the averages of the daily
the case of the totals, actual figures at the end
are
made up, see
STATE BANKS
"
DETAILED RETURNS OF
We omit two ciphers
BANKS.
-
.
(00) in all cases.
.
Surplus.
and investments..
Hanover..
...
Citizens' Cent.
Nassau:..-..
_
Market & Fult
Metropolitan
_
Corn Exchange
Imp.& Traders
Park
River.
__
Fourth..:
Second..
First
Irving—.....
26.8
27.3
27,512,0
25,935,0
10,522,0
28.1
23,659,0
24.6
14,265,0
25.6
25.1
Elsewhere In
350,0
6,604,0
f 9,055,0
183,0
|[ 5,720,0
24.4
133,650,0 207,223,2 1365,749,0 285,516,0 78,195,0 1376,338,0
26.4
76,300,0,1375,006,0
26.4
200,0
Germanla
200,0
Liberty
N.Y.Prod .ExState
Security
Coal A non-
Exch._
Nassau, Bklyn
Totals, Avge—
Actuallflgures
|W
24,015,100
—1,378,500
4,236,0
12,035,0
4,399,0
German Exch.
Seaboard
24,252,100
+97,200
10,113,300
+160,400
f
Fifth ^Avenue-
750,0
5,000,0
100,0
West Side
131,979,900
—218,200
21,280,200
—618,100
[9,298,0
German-Amer.
Metropolis
184,088,700
—1,254,700
113,324,300
V
—2,400
786,0
22,137,0
500,0
Garfield
124,109,600
+ 714,900
56,642,000
—567,500
270,0
2.294.8
250,0
Fifth
344,139,000 1,126,554,600
—3,952,300
—2,562,500
week.
Of
Total
Of
and State Banks.
Reserve which
Reserve which
Location—
' 1
Required, in Cash. Required, in Cash.
Manhattan Borough—
15%
15%
25%
15%
Brooklyn Borough (without branches in Manhat.) 15%
10%
20%
10%
Other Boroughs (without branches in Manhattan) 15%
10%
15%
7M%
Brooklyn Borough, with branches in Manhattan.15%
15%
20%
20%
Other Boroughs, with branches In Manhattan—15%
15%
15%
15%
Cities of the first and second class
10%
5%
....
Cities of the third class and villages
10%
3%
14,536,6
N. Y. County.
Lincoln...
175,825,100
+ 539,300
293,0
255,0
699,0
3,000,0
2,550,0
1,000,0
1,000,0
2,000,0
3,000,0
1,500,0
5,000,0
250,0
5,000,0
1,000,0
10,000,0
4,000,0
Bowery
Chase
Specie
Change from last
•
25.2
475.5
5,000,0
25,000,0
...
week.
12,464,0
104,499,0
35,296,0
3,330,0
8,342,0
3,990,0
113,269,0
14,465,0
3,498,0
6,007,0
14,964,0
200,0
500,0
People's
*16,524,200
117,580,200
+ 199,100
26.9
1.342.5
300,0
Chat. A Phen.
*12,932,285
79,082,0
20,606,0
11,754,0
8,762,0
14,763,0
61,674,0
24,433,0
89,097,0
1,560,0
29,380,0
975.4
2,250,0
Butch.A Drov.
Greenwich.
Pacific
164,444,200
297,738,100 1,036,892,500
+ 489,000
—1,839,500
4
25.7
600,0
Commerce..
*11,950,000
185,686,0
26,230,0
6,528,0
1,886,0
9;961,0
43,740,0
111,113,0
4,611,0
18,906,0
2,137,0
Exch-
Exch__
*8,798,000
%
500,0
Chemical
65,900,000
4—...
Surplus as of June
22,850,000
38,503,000
Capital as of June
serve.
$
$
$
$
Y. Greater N. Y.
26.3
1,500,0
25,000,0
3,000,0
City
outside of
Re-
its, Aver,
Trust Cos.
outside of
$
6,000,0
America:
Union
Net Depos-
State Banks.
in
Y. Greater N. Y. Greater N.
19,206,0
35,600,0
20,400,0
52,383,0
23,476,0
Mech.&Metals
East
Legale.
Average.
21,310,0
30,950,0
20,453,0
55,887,0
24,464,0
193,440,0
29,214,0
6,629,0
2,097,0
8,884,0
43,848,0
135,364,0
4,811,0
18,869,0
2,009,0
"71,134,0
Merchants'...
Manhattan Co
Amer.
Specie.
Average.
1,000,0
1,000,0
250,0
1,000,0
200,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
1,000,0
July 19—
S
S
$
$
2,000,0
2,050,0
2,000,0
New York
Merch.
Loans.
Trust Cos.
Greater N.
Loans
Average.
Capital.
Banks.
'
COMPANIES.
in
19.
Week ended July
Change from last
00s omitted.
AND TRUST
State Banks,
of the week
also given.
f
which the various items
""Chronicle," V. 86, p. 316.
In
results.
'
/
>
For definitions and rules under which the various items are
made up, see "Chronicle," V. 85, p. 836, in the case of the
banks, and V. 92, p. 1607, in the case of the trust companies.
are
definitions and rules under
For
Statement of New
4,280,1
4,756,8
2,178,3
8.873.7
6.438.1
30.516.1
7,410,4
.
526.8
127.2
1.047.2
4.536.4
16.526.4
466.9
1,925,2
1,817,2
5.908.0
7.900.9
14,134,6
67,2
5,948;1
2.701.5
22.020.2
3,299,8
775.4
2,012,7
683,9
10.263.5
2,273,2
815.5
1.034.6
1.742.1
1,293,1
496,1
2.211.6
842,1
2,439,1
2,745,5
860.3
587,7
423.4
543,7
994,1
1.153.7
.....
4,140,0
8,305,0
4,090,0
10,524,0
3,992,0
40,838,0
4,718,0
1,359,0
'
383,0
2,323,0
10,066,0
18,819,0
$
913,0
1,596,0
1,072,0
3,008,0
1,846,0
6,932,0
1,875,0
234,0
64,0
180,0
2,296,0
9,304.0
591,0
755,0
2,999,0
386,0
15,390,0
4,719,0
1,290,0
1+39,0
3,465,0
9,863,0
1,701,0
152,0
10,885,0
8,983,0
13,995,0
50,796,0
•. 26,927,0
4,021,0
86,563,0 21,437,0
296,0
1,343,0
5,363,0
29,721,0
2,989,0
13,642,0
110,942,0 27,814,0
5,859,0
35,245,0
775,0
3,239,0
1,410,0
8,276,0
955,0
4,016,0
96,173,0 25,110,0
2,904,0
12,576,0
557,0
3,558,0
1,234,0
5,247,0
3,478,0
14,342,0
8,962,0
2,228,0
374,0
3,929,0
1,925,0
12,283,0
765,0
3,860,0
6,023,0
22,872,0
5,735,0
23,558,0
2,331,0
9,000,0
5,452,0
18,518,0
2,501,0
11,906,0
1,157,0
6,593,0
9,136,0
'1,911,0
1,213,0
7.163,0
1365,005,0 287,091,0
1,564,0
3,161,0
67,0
704,0
222,0
7,318,0
1,056,0
1,125,0
288,0
1,906,0
917,0
384,0
389,0
•
1,156,0
507,0
Change from last
24.8
Reserve on
25.1
week.
deposits
Change from last
24.4
23.7
week.
93,669,800
—2,208,300
■
P. C. reserve to
25.1
28.2
.
depqslts.
Percentage last
2S.0%
V
28.5%
week..
14.2%
.20.9%
20.9%
17.0%
16.9%
14.8%
25.3
29.1
+ Increase over
24.8
l
25.1
last week.
.
—
Decrease from last
week.
include*
due
to
keep a reserve proportionate to their deposits, the ratio varying according to lo¬
cation as shown below.
The percentage of reserve required is computed on the
aggregate of deposits, exclusive of moneys held in trust and not payable within
thirty days, and also .exclusive of time deposits not payable within thirty days,
represented by certificates, and also exclusive of deposits secured by bonds or
obligations of the State or City of New York, and exclusive of an ainount equal to
the market value (not exceeding par) of bonds or obligations'of the State or Citjr
of New York owned by the bank or held in trust for it by any public department.
The State banks are likewise required to keep a reserve varying according to loca¬
tion, the reserve being computed on the whole amount of deposits exclusive of time
deposits not payable within thirty days, represented by certificates (according
to the amendment of 1910), and exclusive of deposits secured (according to amend¬
ment of 1911) by bond3 or obligations of the City or State of New York, and ex¬
clusive of an amount equal to the market value (not exceeding par) of bonds or
obligations of the State or City of New York owned by the company or held in trust
Note.—''Surplus'' Includes all undivided profits.
"Reserve on deposits"
companies and State banks, not only cash Items but amounts
agents.
Trust companies in New York State are required by law
25.8
for both trust
23.8
from reserve
25.6
25.2
27.5
25.1
26.1
26.9
25.3
28.1
25.5
25.2
25.3
29.4
28.6
27.3
24.3
24.7
27.9
25.3
23.9
25 6
25.8
25,0
bkCirculation.—On the basis of averages, circulation of national banks in the Clear¬
ing House amounted to $46,679,000, and according to actual figures was $46,921,000.
Deposits
25.8
'
last week.
'
806,0
268,0
158,0
Change from
25.3
*
5,920,0
611,0
1,519,0
7,144,0
2,134,0
1,903,0
124,0
2,080,0
Legal-tender A bk. no tea.
27.8
for it
by any public
Reserve
department.
Required for Trust
figures
—Trust Cos.—-
—State Banks—
Total
15%
State
The Banking
rate
Companies
6%
Department also undertakes to present sepa¬
indicating the totals for the State banks
and
companies in Greater New York not in the ClearingHouse.
These figures are shown in the table below, as are
trust
also the
results (both actual and
average) for the Clearing-
320
House
THE
banks and trust companies.
combined each
In addition,
CHRONICLE
have
we
Boston and Philadelphia Banks.—Below is
of the
corresponding item in the two statements,
and
thus affording an aggregate for the whole of the banks and
trust
[Vol.
CITY
BANKS
AND
TRUST
We omit two ciphers (00) in all these
figures.
Capital
COMPANIES.
and
Loans.
Specie.
Legals.
Deposits.
Surplus.
Week ended
19-
July
Clear.-House
Members.
Slate Banks and
Members.
ActualFigures
Average.
Trust
in
■
Cos. Not
Total of all
Banks & Trust
C.-H. Aver.
Cos.
A,verage.
Boston
May
31.
as of June
as
4...
179,900,000
179,900,000
27,550,000
207,450,000
14.
June
21.
June
Capltal
28.
302,892,900
302,892,900
75,596,100
378,489,000
1,929,420,000
Change from last week
—3,423,000
1,931,092,000
+ 2,303,000
548,740,800
—1,779,400
2,479,832,800
Loans and investments
July
5.
July
of June 4...
12.
July
_
19.
+788,928,000
—7,752,000
1,791,480,000
a554,423,300
—1,607,300
2,345,903,300
—166,300
31.
June
7.
Specie
+ 1,441,000
343,114,000
+ 3,030,000
Change from last week
Legal-tenders.
341,721,000
+ 226,000
65.421,500'
—79,000
+ 147,000
84,720,000
+ 886,000
57,593,500
363,711,000
26.40%
12,401,900
13.90%
376,112,900
Ratio to deposits....
363,391,000
26.42%
Trust cos; cash In vault
62,721,000
62,730,000
60,613,100
123,343,100
426,441,000
+ 1,112,000
73,015,000
—238,500
499,456,000
Banks: cash in vault.
_
426,112,000
Change from last week
—646,000
Surplus CASH
.66,467,000
18,484,200
—2,919,000
—574,200
84,951,200
—3,493,200
492,589,000
492,908,000
—1,807,000
91,499,200
—812,700
+ 1,387,000
reserve
12.
103,684,3
103,684,3
374,903,0
375,360,0
376,195,0
374,902,0
19.
103,684,3
373,535,0
92,093,0
$1,623,000
20,085,200
+ 675,550
now
include
the item
on
FOREIGN IMPORTS AT NEW YORK.
For
Week.
1913.
Goods
General
$3,117,103
16,716,389
Merchandise.
1911.
$3,451,813
17,001,046
28.91%
1910.
$2,854,954
12,623,743
$2,915,743
12,499,568
$19,833,492
Merchandise
Total 29 weeks.
$20,452,859
$15,478,697:
$15,415,311
$80,253,738
$77,618,775
$88,539,352
478,301,572; 404,645,970
436,814,151
$548,669,481 $558,555,310 $482,264,745 $525,353,503
i
18.04%
.'
following is
i
.
I
statement of the exports
a
(exclusive of
foreign ports for the
specie) from the port of New .York to
ending July 19 and from Jan. 1 to date:
week
+ Increase
These
16.53%
1.51%
!
$83,029,359
465,640,122
Goods..
The
28.98%
.
1912.
Since January 1.
Dry
15.11%
13.80%
on
"Exchanges for Clearing House," which
reported on July 19 as $13,831,000.
458,700
15.15%
13.83%
dep. with bks
of
Imports and Exports for the Week.—The following are
the imports at New York for the week
ending July 19; also
totals since the beginning of the first week in
January:
reserves of tr ust cos
Cash In vault
161,260,7
At Boston
.
"Deposits"
were
General
% oi cash
274,343,0
Includes Government deposits and the item "due
to other banks."
Government deposits amounted to
$1,656,000 on July 19, against
Total ......I
Change from last week
a
19,626,500
20,272,200
+ 857,400
376,238.0
28.
Dry
19,639,500
632,700
Total
Total
i
92,218,0
93,402,0
June
584,407,200
—2,619,700
Banks (above 25%).,.
Trust cos.(abovel5%)
Cash
+ 873,500
66,477,000
Change from lastweek
139,469,7
225,062,1
170.199.6
160,630,1
161.405.3
175.479.7
156.380.5
266,802,0
4,327,0
July 12.
+ 2,033,000
Total reserve
♦423,531,0 11,418,0
♦427,133,0 11,323,0
♦418.769,0 11,316,0
*415,169.0 11,246,0
*414,948,0 11,251,0
*419,892,0 11,250,0
*413,615,0 11,279,0
*416,635,0 11,275,0
271.593,0
a
deposit with
on
other bks. & trust cos
Change from last week
110,791,1
160.476.7
154.167.8
137.795.1
131.285.2
157.938.4
142,433,1
179,828.1
267,443,0
263,335,0
270,663,0
July
July.
5.
)
7,946,0
7,956,0
7,966,0
7,952,0
8,094,0
8,609,0
8,802,0
9,376,0
4.184,0
4,587,0
4,262.0
3,481,0
4,074,0
377,396,0
377,565,0
Clearings
$
260,936,0
275,708,0
91,611,0
90,394,0
89,412,0
89,151,0
90,459,0
*
Aggr'te money holdings
Money
92,313,500
+ 726,500
—159,500
14.
21.
103,684,3
103,684,3
103.684,3
103,684,3
103,684,3
t
3,845,0
3,993,0
July
407,142,500
82,998,000
—3,676,000
Change from last week
June
June
Change from last week
$
Phila.
+ 523,600
May
Deposits
$
•
60,735,4 226,410,0 26,029,0
60,735,4 230,667,0 26,284,0
60,735,4 228,794,0 26,991,0
60,735,4 226,011,0 27,113,0
60,735,4 226,770,0 26,696,0
60,735,4 227,086,0 25,157,0
60,735,4 225,033,0 27,104,0
60,735,4 225,428,0 29,323,0
7.
June
Circu¬
lation.
a
$
June
Surplua
summary
Philadelphia:
Banks.
Clear .-House
a
weekly totals of the Clearing-House banks of Boston
companies in the Greater New York.
NEW YORK
xcyii
last
over
the
are
week.
—Decrease
from
last
week,
EXPORTS FROM
deposits after eliminating the item "Due from
reserve depositories
City"; with this item included,
$623,644,500, a decrease of $2,875,000 from last week.
In
the case of the Clearing-House
members, the depoalts are "legal net deposits" both
for the average and the actual
figures,
b Includes bank notes.
NEW YORK.
and other banks and trust companies in-New York
deposits amounted
to
For
the
week
trust
companies in Greater New York
Clearing House, dompare
as
follows for
outside
:
of
the
series of weeks past:
a
COMBINED RESULTS OF BANKS AND TRUST COMPANIES
IN
GREATER
We
omit
two
NEW
ciphers
YORK.
all
in
Deposits.
Specie.
following
May
May
31.
June
%
2,487*476,8
17
24_._.
table shows
the
7
June
28
July
July
5
12
July
19....
2,479,832,8
June
14
June
21
2.345.903.3
1912 and 1911:
onDeposit
IMPORTS
OF
EntireRes.
$
SPECIE AT
$
Exports.
Gold.
420,990.1
423,439,0
417,144,3
406.995.5
407,142,5
90,626,3
495.614,7
92,890,2- 498,777,3
93,010,3 499.549,0
91,574,2 498,196,6
91,897,6 505.124.2
92,732,2 513.722.3
93,370,9 516,809,9
88,559,9 505,704.2
91,587,0 498,582,5
62,313,5 499,456,0
the
Britain
France
$3,116,167
Germany
West Indies
.
South
601.506.7
595.249.4
587.026,9
All other countries
684,407,2
Total 1912...
on average
650
America
14,825
Total 1913...—
daily
—
3I5
Legal
On
---
— -
Deposit
Total 1911
and
with
C.-H.
Banks.
Specie
and
.
Of
the
American
New York City.
Manhattan and Bronx.
$100,0
200,0
Mount Morris
250,0
349,7
119,9
511,3
656,3
767,6
173.5
334.3
Mutual
200,0
470.4
New Netherland
Twenty-third Ward..
200,0
200,0
Yorkville
100,0
300.6
-104,4
489,3
Century
500,0
Colonial
400,0
Columbia
300,0
Fidelity
200,0
1,655,0
152,0
1,584,0
304,0
6,466,0
748,0
6,627,0 1,035,0
5,705,0
552,0
1,089,0
61,0
2,248,0
369,0
4,919,0
626,0
3,338,0
355,0
1,851,0
215,0
4,183,0
645,0
100,0
58,0
National City
North Side
300,0
252,0
701.6
944.3
1,000,0
592,9
585.5
177.6
301+0
200,0
56,0
343,0
429,0
119,0
117,0
188,0
400,0
250,0
200,0
1,404,2
826,8
431.7
4,479,0
3,250,0
2,523,0
303,0
227,0
97,0
220,0
682.4
283.7
4,288,0
3,333,0
264,0
125,0
Seoond National
1,200
29,845,792
27,519,264
$194,267
136,561
74,851
•
$5,139,167
5,628,312
4,524,244
above imports for the week in 1913,
gold coin and $— American silver coin.
678,0
704,0
1,708,0
856,0
452,0
1,041,0
2,488,0
115 Issues of Listed Stocks
5,015,0
3,506,0
1,983,0
4,768,0
3,080,0
4,937,0
11,786,0
4,458,0
2,295,0
200,0
266,0
58,0
124,0
.
were
;
ijmMufl and ^financial.
are classified
by us as follows:
Investment, SemiInvestors interested In stocks can obtain
of this circular free of charge by sending for Circular 614,
"Railroad and Industrial Stocks."
The
issues
Investment, Speculative.
a
copy
Spencer Trask & Co.
43
EXCHANGE
1,519,0
659,0
645,0
678,0
452,0
1,540,0
1,512,0
YORK
Chicago
3,263,0
62,0
60,0
PLACE—NEW
Boaton
Albany
Hoboken,
First National
1,248,909
848,589
6.165,0
6,849,0
6,570,0
213,0
Jersey City.
First National
Hudson County Nat.
Third National
83,137
2,723,672
1,380,333
861,153
1,3S9,0
1,567,0
279,0
832,0
766,0
196,0
251,0
664,0
360,0
281,0
607,0
91,0
3,747,0
412,0
5,479,0
423,0
9,818,0 1,379,0
4,489,0
632,0
2,258,0
240,0
69,0
297,0
245,0
481,0
119,0
44,0
346,0
118,0
Brooklyn.
First National
345
129,135
42,742
11,490
Despdsits.
Notes.
"35",440
Net
Bank,
ments.
"Ylb", 555
$659,207 $28,207,425
Total 1912
Tender
$13,983
53,865
23,024
3,755,899
■
America
Disc'ts
Invest¬
$316,539 $10,734,109
371,998 13,215,882
118,656
7.756,209
"""7,969
West Indies
Loans,
plus.
7,759
64,255
4—
All other countries
tal.
242,814
$477,699 $24,406,977
...
..181,193
South
Capi-
2,944
528,451
6,464,378
2,028,107
1,071,597
""$1,711
22,348,289
1,494,705
47,821
590,871
SUver.
Britain
Mexico
Sur-
236,751
$3,131,732 $68,374,186
62,600 32,196,747
2,500
2,764,941
Germany
*_
$
.
714,000
5,171
100
....
Mexico
Great
'-■V-V
Since Jan. 1
'
$43,575,270
:.
Total 1913
Manufacturers* Nat__
Mechanics'
Week.
s
597.360.5
We omit two ciphers (00) in all these
figures.
Washington Heights.
Battery Park Nat
Since Jan. 1
•
Great
clearing non-member
banks for the week ending July 19, based
Banks.
Imports.
"
$
570.569.6
568.851.3
671.814.4
569,830,2
573,727,0
Reports of Clearing Non-Member Banks.—The follow¬
.
NEW YORK.
'
404,988,4
405.887,1
406,538,7
406.622.4
413,226,6
ing is the statement of condition of
'
iniports of
(
AND
Total 1911—
results:
and
exports
at the port of New York for the week ending July Id
and since Jan. Y1913 and for the
corresponding periods in
EXPORTS
Holdings.
Legals.
$
?
2.336.385.2
2.487.401.3 2.338.227.3
2.478.544.0 2.330,812,1
2,479,212,8 2.329.259.1
2,460.968,5 2.318.894.4
2.449.301.4 2,318,877.0
2,456,190.0 2.324.559.2
2,481,840,3 2.352.237.2
2,479,309,2 2,346.069,6
$12,390,022
349,401,744
$515,643,766 $466,018,823 $434,279,755 $361,791,766
Week.
May
1910.
$13,821,101
420,458,654
specie
v;
figures.
Tot Money
Investments
The
-
...
1911.
$16,998,640
449,020,183
.
these
Loans and
Week Ended—
Total 29 weeks.....
1912.
$12,746,797
502,896,971
Previously reported........
The averages of the New York City
Clearing-House banks
and trust companies, combined with those for the State banks
and
'
1913.
1,729,0
1,332,0
White, Weld & Co.
'
Totals July
Totals
July
Totals July
19_.__ 6,097,0 10,908,0
83,339,0 8,896,0 3,746,0 12,890,0
12
6,097,0 10,908,0 82,829,0 8,977.0 4,163,0
13,957,0
5
6,097,0 10,908,0
83.402,0,8,515,0.3,646,0 15,823,0
77,273,0
76,821,0
76,840,0
Bonds and
14 WALL
NEW
STREET
YORK
THE
Investment Securities.
ROOKERY
CHICAGO
>
111 DEVONSHIRE STREET
BOSTON
July 26
and
State
IpatxTtjers' (ffejetfce.
Situation.—The
not perceptibly
has continued but
of
Rock
conv.
There is said to be
:
trade but this
to be more
in
day
Adams
_
Pref rets. 5th
Surplus
""283,666
75,000'
1,376,338,000
Inc.
2,203,000
469,000
843,000
deposits...
Specie
Legal-tenders
285,516,000 Inc.
78,195,000 Inc.
...
363,711/100 Inc.
Inc.
550,750
19,626,500
of deposits
25%
1,312,000
344,084,500
Reserve held—
Inc.
Surplus ..reserve.
Note.—The Clearing House
condition of the banks
now
'
July-22.
S
468
Mining
100
761,250
367;832,000
353,353,250
369,447,000
355,587,000
14,478,750
the second page
13,860,000
issues a statement weekly, showing the actual
The
reporting to the Clearing House, appear on
preceding.
.
•
Foreign Exchange.—The market for sterling exchange
ruled firm during the week, owing to the easier money rates
on
this side.
;
At the close the demand for remittance x^as
restricted, owing to the fact that Tuesday's steamer will
mails at the same time, as Saturday's
the first Monday in August being bank holiday in
probably
boat,
deliver
London.
••
To-day's (Friday's) actual rates for sterling exchange were 4 8320 @
4 8330 for sixty days, 4 8675@4 8685 for cheques and 4 8725@4 8735 for
Commercial on banks 4 81% @4 83 and documents for payment
4 82@4 83 M.
Cotton for payment 4 82 M @4 82% and grain for pay¬
4 83)4 @4
ment
"
The
were
advanced
rest
83%.
<
,
'
.
.
posted
not
rates for sterling, as quoted by a representative house,
changed during the week from 4 84 for 60 days; the sight rate
on
of the
Tuesday %c. to 4 87M and continued at this figure for the
week.
To-day's (Friday's) actual rates for Paris bankers' francs were 5 21 % less
1-32@5 21% less 3-32 for long and 5 18% less l-32@5 18M Jess 1-16 for
short.
Germany bankers' marks were 94 5-16@94 7-16 for long and 95%
@95 3-16 less 1-32 for short.
Amsterdam bankers' guilders were 40 1-16
plus 1-32 to 40% less 1-16 for short.
Exchange at Paris on London, 25f. 25c.; week's range,
25f. 25%c.
high and 25f. 24Vic. low.
Exchange at Berlin on London, 20m. 46pf.; week's range, 20m. 47Mpf.
high and 20m. 46pf. low.
The range for foreign exchange for the week follows:
Cables.
Sterling Actual—
Sixty Days.
Cheques. '
4 8735
High for the week—4 8345
4 8690
Low for the week
4 8305
4 8655
4 8705
Paris Bankers' Francs—
5 21%
% less 1-16
Oermany Bankers' Marks—
High for the week
94 %
Low for the week___
94 5-16
Amsterdam Bankers' Guilders—
less 3-32
High for the week
18 % less 1-16
Low for the week. ..5 21
1SH
17k
18k
95 3-16 less 1-32
95 5-16 less 1-32
95% less 1-32
95 % less 1-32
High for the week
Low for the week...
39 13-16
39% plus 1-.16
40 1-16
40 1-16
less 1-32
plus 1-16 40 M plus 1-16
40}4
Domestic Exchange.—Chicago, 5c. per $1,000 discount.
Boston, par.
St. Louis,
10c. per $1,000 discount.
San Francisco, 50c. per $1,000
premium.
St. Paul, 30c. per" $1,000 premium.
Montreal, 02%c. pre¬
mium.
Minneapolis, 30c.|per $1,000 premium.
Cincinnati, par.
Terminal..
300
1,300
100
135
400
First preferred.......
figures, together with the returns of the separate banks and trust companies, also
the summary issued by the State Banking Department, giving the condition of
State banks and trust companies not.
105
_i
50
Green Bay & W, deb B_
Iowa Central....^
135,150,000
131,650*,000
190,141,300
195,518,500
1,379,796,000 1,386,581,000
47,428,000
45,942,000
1,413,413,000 1,422,348,000
290,611,000
2S5,670,000
78,836,000
82,162 >000
Saturday morning, as well as the above averages.
on
100
Amer Coal Products
Colorado & Southern.
week ending
July 20.
$
Inc.
Net
25
Am Brake Shoe & F. prei
Preferred
300
Chic St P M & Omaha..
Averages for
week ending
from
previous week.
46,679.000
...
Averages for
'
Loans and discounts... 1,365,749,000 Inc.
Circulation
100
»
paid
100
Mackay
2
300
Companies.
Preferred
-75
....
175
Nor Ohio Trac & LightOntario Silver Mining..
fj
Pacific Tel & Tel, pref_.
500
100
"
Quicksilver Mining
200
Sears, Roebuck & Co, pf
100
United
Cigar Mfrs
400
Dry Goods.....
300
United
Preferred
U S Express
Range since Jan. 1.
Range for Week.
Lowest.
Lowest.
Highest.
July 21
July 25 140
7 X July 24
7% July 24
15
July 25.
July 23 16
131
July 25
July 25 131
80
July 23
July 23 80
105
July 23
July 23 105
155
July 19
July 23 165
SIM July 25 SIM July 25
8
July 23
7H July 23
211% July 19 215M July 22
9M July 22
9% July 22
119M July 19 119 % July 19
31
July 21 31 J* July 25
66
July 24
July 22 66
75 130
Express
AUis-Chal rets, 5th paid
Chicago & Alton
1911.
■
S
Differences
133,650,000
207,223,200
Capital.
,•
for
Can Pac subs, 3d paid.
1912.
S
25.
Week
Brunswick
•
-
1913.
July 19.
Sales
stocks.
Week ending July
Batopilas
(Not Including Trust Companies.)
>
2
American Express
CLEARING-HOUSE BANKS.
week ending
recorded.
.
The open market rate for call loans at the Stock Exchange
during the week on stock and bond collaterals have ranged
from 2@224%.
Friday's rates on call wrere 2@214%.
Commercial paper on Friday quoted at 6 @6 %% for 60
to 90-day endorsements and prime 4 to 6 months' single
names and 6%@7% for good single names.
The Bank of England weekly statement on Thursday
showed an increase in bullion of £497,866, and the percentage
of reserves to liabilities was 53.69, against 53.35 last week.
The rate of discount remains unchanged at 424%, as fixed
April 17.
The Bank of France shows an increase of 22,709,000 francs gold and 2,485,000 francs silver.
Averages for
was
On the other hand Canadian Pacific declined 134
those of last week.
•'
activity developed and in several cases a substan¬
points and closes fractionally higher than last week.
points and
several others have lost fractionally.
The week's operations
leave only 2 of a list of 30 stocks lower than last week, the
advance averaging from 1 to 3 points.
Rock Island
preferred is exceptional in a gain of 3%
points.
Baltimore & Ohio is up 3 and Republic Iron &
Steel 534.
All the copper shares have been strong and U. S.
Steel is 234 points higher than last week.
For daily volume of business see page 229.
The following sales have occurred, this week of shares not
represented in our detailed list on the pages which follow:
over
peculiar feature of the bond market for some time past,
and especially this week, has been the free offerings of Govern¬
ment issues and a persistent decline in prices. J At the same
time the local money market shows an easier tendency and
all the foreign bank statements are more favorable than
YORK
more
To-day's market, the most active of the week, has been
more irregular than on any other day.
New Haven recovered
A
NEW
110 to 111%, $12,000
range
tial advance
in anticipation than for
increased demand.
an
Bonds.—Sales of Government bonds at
steadily diminished and prices moved within a
during the early part of the week.
On Thurs¬
stock
narrow
.
reasons.
and not because of
points higher than last week.
States
.
Copper metal has advanced somewhat on
reduction of the output owing to a strike among the miners
existing
a
a
Baltimore & Ohio gold 4s and Southern
to-day1 s prices of all the different issues and for yearly range
see third page following.
Railroad and Miscellaneous Stocks.—The transactions
foreseen.
V
.,
•
little better feeling in the iron and steel
seems
at
4s, reg., at 11034 to 11134. $46,500 3s, coup., at" 10134 to
102%, $26,000 Panama 3s, coup., at 99% to 10134, $500
2s, coup., at 98 and $45,500 2s, reg., at 96% to 98.
For
progressiveness, however many good intentions may have
wrought into them.
A broader outlook discloses a
state of affairs in Mexico, in the near East and in the far
East which, although not necessarily of immediate concern
here, nevertheless reveal disturbed conditions the effect or
.
bonds
State
4s close without net change.
the Board include $16,000 4s, coup., at
been
<
of
Island 4s,
United
or
extent of which cannot be
Bonds.—Sales
to
Atchison conv. 4s,
Third Ave. adj. 5s and Southern Pacific
4s have advanced 2 points or more, and a considerable
conv.•
list is from 1 to 2
sure
seems
now
limited
are
634 points.
Pacific
will be an abundant one.
In the meantime a good deal of attention is given to official
and legislative matters at Washington and at Albany,where
developments are, to say the least, unique.
They are not
at the moment of
a character to inspire either confidence
which it
Railroad
$6,000 New York 4s, 1958, at
97%, $2,000 N. Y. Canal 4s, 1960, at 99 and $162,000
Virginia 6s, deferred trust receipts, at 48 to 52%.
There has been a little more demand for railway and in¬
dustrial bonds at the Exchange, especially for a few issues,
and the market has been strong.
Of a list of 30 prominently
active issues only one is lower and two unchanged.
New Haven conv. deb. 6s are conspicuous for a decline
security markets
increased.
The volume
of business on the Stock Exchange, however, has been some¬
what larger and prices generally had an upward tendency,
although the public has shown no particular interest in the
matter and investment buying is not a feature of the market.
The latter will undoubtedly appear in due course—at the
end of the holiday period and the beginning of a harvest
more
Board
the
Night, /ufy 25, 1913.
Wall Street, Friday
Money Market and Financial
cheerful tone noted last week in the
The
221
CHRONICLE
THE
1913.]
215
200
U S Indus Alcohol......
10
Virginia Iron Coal & C.
Virginia Ry & Power...
100
100
12% July 24
7y% July 22
75% July 24
66 M July 24
63
July 21
2
July 22
95
July 21
12 M July
24
7% July 22
76
July 24
66M July 24
63
July 21
2
July 22
95
July 21
2% July 25
2X July 24
120
July 21
July 21 120
42^ July 22 43 % July 21
87
July 23
July 21 87
97
July 22
July 22 97
50
July 24 50 M July 22
30
July 25
37H July 19
52% July 25
Jan
128
June
SO
July
101
Mar
'
7%
May
16 %
May
136M
Jan
Jan
94
Jan
109M
July 175
July
SIM
Jan
W
Mar
July 215%
July
Jan
$1
0% June
203
.18
Jan
119 %■ July 125
23 % June 33
Mar
7%
June
Jan
July
69
June
17%
7%- July;
75% July
10%
87
Jan
June
69
Apr
05%
11
66
'
63
July
2
Apr
90
June
Mar
.
Jan
Jan
75%
Jan
2%
Feb
95
Apr
.
4M May
2%
July
97 M
40 M
Feb
125%
Jan
June
50%
Feb
Jan
87
July 101
96
July 105M
Jan
Feb
50
66
June
44
Jan
,
Jan
July 25
25
37 % July 19
37
July
54
Jan
52% July 25
89
July 24
51
Jan
58
Feb
89
50
50
July
90
Jan
91
July
i?5
Apr
30
Va Ry & Power, pref...
140
Vulcan Detinning, prcf.
Wells, Fargo & Co..-
100
50
July 24
July 25
750
91
July 22 105
89
5^ July
12M June
155
Highest
June 150
130
July 25
July 21
r
July
93
V
Apr
Market.—Activity this week converged on the
"rights," business elsewhere
continuing quiet.
Prices, though irregular, held fairly well,
with to-day's trading showing pronounced strength in the
more
prominent issues.
British-Amer. Tobacco improved
from 2234 to 22%.
United Cigar Stores com. advanced over
Outside
New Haven dejb. 6% bonds and
1% points to 84% and ends the week at 8334./ Tobacco
Products pref. sold up from 86 to 86% and reacted to 86%.
Anglo-Amer. Oil weakened from 20 to 1934Standard Oil
of N. J., after fluctuating between 360 and 362, sold up to
363 to-day.
Intercontinental Rubber com. appeared imthe
trading to-day at 8.
A drop of 10 points to 40 in U. S. Light
& Heating pref. foreshadowed the passing of the dividend
on that stock, announcement of which was made to-day.
' A
large part of the attention was centred in the trading in the
New Haven deb. 6s "w. i.," the price at first dropping from
105% to 104, then recovering to 10634, with the close to-day
at 106%.
The "rights" moved down from 2% to 1% and
up to 2 3-16, the final figure to-day being 2.
Union Pacific
"rights" weakened from % to % and moved up to 1 1-16,
closing to-day at 1.
Southern Pacific certifs. of interest
declined from 95% to 94% and rose to 96, ending the week
at 95%.
In the bond department Brooklyn Rapid Transit
5% notes advanced from 94% to 95, and Chicago Elevated
5% notes from 92% to 93, with a subsequent reaction to
92%»
Western Pacific 5s were traded in up from 79% to 83.
Mining issues were quiet.
Braden Copper was off at first
from 6% to 6%, but sold up to 7, and to-day down to 6%.
British Col. Copper moved up from 2% to 2% and back to
2%.
First National advanced from 2% to 3 and reacted
to 2%.
Greene Cananea declined from 7% to 6%.
Goldfield Consolidated sold down from 1 % to 1 % and up to 111-16.
Outside quotations will be found on page 229.
222
rNew York Stock
ExchangedStock Record, Daily, Weekly and Yearly
OCCUPYINQ TWO PAOES
For record of tales during the week of stocks usually Inactive, see preceding
STOCKS—HIGH EST AND
July
Monday
19
July 21
Sales of
NEW YORK 8TOOK
Week
LOWEST SALE PRICES
Tuesday
July 22
STOCKS
the
Saturday
exchange
Thursday
Friday
July 24
Wednesday
July 23
page
July 25
Range for
Range Since Jan. 1
On basis of 100-share lots.
Shares
Lowest
Railroads
8,770 Atchison Topeka ASP
Previous
Year 1912.
Lowest
Highest
>
961a
965s
•9612
97
11712 11712
•95ia
81V
877g
875S
2 16
9614
•13
30
30
9778
98
98V
97
•80
8114
♦80
81
885s
87V
87*4
217V 21878
2181s 220
*285
♦285
300
64
6278
14
14
14
14
14
14
14
*29
30
29
29
30
105
♦128
•173
182
*173
182
•34
46
*34
45
13578 1357s
128*4 12884
297g
2978
104l2 105U
136
104V 104*4
136V 135V
128V 128*4
136
I28ia 128V
*173
104V 105V
135V 135V *134
182
♦173
182
♦173
46
♦34
45
♦34
45
*
GO
157
§155"
155
*153
159
♦390
395
*385
395
•390
395
•434
*27
6
•10
*434
12
2578
♦39
3978
♦32l2
3234
1243s 124V
27
26l2
3978
32*4
40
33l2
124l8 124V
3234
113la 113i2
15ia
1534
3234
3312
113la 114
155s
16
58
59V
26»4
26«4
59i2
59V
58V
27U
♦58
12
2534
3234
60U
•7l»
8i2
•2012
25
1471a 14814
13214 13214
•126
612
*10
25*4
6778
30
*7l2
8i2
♦20
25
14734 14934
132l2 132*4
132
*126
130
*4la
♦10i2
26ig
40V
34
19l2
30
6i2
26V
40*4
40
34
•32V
123*4
33V
113 V
15V
58V
2714
•124"
125V
♦137
145
21
207g
207g
•57
61
31
145
21V
*57
60
15v
27V
132
132
21*4
22*8
67
57V
31V
31*4
10
98
97V
103*4 104
29V
♦28*4
104*8 1045S
98V
103*4 104
♦29
29V
1047g 105V
98
98*s
98
37
IOH2 104
29l2
29V
100
102V
29
29V
105
105
•80
*80
♦80
87
21*4
22*4
♦56
32 v
35
11
11
98v
99
98V
98V
99*8 101V
29V
29V
105
105V
104V 104V
10812 109
11312 114
♦897g
93l2
105v 105v
*75
108*8 108V
113*4 11378
91V
115
108*8 108*4
113*4 114
91V
*95
♦91
115
♦87
115
•95
159V 161V
160U 161*8
1597s 160*4
*80
♦80
*80
*80
86.
♦84
94
*86*4
•88
♦95
159V 161V
88
•87
16V
26V
16*8
26V
6
8812
89V
89V
163s
16*4
26l2
27V
16V
26*4
16V
2678
♦4ia
163g
♦6U
27*4
6
4»s
4*8
7
♦6v
7
27*4
27*4
27*4
•27
665s
06V
•66
70
70
18
•17
♦64*4
17V
5
15
7
*6V
•20
27
27
66
60
66
27V
66*4
♦17
18
17
17
•41V
917g
217g
41*4
41
92lg
217g
41V
927g
22V
77
77
76
927g
22
76
•14V
*14
14l2
32*4
14V
33*4
•16
4014
92ia
22U
♦77
•14
16*8
41
16V
931*
22v
77*4
♦77v
5
16
6*4
40V
92V
22V
17V
40*4
927g
23V
78
78
14i2
14*4
15
16V
33
82V
34V
34*4
36V
85V
*7
9
9
*7
9
*7V
8*4
9
10V
•10
20
♦15
20
19
*12
20
19V
22
19V
•103
103*4 ♦103V 104
♦103l2 10412 §104
104
*103
104l2
146V 14778 147
148V 1477g 149
147v 148v 147v 149V
•83 V
84
♦83V 84
83*4
83l2
♦83v
84
84
84
*17
20
82V
»2V
♦0V
6
*14
17
•7V
♦45
06V
40V
21*i
*8V
•23
29
•100
*7V
41
678
4112
41
7
*5
6
•5
17
*13
17
•13
8V
•7
8i2
41
6V
17
♦6V
44V
44*4
44*4
087g
68
687b
40l2
♦46V
48
48
48
*45
94
♦91
93
93
23
23V
68v
♦70
80
30V
33
92
93V
43
43 V
110
43V
110
*357g
38
37V
♦65
69
69
38
36V
93V
93V
3*4
20V
3*4
|20
21*4
21V
93V
3*4
20.
22
0
8V
8V
24
'24
29V
30
♦100
•8V
*7V
8*4
24V
30V
102
8V
23*4
*70
25
80
♦70
32*4
93v
43i2
44l2
92v
43v
31V
92V
44
44
112*4 ♦110
38V
•9214
♦91v
98
98
*334
4
♦20 V
23
22v
2H2
834
22
22
4
£*4
8*4
24i2
23v
30
3012
30
100
1007g
f24ia
8
♦47
50
4914
807g
•80
81
8O84
01V
62V
62
•08V
99V
"•7v
63V
62*i
99V
99
*70
33V
93V
44V
34
37v
66v
37v
37V
96
*92*4
§4v
22v
22v
9
9
62*4
61V
63*4
99v
99v
99
99*
*157
160
•150
102
*99
103
♦99
102
*99
•27
28
28
27
27
♦27
28V
J'ne
4
J'ly
J'ne
J'ne
J'ne
J'ne
J'ne
11
10
8V Jan
16V Jan
32V Jan
10
49V Jan 30
J'ne
4
20V
83V
28V
115V
25V
108V
12V
45
10
J'ne 21
J'ne 4
6
J'nell
7
May 2
20*4 J'ly 23
141V J'ne 10
126V J'nell
127
12
32
J'ne
9
J'nell
133
62
38
Dec
126
Jan
36
Jan
120V
16V
63*s
22i2
Jan
May
168V
142V
132V
23V
J'ne 10
69
J'ly 17
27V Jan
95V J'ly 11
99V J'ne 13
25V J'nell
98
J'ne 10
82V
101*4
1067&
86 V
Mch 17
J'ne 10
J'ne 4
J'ne 10
100
J'ne 25
151V J'ne 10
J'ne 10
J'ne 10
12V J'ne 10
207g J'ne 10
2*4 J'ne 17
13
J'ne 28
J'ne
65
J'ne25
1687g Jan
2
92V Apr 10
95
Apr 10
24V Feb 4
44*4 Jan
2
„89V J'nell
19V J'ne 12
69
16
J'nell
J'nell
3V
92
28V Jan
Deo
Jan
44*4 Deo
103V Deo
2
26V Jan
68V Fob
20 V Jan
83V Deo
81V Mch 26
22V Jan
8
40V Jan
2
13
Jan
9
29*4 Jan
Deo
Deo
Dec
Deo
Deo
Jan
18
,
Deo
22*s
42V
17V
68V
20V
29*4
68V
Jan 11
20*4 Apr 1
48V Jan 29
110
Jan 30
J'ne 10
30
Jan
Deo
Jan
Jan
Jan
J'ne
Feb 11
85V Jan 13
75
Jan
9
10V J'ne 4
277s J'ne 10
7VJ'iy 9
15V J'ne 4
101V J'ne 6
137*4 J'ne ll
79*4 J'ne 10
J'ne
19*4 Jan 11
J'ne 12
J'ne 12
7
29
14V J'ne 10
88
115V
1197s
98V
108V
148V
87i2
6
Jan 11
4
Deo
126
297s J'ne
1107*4 Feb
Feb 13
100
Deo
25V Deo
67*s May
35
J'ly
62V Oct
26V Oct
106V Deo
.
104
Feb
146
Mch
87
5V J'ne 17
26
88
129
109*4 Jan 80
1297S Jan 10
337s Jan 11
113V Jan
3
122V Jan
123*4 Jan
Deo
1287# Deo
18V J'ly
$40
Feb
43V Jan
J'ly 25
9
84
155's Feb
138
Jan
35
Jan
30
142V Jan
Jan
29V Jan
64v Apr
26V J'ne 10
86
May
11V Jan
Jan
Jan
Feb
Jan
47
May
Deo
56
Jan
J'nell §"150
18V J'ne 10
Dec
Deo
Jan 80
35
J'ne 12
116V J'nell
14
30
47V Deo
132V
41V
1287s
19 V
21V J'ne
66
2
2
6
Jan
9
Jan
3
Feb 6
Jan 30
65*3Jan 30
27V J'ne 19
61V Jan
7
11V Feb 5
41
10
10
Jan 10
10V Deo
9
28
108V Jan 23
162*4 Jan
6
93V Jan
6
35V Jan
3
63V Jan
2
103
4
J'nell
Feb
88V Oct
28
J'ly
67
J'ly
3*4 J'ne
12*g J'ne
3
46
Jan
2
8
Jan
May 1
J'nell
J'ne
Deo
160*4 Dec
13V Jan 14
8
J'ne 10
45
Deo
3
4
Jan
11
Jan
6
Jan
4v
550
v
22v
237fi
310
preferred
8
preferred
American Hide & Leather
Do
860
Do
preferred
;.
3
Jan
2
64'g Dec
98
J'ly
50V Jan
2
46V Deo
Mch
Do
100
160
159
159
625
102
*99
102
29
•28
29
Do
preferred, new
600' Amer Steel Found (new)
Snuff
407g Jan 31
80V J'ne 10
36V J'ne 10
129V Jan 30
108
66*8 Jan
J'ne 10
33V J'ly 2
60V J'ne 28
83V J'ne 12
93 V J'ne 17
3v J'ly 9
15V J'ne 10
J'ne 10
100
J'ne 18
7V J'ne
117
Mch
6
49
Feb
6
115
Feb
6
78V Jan
57V Jan
2
96*4
6V
28V
27*4
11V
31V
Nov
90
llV Feb
90V Feb
2
48*4 Jan
J'ne 10
27
preferred
200 American Malt Corp
Do
100
preferred
110 Amer Smelters Sec pref B
13,520 Amer Smelting Sc Refin*
Do
preferred..
1,000
64v
100v
80
J'nell
67g J'ne 10
20V J'ne 10
preferred—;
American
Jan
99
17
2,850 American Locomotive
410
57
72V May20
4,500 American Ice Securities
1,700 American Linseed....
32
102
Do
J'ne 23
.£44
21
;
5,450 American Cotton Oil
Do
100
preferred
98
9v
25v
63v
Do
Can.
....
600
38*4
81
62
American
3,600 American Car & Foundry
Do
200
preferred
«!
:.
500 American Cities
37v
66V
50
♦99
97",550
44v
•80
27
5
10
18V J' ly
34V J' no
8
~
Sep
92V J 'ne 3
1934 J'ne 10
9,400
•47
102
41
13
937g
81
27
J'nell
23
GVJ'ly
Do
100
preferred...
5,500 American Beet Sugar
Do
preferred
80
32v
92v
43*4
60
•99
550
k
•80V
159
'
26
•47
159
Aug
9
95
25v
81
157
Dec
23V Jan
*91
49
155
162
630
95
24V 25*4 ♦24
31
30V
31V
1007g 1007g ♦100
8
*7V
8V
160
8
13
Feb
24
*145
Deo
Jan
Jan
94*4 Jan 16
13V J'nell
2
preferred
preferred
95
167
445
Feb
♦80
99U
Apr 11
147 V J'nell
J'ne 12
390
Dec
Nov
45V Deo
00
22
9
8v
188
6
Jan 21
54
2
8v
45
♦47
4914
80*4
63V
Jan
J'ne20
80V Jan
217g
30
Jan 11
40
-
61V J'ne 10
♦20*4
8*4
23 v
2d
123V J'ne 10 138
May23 J189
Deo
70v 130,506 Amalgamated Copper
48
300 American Agrieul Chem.
4
"
8
50
♦80V
36V
♦91V
22*4
1st
Do
11234 ♦110v 112*4
4
.22
Do
Jan 30
32
Wheeling <& Lake Erie...
6v
18
145
Deo
J' ly
Dec
~
*69u
♦46v
67
38
7
9
36
48
66
38
2*4
9
J'ne 10
58V Apr 23,
37V
38V
...
,
68I4 Feb
7V May 6
37V
63*4
preferred
1,200 Wabash
Do
600
preferred
1,600 Western Maryland
41
Jan
116V Jan
Jan
305
9
40V J'nell
37
66*4
preferred
1,200 United Rys Inv't of S F_.
Do
1778 Jan
15V
30V
99V
139V
134V
72
Twin City Rapid Transit
Union Pacific
Do
550
preferred...
9
Jan 13
Jan
2
Wisconsin Central
Industrial
&
Miscell.
80
31*4
*48
♦98V
♦70
33ig
69
do
•
3,000
45
26l2
93i2
♦66
preferred
Texas & Pacific..
Third Avenue (N Y)
Toledo St L Sc Western..
Do
80
*10114 Feb
86V Aug
76*4 Jan
226V Mcb
28V Jan 13
14
Jan
3
70v
.
25
323s
9234
•1091a 114i2 *110
37
*3578 37l2
.....
Southern Pacific Co
Southern v tr ctfs stmpd.
Do
266*4 Jan
103V Feb
101V Jan
*130*4 Deo
50
♦90
80
preferred
40
♦7
45
*45
95
24v
Do
23
♦14
8V
68*4
50
24v
6V
*41
69v
preferred........
84
*5
17
*7
'
30*4
92V
101
•93
*43
407g
*13
8V
45V
Do
115
20*4
37v
•2v
♦6*4
40v
2V
♦5
91v
84
67g
40V
678
67s
44V
•110V 115
•357g
3712
*3V
67a
6V
41V
2V
♦6V
_.
'
40*4 41
1,300
92v 93*4 37,560
23v 23*4 12,000
400
78v 78v
15v 16
1,400
36v 37v 19,040
10v 11v
1,100
22v 24
2,200
10
*103*4 104v
148v 150v 153,300
37
2V
|2v
Pacific.....
13,230 Pennsylvania
100 Pittsb Cin Chic Sc St L-.
...
20
35
2*4
07V
93
•17V
19
35
*6V
80
•36V
♦91V
20
35
*13
23
42*4
♦18v
35
»2i2
60
♦01
♦66
18
3312
2*4
67i2
*70
30
18
33
♦2V
♦6V
40V
♦4V
8V
♦21V
191V
20
33
67g
41V
*5
*17
32V
2*4
41
14l2
33V
8*i
17
28V
6*4
40v
92*4
2278
78
14*4
3678
92v
23
•14
18
40v
89V
16V
27V
♦4V
adjustment pref..
13,015 Northern
.......
28V
5
7
•0V
8S12
...
160*4 162v 191,620 Reading
1st preferred
*80
86
2d
♦88
200
89v
preferred...
171g
17v
10,200 Rock Island Company..
Do
preferred
28v 30
14,710
5
5
662 St Louis & San Francisco
Do
*14
1st preferred
200
16v
Do
2d preferred
200
6v
6v
600 St Louis Southwestern._
•27v 28v
Do
*64
70
650
preferred
636 Seaboard Air Line......
17*4 17*4
86
94
15
10V
86
10*4
27V
16V
20V
5
•14
88
Do
86
1087g 109v
113*4 1137s
91V
Do
10,540 N Y Central A H R
29,350 N Y N H & Hartford....
430 N Y Ontario So Western.
4,200 Norfolk & Western
100v 104
129v 29v
♦75
_
preferred...
16,975 Missouri Pacific
255 Nat Rys of Mex 1st profDo
2d preferred-....
1,250
200
33v
35
10
Sc St Louis.
......
60
3212
...
Do
pref
1.705 Minn St P Sc S S Marie..
Do
105
preferred..
9,000 Missouri Kan Sc Texas...
227g
35
...
1,180
144
10
159V 160*8
•
21*4
60
31*4
9*4
~1,450 Minneapolis
16v
♦21
87
0V
132
144
pref
2,450 Louisville & Nashville
Manhattan Elevated-...
40
40v
125v 127v
142
♦56
98*8
♦35
16
125v 126
37
32*8
*128
15*4
Do
Lake Erie & Western....1
Do
pref
33,920 Lehigh Valley
134v
142
2178
"""166
1507s
133
115*4
145
200
21
149
♦126
124v 124*4
*137
♦16
148V 149V
15V
60
♦95
27V
13278 133V
38
115
59v
132V 133
10
♦95
68*4
21
*38
115
69
*15
107g
♦95
16
68V
20*4
20*4
148V 149
37
94
113v 113V
15*4
16V
113V 113V
9
31V
107V 108V
1127g 113*4
800
Do
II
1st preferred
2d preferred
14,260 Great Northern pref__._
Iron Ore properties.
13,250
1,200 Illinois Central
7,300 Interboro-Metrcp y t ctf_
Do
pref
16,460
3,425 Kansa City Southern...
35Vj
59v
10V
97*4
♦897g
33*4
27v
37
107V 1077g
1127, 113
94
•897S
34
124v 125*4
♦7v
30*4
87
34
33
33V
124V 124V
34V
33V
59v
11V
87
42v
27
15
3 Ha
4iv
9
37
11V
41V
Jan 10
92*4 May26
362
90
.
Delaware & Hudson
Delaware Lack & West..
24,800 Erie
Do
4,600
88
181
„
Denver & Rio Grande-__
Do pref
50
^
Duluth So Shore"A AtJan
Do pref
""306
6v
9
Jan 6
Jan 29
Jan 9
Jan 22
J'nell
23
400
27v
69V
31V
•30
100
12
26v
♦7
*126
2Ha
♦4v
•10
♦53
16
*57
6V
12
26*4
9
130
145
♦5
26V
40V
330
32
60
•7 V
*125
*138
♦26
32
♦10
59
27V
27V
♦58
*5914
5958
*712
8l2
25
*20i2
1485s 149*4
132i2 133l8
37
537
125V *124!f 125*2
125"
*133
♦27
6V
10 V
26*8
40*8
33V
124V
34
113V
15*4
*4V
10V
26V
12
*15
—
30
♦26V
1241s 124*8
3312 34
114ia 114i2
1534
161$
59*4
5834
27
18*4
18*4
159 ~
1557s 156 ~
395
390V 390V ♦390
♦19
19*4
19V
19V
*153"
208V J'ly
98V J 'ne 10
132V J'ne 12
pref
Cleve Cin Chic & St L
Do pref
90
♦153
90V J'ne 10
77V J'ne 18
ar83*4 J'ne 10
106*8
102V
133V
106V
51V J'ly 11
10V J'ne 4
Chicago & North Western
Do
182
♦34
159
19ia
§30
910
129v
*173
395
175s
129
128*4 128*4
137v
J'ly
J'nell
275
1,500 Chicago Gt West tr ctfs
Do
600
pref trust ctfs
14,750 Chicago Mllw & St Paul
Do
725
pref
14v
14v
29v 29v
105v 1057g
45
♦390
17V
Central of New Jersey
& Ohio
15",510 Chesapeake
54v
182
*3478
•155*
175«
32
98v
88v
96
112
320
53v
927g J'ne 12
920
216v 218v
64i2
\
Do
pref
Atlantic Coast Line RR_
Baltimore & Ohio
5,700
Do
100
pref
17,200 Brooklyn Rapid Transit52.715 Canadian Pacific
1,150
81
*280
315
63 V
135
♦165s
♦26*4
97*4
877g
216*4 218*4
*275
...
64*4
99
98
120
♦80
88
54
♦134
'
87*4
64i4
*
97*4
119
98
81
30
90
98
119
88
104
128'4
08v
98V
98
♦117
81
300
6334
1378
10334 10414
98
97i2 98
97i2 98
*117l2 119
9712
97ia
216^8 21878
14
98
119
88l2
*275
5434
97ia
97i2
119
97
81V
87V
300
64*8
118
*80
2 167g
•275
9714
97i2
9712
96l2
•80
97
118
30V Oct
75V Aug
45V Jan
2
Jan 10
Jan
8
95
Feb 10
Apr 4
Jan 31
Jan 31
20
44V Jan
106*4 Jan
2
JanFeb
3
Feb
18
■
9
Mch
30
6
Jan
Feb
31*4 Feb
103
Jan
Jan
3
45V J'ne 10
61V Jan
3
42
Jan
79 V J'no 12
86
Jan
9
84
Deo
58V J'ne 10
74*4 Jan 30
97
J'ne
4
13
6
107
Feb
Jan 22
Jan 21
150
J'ly
9
193
100
J'ne
6
105
25
J'ne
9
40V Feb
7
4*4 Jan
66V Deo
102*s Jan
123
iich
99
Feb
26
Jan
3
BANKS AND TRUST COMPANIES—BROKERS'
QUOTATIONS.
Banks
Bid
Ask
Banks
Bid
America 1
180
570
Fidel ityT
Amer Exch—
Chat «fc Phen.
Chelsea Exl_
170
500
147
153
217
222
Chemical
Battery Park
BoweryD
120
130
Citizens'
425
Bronx
Boro^
300
Bronx
Nat-
ISO
New York
Coal
135
Commerce
210
225
Corn Exch !f
T
__
_
Cosmopol'n Tj
East
295
Imp A Trad-
490
505
Banks
Bid
Mt Morris ^.
Mutual ^
225
Ask
250
Banks
Bid
Seaboard..
385
River.
Ask
430
Second
325
Irving
180
185
First
950
Liberty
620
635
New Nethf
Security T—_
115
990
210
Fourth
225
170
Sherman
175
340
360
136
Lincoln
850
875
275
Manhattan
340
New York Co
New York
State 1
395
405
Pacific If
Park
23d Ward T-_
Union Exch.
,145
360
363
Wash H'ts t.
275
225
240
Wostch
Avll-
100
165
Garfield
U75
310
85
105
330
143
Mark A Fult.
230
240
415
Mecb & Met.
230
240
Merch
150
Greenwich ?.
250
Hanover
80
_
"ff
■137
Germ-Amer 1
300
300
635
* Ex-rights,
weelu
-mm*
German Ex If
400
Ger mania 1
t451
Gotham
170
450.
Saleatook^T^h,^ay•
auotion this
Ask
285
Banks
175
160
Century 1
645
Bid
Harriman
350
275
120
640
175
395
A Iron.
150
Butch & Dr.
......
Ask
165
168
Colonial \
Columbia t_.
Bryant Park!
Chase
Bid
347
380
Cen
City....
1J5
Banks
Fifth AveT— 4300
Fifth
300
t
'.
mmm —
Exch_
-
-
650
155
195
255
„
People's ^
200
.
205
....
-mm*
125
2Y0""
...
175
180
190
Prod Exch U_
105
170
West
355
Public!!
250
290
590
Metropol'n ^
ISO
190
YorkvlUe t—
Reserve
87
fifiT
175"
450
340
Side T-
Metropolis T-
90
Merchants'
-
Nassau
290
—
—
$ Less than 100 shares.
State banks,
a Ex-div. A rights,
First installment paid,
» Sold at private sale at this price,
x Ex-div,
b New stock.
I Full paid.
600
/ Ex 24% aocum. <li
"
Julte
inactive, see second page preceding.
stocks usually
For record of sales during the week of
Range. Since
Saturday
Monday
Tuesday
July 21
July 22
July 23
127*4 127*4
214
215%
96%
*16%
77
77
•22
24
128%
214
215
217
218
98
98
98%
17
17
84%
34%
88
88
*87
41
41
•37
42
♦75%
24
*22
24
34%
8778
337,
877g
'
41
♦40
♦75%
76*j
23%
34%
*97%
preferred
4,225 Amer Telephone 8c Teleg
*.
20
42
42
♦66
70
69
70
70
129
♦125
129
♦125
♦25
27
♦25
27
19
20
51%
62
18*4
191*
51
61
♦25%
177g
Do
22
22%
22%
23*8
92
92
92
36%
35%
36%
35%
29% 30
130% 130%
29%
30*4
30
*
131
131*4
131
10*4
67
10%
10%
65
65%
*10%
*65%
♦94%
*12%
95
13
18
•14
♦34
*28
42%
16
105"
30
91
42%
14%
43
15%
15%
67%
94%
*94%
95
14
630
94%
*12%
14
14
300
38
38
100
140
140
31
30%
♦27%
77
♦73
77
31%
92 ;
♦91;
31
31
*90%
437,
92
43%
15
16
15%
16%
107
106% 106% *106
107%
112% 116
♦112% 116
♦111% 116
*105
♦104% 107
116
♦11178 116
105
105
106
106
♦105
107
•112
116
♦112
116
*112
116
15%
♦14
9
9
♦9
39%
*8*4
*38%
♦38
41
*34
40
*38
40
♦6
9
*6
9
♦6
9
6%
23
*23
*23
27
23%
88%
♦80
9
*6
*23
27%
23
•80
88%
*80
*80
*39
"""360
9*4
♦23
27%
88%
♦80
♦102
♦59
62%
88%
63
♦59
62%
98
*96%
98
*96
98
♦96%
98
♦96%
98
♦96%
98
*96%
*32
40
•33
40
♦33
40
*33
40
♦32
40
•32
40
95
95
94
95
•94
96
96
95
96
96
*95
100
•207
216
♦205
217
*205
217
210
210
♦106
115
108% 108%
26
157"
27
♦90
29%
*26
♦9478 100
>
106% 107
•25
28%
100
♦153"
♦152%
157
108
65*4
67~
58%
114%
114
♦11
*75
81
*67
100
"65%
66%
*
100
"57"
67%
"5",467
58%
fco
*75
*76
19%
21
21
*19
30
31
31
*30
32
113
19%
112% 112%
♦16%
17%
17
§80%
80%
82%
♦23%
23*4
♦92
96
23*4
♦92%
♦19
31
30
30
116
18%
18%
83
93%
24*8
24%
24%
24%
§24*4
24*4
98
*94
98
•152% 154
24*4
24%
•91
17%
17*4
21%
17»s
20%
17*8
20*8
•16
17
167g
17%
♦35%
40
38
397g
169
80
17%
24%
23%
25%
85%
86%
*86
174
30
26
•32
62
*55
63
34
62
♦54
24%
♦23
84
*83
§54
64
♦54
*4%
82%
29%
•104
*85
87
111
•104
111
♦104
111
*104
111
5
5
5
5
26%
§11
{48
♦59*4
69%
25%
*23%
11
10%
•47%
*59*4
25%
10%
48%
61
61
104
110
*87
92
67*8
65*4
10678 107
44
45%
25*4 26
97*4 97*4
63
62
60
60*4
110
♦106
89
88%
89
112
104
♦70
66%
•102
*
48
25
11%
60%
•
60% 60%
104% 104%
48*4
60%
*59%
59%
62%
♦5934
106% 107%
46
47%
25
*96
102
*96
♦63
60%
88%
.
*62%
64%
62%
110
♦108
61%
*108
*88
,89
♦109
45%
100
64%
62
110
46*4
25
25
*96
25%
102
617,
89
89
109% ♦109
62%
63
109
Central Trust
200
«.«.
-
People's
145
Homestead T
Manulaet'rs
86
400
*
.
345
355
Bankers'
Tr.
425
440
Fulton
B'way Trust.
150
160
Guaranty Tr.
Bid and asked prices: no
sales on this day.
1000
680
83
92
Fidelity
•
...
480
1150
215
290
315
530
J'ne
9
J'ne
6
16
J'nell
J'nell
14*4 J'ly 15
36
J'ly
1
:
(The)
Typewriter
...j
preferred
P S Realty & Improv't..
United States Rubber
Do
1st
2d preferred
preferred
81% Jan 22
46
Jan
45
Dec
116
„
Jan
103
Jan
16% Mch
24% Jan
95
36
77
Jan
Jan
96
.
165
35
Jan
22
..
-
Jan 13
Jan
2
28% Jan 31
89% Feb
1
92% Jan
99% Jan
213% Jan
"
I6S4 Feb
64% Feb
89% Dec
7
4
2
69% Dec
140
Jan
39% Jan
16% Jan
45% Jan 28
40% Jan 31
66?, Feb
36
Feb
Feb
106*4 Feb
158% Feb
27% Feb
98% Deo
$16
Jan
Jan
100
Feb
2884 Feb
101% Jan
118
Jan 21
4
53
Jan
6
30
J'ly
May 1
J'ne 12
J'ne 17
J'ne 10
89
J'ne 10
122*4 Jan 10
81
78
J'ne 10
99% Jan
3
113
Jan 21
98
Dec
110
J'ne
104
J'ly 10
4% J'nell
22
J'ne 25
90% J'ne
93% Jan 13
39% Jan
7*4 Jan
41*4 Jan
$34% Feb
4
Jan
4% Jan
86% Deo
3
3
9% J'ne 10
16*4 Jan 30
13
Feb
44% J'ne 6
69% J'nell
66% Jan 31
77
Jan
9
60
Jan
67
Jan
63
J'nelO
J'ne 10
69% Apr
109*4 Apr
81% Jan
69% Jan
110% Jan 30
3
497, J'nell
102% J'ne 10
Par 510
Virginia-Carolina Chem.
39% J'ne 10
J'ly
1
J'ne 30
22
93
preferred
Union
$18% Jan
50
Feb
74% Jan
28*4 Dec
t
52%
21*4
82%
*26*4
76% Jan
United States Steel
Do
Feb
61% Jan
105% Feb
98
Pipe & Fdy
preferred
Do
154*4 J'ne 12
23
J'ly 8
317, Apr 26
preferred
Do
.
88
,
81% Jan 14
J'ne 10
J'ne 10
Deo
12% Feb
56% Jan
2
107% Jan 27
9
104
Deo
122
Teleg
let
58%
53%
1077,
81%
109
J'ne 10
J'ne 10
J'ne 13
J'ne 20
J'ne 14
_
60% Jan
2
43% Jan
Jan
114
76% Jan
79% Jan
_
119% Jan 17
112
Jan
2
115% Jan
8
45% Feb
105% J'ly
75
Jan
68% Feb
107% Deo
$52% Jan
40*4 Deo
1147, Dec
71*4 Dec
66% Jan
1147, Jan
112% J'ly
93%J'ly
Trust Co'i
Bid
Ask
Bid
Trust Co's
Ask
Trust Co's
Hudson
130
140
N Y Life A Tr 1000
170
176
N Y Treat...
600
620
Brooklyn Tr.
Citizens'
Lincoln Trust
120
130
Title Gu A Tr
418
425
Franklin
Metropolitan
410
425
Transatlantic
200
220
Hamilton
Union Trust.
376
390
Home
U S Mtg A
440
450
United States 1090
1110
142
132
ance
Mut'l
(West¬
chester)...
Tr
1020
....
140
Atk
...
...
Kings County
_
350
365
145
165
Queens Co
-i
240
-
286
270
118
108
530
285
People's
.
155
145
'
••'•a
.130
Nassau
Washington
490
470
»
Westchester
180
Bid
Brooklyn
NY City
City
295
640
..
103
:
$ Ex-rights, a Ex-div. and rights. 6 New stock, d Quoted
1 Banks marked with a paragraph (ID are State banks, s Ex-dividend.
§ Less than 100 shares.
dividend.
92% Jan 30
22% J'ne ll
90% J'ne 10
15
J'ne 10
17
J'ne 10
72
J'nell
Mutual Alll-
205
Astor
140
Ask
570
470
220
Stock Exchange v at auction this week. J Ex-stock
May29
of N J
Company
...
300
Farm L A Tr
'
.
Knlckerboc
185
206
76
114
„
Law T I A Tr
990
Equitable Tr.
NY City
19% Jan 30
88% J'ne 10
109
J'ly 11
152
J'ne 10
preferred
1,950 Wool worth (P W)
Do
preferred......
300
Empire
Trust Co's
1247, Jan
6
18% J'ne 10
Bag & Paper.....
Do
N Y
Commercial
425
Montauk !.....
155
100
Mechanics*!.
Nassau
....
4
J'ne
73
1,000 Western
N'T City
155
125
Hillside!!
1,100
Columbla-
156
140
J'ne
14% J'nell
9,050 WostiLgx-ouse K1 8c Mfg.
Bid
285
156
300
J'ne 11
23
Milling
Deo
62*4 Apr
$23% Feb
9
Telep & Teleg
Steel 8c Ir
Apr
105
78% Feb
COMPANIES—BANKERS' QUOTATIONS.
Trust Co's
175
135
280
69
104
63
89*4
109%
109% ♦109
276
Coney Isl'd !
•
Ask
Mch
107*4 Jan
26% Jan
128% Jan
55
64%
91%
90
20% J'ne 10
167
2
44
Do preferred
4,810
27,500 dUtah Copper
100
116
♦108
Brooklyn
National City
North Side!.
First
Greenpoint.
Bid
26%
102
637,
64
64
109
26%
♦97
Banks
Brooklyn
...
316,571
106% 107
26
BANKS AND TRUST
Fiatbush
1,525
69"
106% 106%
467g
45%
45%
26
105% Jan
Jan 28
100
Do
Ask
Bid
Banks
400 Union
104
"67%
44%
97% J'ne 10
55
J'ly 18
„
"V,366
61
^66% "68"
107
107
7678 Jan
116% Jan 22
8
61%
104
Feb 20
Dec
J'ly
2
150
48%
104
66
Dec
90
Jan
651 U S Cast Iron
*47%
104
J'ne 13
J'ne 10
200
103
j150
Mch
8
82% Jan
400
48%
104
104
105
20
12%
"66*8 "6678
67%
66%
397, Jan
Jan
95
Jan
947, J'ne 10
84
J'ly 18
J'ne
92
♦70
116% Jan 23
J'ly 16
26%
60%
_
6
J'ne 10
12%
60
102% Oct
104% Jan
Mch
236
13
Do
48*4
60
69
9
6
106% J'ly 22
21
J'ne 11
1,500 Texas Company (The)..
5%
11%
Jan
Jan'
6
102%
156%
105%
36%
4
J'ne
497, Feb
7
J'ne
60
111
*23
25
13
*47%
*59%
♦109
♦109
25
Oct
91
11,400 dTennessee Cop..Par 525
•
25
♦10
100
297, J'ne
preferred
100 Underwood
♦5
6%
*47,
5%
86
86
*104
6
lQ57g 106%
43% 437g
♦25
26%
*96%
98
62% 62%
59*4
69*4
•106
30*4
29%
105% 106%
87
92
65%
30%
106
*84
60
104%
•70
297g
87
6
5934
82%
♦81%
*84
10%
48%
60%
*59%
.
217,
86%
86
26
♦47%
22%
29**
Jan
_
9
116
Do
50
preferred
1,400 Studebaker Corp
Do
100
preferred
22%
22
*82
106
102
195
Do preferred
10,240 dRay Cons CopperPar510
17,190 Republic Iron 8c Steel
Do
preferred
8,100
600 Rumely Co (M)
Do
800
preferred
800 Sears, Roebuck & Co..
62
22%
105% 105%
Sep
J'ne 10
97
Lead
200 Standard
62
86%
71
1,725 Railway Steel Spring
33%
*54
30
287g
105% 106
Feb
preferred
preferred..
310 Sloss-Sheffield
*30
22%
Dec
81
Steel
80
34
*104
...
.
*30
♦84
'
*2[3%
10%
•82
106%
•27"
86
86
*104
86%
29
29%
105% *101%
40
33
23%
22%
■
29
*82
84
28%
*104'
25
'
1678
40
1747g 175
26% 27
33
'
24%
167,
39*4
39%
107
...
25%
87
20
*16%
34
♦54
t
20
40
*37%
173% 174
30
*23%
26
34
*17
Jan
18% Jan
Jan
j
...
"l8%
26
867,
Deo
107*4 Jan 22
68
J'ne 9
110
Pub Serv Corp
26%
"18"
"17% "l8%
17%
85
Dec
90
6
56
200
24?
172
♦30
26
91
17%
8678
17%
39%
175
•23%
*30
172
169
*25
26
25%
25%
91
24
17%
21%
85%
17%
39%
85
♦80
85
25%
95
•91
95
♦91
20
*79
153% 153%
25%
25%
*152% 155
24*4 25
95
Dec
63
Feb
May
dNevada Cons Cop Par 55
365 Pullman
155
♦153
12
70
94
1.410 Pressed Steel Car
Do
preferred
110%
•107% 109% ♦107% 109% ♦107% 109% ♦107% 109% *107% 109% *107%
Mcb
J'ne 11
2,545 Pittsburgh Coal.....
Do
preferred.
2,150
18%
155
4
15*4 J'ly
93, Jan
*457, Jan
48% J an 30
J'ne 12
83
...
83
♦94
12% Jan 30
22% J'ne 13
prefjrred
600 Pacific
18
153% 153% *153
7
7% J'ne 10
2,150 People's0L40 (Chic).
82%
97
7
2
New York Air Brake
6ioi North American Co (new)
200 Pacific Mail
83
*93
4% Jan
6
300
82
96
•93
96
Do
Dec
105% Feb
113% J'ly 10
113% May
19% Jan
36
Mexican Petroleum
Do
Dec
$16% Deo
107% Mch 29
n
.....
105
$47
_
115% Jan 30
108
Mch 7
(St L) com
(P)
Jan
68
27, J'ne 10
4
Do
preferred
May Department Stores.
Do
preferred
6,600
21
21
31
113
112% 113
18
18*8
•112% 113%
18%
17%
17%
83
82%
83%
24%
23*4
237g
116*4 *114
*19
21
30
113
19%
31
70% May
60% Dec
95% J'ne 10
Msyl2
preferred
600 National
'
49%
49
48
49%
48
*46
48% 49%
47
47
47%
107%
•105% 107% ♦105% 107% •105% 107% *105% 107% *1061, 107% ♦106%
16
16
16%
16
16%
16%
15*4
157,
15*4
15%
15%
15%
63
63
63
63
*58
*58
61
61
63
*68
•6S% 63
70
*66
70
*69
§70
70
70
70
70
•69
68
68
*29
Feb
610 Nat Enamel'g 8c Stamp'g
Do
112
preferred
♦45%
•18
Jan
30
111
Liggett & Myers Tobacco
270
78
78
81
155
12% J'ne
4,010 dMlami Copper...Par
2,750 National Biscuit
23%
227,
22% 23%
22% 22%
118% 118%
118%
114% 116
117
*115% 119%l
1167, 117% §117
*12
18
13%
13%
13%
§13
82
*77
82
♦76
400
114
119*4 *116% 119*4
119*4 ♦116
12
12
12
12
11*4
•116
609
70
*
100
"65%
Jan
34% Jan
79
Jan
8
103*4 Apr 25
96
J'ne 10
111
May 12
Pump...
Do
preferred
KayserA Co (Julius)....
Do
1st preferred....
Kresge Co (S S):
Do
preferred
100 Lorillard Co
108
70
*68
57*4
22%
2278
114% 115
22%
217,
22
22
♦11234 114
"66%
58
*
100
*-_
100
100
187
May
20% Jan
1st
Dec
11% Feb
63% Jan
2d
Jan
Dec
20
.05% Jan
Do
♦66
10
75
99% Dec
37% Jan
14% J'ly 12
Do
Jan
129*4 J'ne 10
26
May 16
210 Loose-Wiles Bis tr co ctfs
♦152%
70
_
21*4 Jan
40*4 J'ly 11
Do
Feb
23% Feb
135% Dec
Jan
Interest Steam
100
80
$25
2
Jan 22
Do
1,300
*105% 106% ♦106
105% 106
68
68
■
630
217
♦210
215
*153"
♦160"
175
108
113
♦107
*106*4 113
67*4 677g
*66% 67*4
*
95%
95%
214
16% Feb
18
preferred.
Lackawanna
Deo
997, Dec
79% Jan 31
100% Jan 16
25% J'ne 10
89
J'ne 10
650 Laclede Gas
110
♦107
108% 108% *107% 110
28%
*24%
28%
*24%
28%
*24%
98
100
*90
*95%
♦95% 100
:
29
84
44
Int Mer Marine stk tr cts
400
Nov
49% Dec
Mch 19
33
Do
preferred
:.
Interest Harvester Corp.
Do
preferred
"""iOO
*102
*59
62%
♦6
28
"
17% Jan 31
7% J'ne 10
61% J'ne 10
94% J'ly 8
9*4 J'ne 10
13
J'ne 10
70
pref stk tr ctfs
1,300 International Paper
Do
preferred
6%
23%
142% Jan
Do
100
40
*39
40
*80
88%
♦102
♦59
62
♦59
62
•59
27%
88%
♦102
•102
♦102
'""400
106
*112% 116
*112% 116
♦112% 116
3*4
3%
*3%
3%
3%
3%
16
16
•13
v
*14%
14%
15*4
14%
9!
♦9
*9
9%
9%
9%
9%
15%
9%
•14
♦112% 116
3*4
♦3*8
*14%
3*4
♦3*8
3*4
*3%
♦104
107
*105
-
47% Jan
41% Feb
Do
300
107
♦106
106
♦106
105
*111%
J'ne 10
24% J'ne 10
125% J'ne 10
preferred..
Deere « Co pref.
Distillers' Securities Corp
Federal Mining 8c Smelt'g
Do
preferred
2734 Feb
56% Feb
137% Mch
103% Feb
30% Feb
97% Mch
30% J'ne 10
Dec
102% Feb
66% Feb
_
86
Jan 30
288
Copper...Par $5
Feb
31
Feb
105% Feb
1377, Jan 27
Mch 27
J'ne 10
1,425 dGuggenh Explor Par 525
6,450 a Insp'n Con Cop Par$2,Q
Interest Harvester (old)
"""206 Interest Harvester of N J
44%
15%
106% J'ne
41% Jan
72% Apr
J'ne 10
J'ne 11
pref v t ctfs
1,500 Goodrich Co (B P)
92
44%
49
17
Do
""iOO
31*4
31*4
437g
63% Jan
99
Gen Motors vot tr ctfs...
32%
•73
8
J'ne 10
16% J'ly 23
J'ly 23
2,050 General Electric
140% 140%
*27%
29%
74%
*90%
43%
14*4
14
Dec
834
46
Consolidated Gas (N Y).
Corn Products Refining.
650
Nov
79
25% Jan
41% Jan
120
Jan
25
Colorado Fuel 8c Iron.*.
J an
Jan
Feb
Jan
18
32% Jan
62% J'ne 10
J'ne 10
preferred
dOhino
100
14
132
97,
66
40
*27%
74%
91*4
43
42%
147,
*65%
37%
14
31
29%
♦90
91
42%
14*4
10%
17,300
32%
6,630
31%
4,030
131% 132*4
3,200
10%
10%]
66
131
Do
600
9278
37*4
927,
31%
29%
139*4 140%
74%
24%
May 7
121
;
10,950 California Petrol v t ctfs.
Do
preferred
49 I
2,000
Case (J 1) ThreshMpftr cfs
9812]
Central Leather
*
24% "lb",540
18
*12%
*34
92%
29%
29%
91
37%
*
1397g 140
•27% 29%
♦73
24%
9278
36
115%
1375,
241%
101%
J'ne 10
25
19%
18
47
23%
1131% 131%
97g
10%
66%
65%
*94% 95
40
74%
♦73
74%
*73
14
*34
139*4 140%
♦277, 29%
92**
36%
30*4
30*4
13%
14
42%
♦24
42%
139% 139%
29%
♦277,
♦91
36%
131
13%
13%
♦91
*46%
98%
24
92%
227g
92%
3578
30*4
10*8
67
95
'18
98%
48
*91
Do
preferred..
Brooklyn Union Gas
113% Dec
3
294*4 Jan 10
106% Jan 27
21
Apr 17
81
Jan
6
100% J'ne 25
__
30 Butterick Co
27
♦25%
§27
17%
45
10%
*65%
♦94%
95
♦94%
12%
♦14
23
*92
27
18%
18%
27
2,600
129
♦125
preferred
Bethlehem Steel........
is'.eoo
72%
71%
71%
129
16%
*25%
98%
23%
92%
987,
347,
71
♦125
50
60
•91
*91%
71
129
27
19%
♦91
987,
♦91
70
•125
71%
129
J'ly
43
103%
•100% 103*4 •102% 103*4 *102% 103*4 •1027g 103% *1027^103% ♦1027,
3478
34%
31
327g
34%
31
33*4
32% 33%
31*4
31
3Hs
♦124
87
40
31
Jan
140
307, J'ne 10
600 Assets
90
42
20
*
Lowest
116%Jan 28
J'ly 11
.
74
Jan
118
16% J'ne 10
Realization—
800 Baldwin Locomotive..*.
3578
*88%
96
Woolen.—_—
preferred
300 Amer Writing Paper pref
9,185 aAnaconda Cop Par 525
23%
89
J'ne
200
Do
450
76*4
89
__
100 Amer:can
*75%
23%
35%
Previous
for
Year 1912
Highest
104*4 J'nel2
110% J'nel2
125% J'ne 10
Do
200
2,100 American Tobacco
Preferred, new
1,300
9812
*16%
Range
of 100-share lots
Lowest
Industrial & Misc (Con)
2,200 American Sugar Refining
126% 127%
219
222%
98
20
76*4
23%
35%
97%
*16%
*75%
23%
34%
20
76*4
23%
34%
90%
♦16%
76
♦22
41
128
98%
75%
90
*40
128%
20
337
33%
87%
128
97*4
97%
♦16
20
128%
116
basis
On
Shares
110% 111
115% 115%
111*8
219% 219%
219
215
97
111
111*8 111*8
112% 112% *112
128
127*4 128
Week
1
Jan.
EXCHANGE
25
July
116
116% *112
♦112
116
110% 111%
112
109% 109i4 ♦109
NEW YORK STOCK
Friday
Thursday
July 24
Wednesday
July 19
STOCKS
the
•112
Sales of
SALE PRICES
LOWEST
AND
STOCKS—HIGHEST
233
Record—Concluded—Page 2
New York Stock
261913.]
dollars per share.
I Bale
^
224:
New York Stock
Jan.
Price
U. S. Government.
p
No.
45
Ask Low
9944 Sale
Foreign Government.
Argentine—Internal 5s of 1909. M
Chinese (Hukuang) Ry 5b £
J
Imperial Japanese Government
Sterling loan 4)^s
_.1925 F
971,
9712
98
89
89
85
92
878, 88%
87*2 Sale
79*4...
87i4
87i2
t
96i2 J'ly
X 847, Sale
1
92
84
84
89*2
92
95*8
85
1
uoo
76*4 J'ly '13
Sale 100
*♦94%
96
13
317
92
14
9034
2
00*,
92
92I4 92
92
91*4 92% 01*4
101
1008, 101
100l2
1001, 100% 100i2 J'ne'13
1006, 101
1008,
1008,
100
1001, 100
J'ly '13
80
82
8H4 J'ly '13
99
975,
97i, J'ly '1^
98
J'ne'13
•97»,
99
971, "99"
J'ne'13j
9154
1957
1917
4H% Corporate stock
1957
4)4 % assessment bonda._1917
4H % Corporate stock
1954
N Y State—4s
1961
Canal Improvement 4s
1961
Canal Improvement 4s
1962
Canal Improvement 4s
1960
Bouth Carolina 4 His 20-40.-1933
Tenn new settlement 3s
1913
99
99
95», 100*4
995, 100*8
0758
97*4
9is4 9734
997, 105*2
2
20
10Q
102
KfO
98
101*4
981, 10U8
101*4
99
99
6s deferred Brown Bros ctfs
5054 Sale
162
9"9"
42"
69""
Railroad.
70
7il995 Q-J
g
4s_1995 A-O
*
.
831, J'ly '13
86
86i
87i2
85
841,
1st gold 5s
fill Sp Oca & G gu g 4s
Registered
20-yr conv 4 Ms
♦90
"
861,
89
871,
961,
107
89
88
J-J
M-N
112
..1934 A-O
100
1918 J-J
J-J
90
97
911, Sale
89*4
01i2 "24
89% J'ly '13
891,
90
"157
91*4 May'13
901,
91% 1137
Q-J
General gold 5s__
;__1937
Pitts Glev & Tol 1st
g 6s..1922
Pitts & West 1st g 4s_i__1917
Stat Isl Ry 1st gu g 4 Ms..l943
Buffalo R & P gen g 5s
1937
Consol 4 Ms
1957
"fid" Safe
92
Sale
100
10H,
105"
ids"
J-J
_9<T
485,
iM7;
10254 105
103
105
4s_.1951
J-D
J-J
J-J
J-J
M-N
J-J
Registered
h 1987
Am Dock &
Imp gu 5s... 1921
Leh& Hud R gen
gu g 5s.l920 J-J
N Y & Long Br gen
g 4s..1941 M-S
Cent Vermont 1st gu
g 4s__rl920 Q-F
ti
17
no" 110%
102
Dec
11
90
90
100
00
Jan
12
Nov'05
May 11
9934 1013,
1121,11938
11384 118*2
10314 105*2
J'ne'13
100
100
.
100% Jan
801,
85
86
let refund conv gold 4s
Bk City 1st con 5s__
BkQCo&S con gu g 5s__1941 M-N
Bklyn Q Co & S 1st 5s...1941 J-j
Bklyn Un El 1st y 4-5s___1950 F-A
13
1001, 100*2
85
83
Havana Elec consol
g 5s
J-J
99
A-O
81%
1879-1929 A-O
1921 A-O
.1933 M-N
deb 5s
IIII "96
A-O
J-J
J-J
M-S
...
98»4
93
1033, 103*,
9684 991,
—
—
97
93
"9734 97"S
28
99*4 100*1
903, 96l«
80
70
"I
107
4
97
108
9734 Feb
98
97*4
100* 1051",
Sale
72
71
77*«
1161, 125
72
721,
116*2 J'ly *13
108i4 10514 Feb '13
90i2 955, Apr 11
115
120
85
J'ly
86
...
....
91
90*4 Aug 12
Dec
104
9934 100
92*4
9134
9234
98*2 Feb '13
801, J'ly -13
86
Sale
11
99*, J'ne'13
80*8
88
105*4 105*4
12
21
97
87
88
1011,
1021,
101*4 1021, 1015, J'ne'13
209
993, Salt
993,
C9i2
May'13
1001, 1017, 103
101
1043, May 13
10U, Sale lDli,
102
211
bale
100
86
110
82
J'ne'13
81
110
"9584 "96
166"
110
1021, 102%
104%
109%109%
100
100%
101
12
Jan
103* 105%
951,
13
96
8U2
85%
84%
92%
98%
104
J'ly '13
101
96
84
96
J'ly '13
1ID4 -NoVTl
10934 Aug' 12
104
May'13
1045, Oct 12
104l2 101
96
78%
84*4 Jan *13
106i2
1051,
1041,
94
100l2 101
106
110%
1025, 10314 10314 J'ly -13
9U, 93
95i2 May'13
8II4
106*,
1041,
997,
1046,
85
109
96
9914
104l4 1061,
IOH4 10514
1001, 1021, 1021, Apr '13
1017, bale 1017,
1017,
1057, 107*4 1094, Feb 13
100
May'13
100*8 Aug
100
103
1001, J'ne'13
106
J'ne'13
93
85.;
'86 " "91^
100
88
1057,
91
981|
79
13
1017, Sale
88
991, 100^4
90S4 99 j
J'ne'11
105
Dec '12
98
997,
103*
107%
1001,
10034 J'ly -13
107*4 Aug'11
160%
Il4~U
117
li?" 121%
691,
J'ne'13
901, Sep 'u9
691,
M-S
109
107
107% 112%
107%107%
114% 114%
1131,113%
88% 94
U4i, Feb '13
1131, Mch'13
88
90
881,
88*2
115
1061,
J'ly 11
1051,
1081, Mch'13
1031, Sale 103*,
103*2
109
106
Aug 10
"864, bale 86I4
89
1091,
8
108% 108%
103% 106%
"io
84"
A-O
79
Sale
781,
79
78
1932
J-J
"60
89
78
SaK
75
79
Coll trust Series L 4s
P 4s
42
72
90
1918 M-N
49%
63%
66%
64%
87%
...1988 J-J
'
1030 J-D
Debenture 5s
1930 M-S
Ch St P & Minn 1st g 6s
1918 M-N
'North Wisconsin lst'6s_'__1930 J-J
St P & S City 1st g 6s....1919 A-O
Superior Short L 1st 5s ggl930 M-S
ChiciSc West Ind geng 6s__gl932
50-year 4s
on
Next
91,
1914 M-N
Chic R I & Pac RR 4s....2002 M-N
Registered
....2002 M-N
R 1 Ark & Louis 1st
4^8.1934 M-S
1952
n
95"
581, Sale
Dec
100
65
587,
635, Jan '13
268
*13
86
107i2 May'13
104
loo
107%108%
I05I4 Sep '11
997,
Ma~y'l3
997,ioo%
102
100
Jan '13
106
94
97
95
J'ne'13
95
797,
89
81
J'ly '13
J'ne'13
81
1131, 115i4 115
89*4 Dec '12
~»8*; Sale 9834
987,
113
115
119i, Feb '13
113
ifisu
115
36
107i2 J 'n~e"'l3
841, J'ne'13
98
89
120%
1201,
106" 109%
98
1061,
106
98" 102%
119
1295a May'09
106
J'ly '13
87
106
"94%
12
97*4 Sep '11
9434 j-ne 11
87*4 Feb
98
82
84
965,
77
mi
mm mm
68
82
68*4
93
76
Sale
ApriL_
Apr '12
J'ne'13
95
May'13
75%
--
----
,
« Due
76%
Majr.
98
101
9914 101%
99% 10is4
81% 82
81% 86
mmmm
76
78
3
96
96%
"95% '99%
68
98
98
25
—
J'ly'13
68
89
102%
101
76% May'13
96%
96%
1017, J'ne 12
95% J'ne'13
98
4 Due
991, 103%
84% 923g
106" 107%
84
89%
Page.
2
68
75%
Interboro Rap Tr 5s Ser A.1952 M-N
Manhat Ry (NY) cons g 4s.1090 A-O
Stamped tax-exempt
Metropolitan Street Ry—
Refunding gold 4s
1990 A-O
""
Col & 9th At 1st gu g 58..1993 M-S
Lex Av & P F 1st gu g 5s_1093 M-S
Third Av RR cons gu 48..2000 j.j
m>m
-
326
Third Ave Ry 1st g 5s
101
98
98
71
81%
Minneap St 1st
cons g
.A Due July,_A Due>V««
5s
.1919 J-J
Duo Get.
31
102% 104%
86%
87%
May'12
62% Jan *13
59% Mch 12
95%
62%
64
62%
101
100
98%
...
101
100
09
99
99
07% May'13
74
J'ly 12
74% J'ly '12
74
1937 J-j
95
# Due June.
50
Central Trust Co certlfs.
Cent Tr Co ctfs stamped
Met W S El (Chic) 1st g 4s_1038 F-A
MilwElec Ry& Lt Consg5sl926 F-A
Refunding & exten 4)$s—1931 J-J
"*
104%
88
J'ly '13
88% J'ly '13
87%
88%
2002 A-O
"98"
•
104% Sale 1045,
Farmers' Loan & Tr ctf
Stamped
Bway & 7th Av 1st c g 5s_1943 J-D
102% 104
....
1
106*2 106*1
13
Refunding gold 4s__.___.1934
Registered
j
119
100
109l2 io/ij Jn'e'13
1011, 1071, 10714 Feb '13
1088 J-J
85**|
933,
93
---
82l4
107
F-A
1917 J-J
163*1
100
60
105" 105i2 J'ly '13
97
M-N
.1924 J-J
Registered
Consol
90
98
99% 99%
99% 100
J'ly '13
81% J'ly *13
96
m
Apr '13
101
99
1952 F-A
No price Friday; latest
this week.
98
101
M-S
j-D
454
101
98
1949 F-A
j-J
23
88%
100
1950 F-A
Nassau Elec guar g)ld 4s. 1951
j-j
Chicago Rwys 1st 5s
1927 F-A
Coun Ry & L Ist&ref
5g 4Rs '51 j-J
•
100*4 Sale 100%
877, Sale
87%
g 4s_1949 F-A
Stamped guar 4 4s
1951
Det United 1st cons
g 4 Hs_1932
Ft Smith Lt & Tr 1st
g 5s__1936
Grand Rapids Ry
lstg 5s._1916
1879-1929 A-O
1879-1929 A-O
1921 A-O
.
Street Railway
A-O
2002
J-j
1916-1941 j-j
Stamped guar 4-5s
Kings County El 1st
'Stamped guar 4s.
5s
Mil Spar&N W 1st
gu 4s. 1947 M-8
Northw Union 1st 7s g
1917 M-S
Winona & St P 1st ext 7s_1916 J-D
Chicago Rock Isl & Pac 68.1917 J-J
MISCELLANEOUS BONDS—Continued
Street Railway
Brooklyn Rapid„Tran g 5s. 1945
N
1879-1929 A-O
Cons 6s reduced to 3Hs
J'ly 13
„11334
May'13
104 " 10314 J'ne'13
100
it!
6a
CRIF&N Wlstgu5s.l921 A-O
M & St L 1st gu g 7s.__.1927 J-D
Choc Okla & G gen g 5s__ol919 J-J
Consol gold 5s
1952 M-N
Keok & Des Moines 1st 5s.1923
St Paul & KG ShLlst4Hs'41
Chic St P M & O con 6s__.1930 J D
Nov'11
,
pl987
6~8~"
98
17
10612 Jan '13
-F
Bur C R & N—1st g 5s...1934 A-O
Dec'11
97l2
107%
115
971,
97%
10934
99*4
9934
11334 Sale 11234
114
111%
102
109
IO6I4 IO6I4
85% Oct '10
Feb '13
82
1041, 10614
J'ly '13
Mch'13
Deo'11
96
64~
20-year debenture 5s
48
Mch 13
107
98
1987 M-N
Registered
IO714 110%
1081,1117,
38
j-j
j-j
1886-1926 F-A
Registered
1933
.Frem Elk & Mo V 1st 6s_.1933
Man G B & N W 1st
3Hs 1941
Milw& 8 L 1st gu
3^s..1,1941
Mil L S & West 1st
g 6s
1921
Ext & imp. s f gold 5s..1929
Ashland Div 1st g 6s
1925
9584
Jan '11
_
g
g 5s._ 1946
Mid Ga & Atl Div 5s_„_ 1947
Mobile Div 1st g 5s___.__1946
Cen RR & B of Ga col
g 5s_1937
Cent of N J gen'i gold 5s...1987
104*4
j-j
1913 J-D
General gold 4s
1047,
100*4
1105,
10254
IO6I4
pref income
Chatt Div pur mon
Mac & Nor Div 1st
f6%
46i2 Apr '13
Sale 1045,
107
..
103
J'ly 08
10714 J'ne'13
1081, J'ne'13
108
g 5s_.__pl945 Oct
pref income g 5s stamped
pref income g 5s
pi 945 Oct
stamped.
97
103" 110%
103
1068,
1945 M-N
961,
12
95*4 Mch'13
100
cons gu A 5s. 19 62 A-O
May'13
J'ne
j-j
7s..l915 Q F
1886-1926 F-A
Mich Div 1st gold 6s
1041, 104i2
I04i2
10314 Apr '13
Registered
....1945 M-N
1st pref Income g
5s___.pl945 Oct
2d
1061, 1061,
97
103
9014
103% 103%
91
"91"
J-D
M-S
Sinking fund
101
j-j
j-j
1919 j-j
1921 j-j
.1920 J-J
1.987
8»*;
100
j-'j-
84*4
931,
88
99
100
ti
cons
Registered
General gold 3)^8
Registered
9014
lu6i, Mch'13
102U J'ne 12
A-O
Registered
..1962 A-O
Central of G a 1st gold
5s__pl945 F-A
2d pref income
g 5s
871,
Apr 13
8484
87
107
J-D
J-J
J-J
Apr 13
925,
J'ly '13
92
70
1081,
1913 J-D
821,
861,
977,
97
J-J
J-J
1924 j-j
4
971,
88
891,
9U,
88*,
72
1917 J-J
4s Series C
Extended
100
928, Sale
1937 M-N
Sinking fund
Registered
Sinking fund
Registered
Debenture 5s
91*4
90*2
103i2 Apr '13
106i, Apr '12
113% Feb '12
loo"
96
86"
May'13
83
8234
871,
93
General 4s
88
J'ne' 13
98"" III'
g 5s
Wig Vail Div 1st 6s
M11& No 1st cons 6s
Jan '12
86
83 U
87i2
M-N
A11& West 1st g 48 gu..
1998 A-O
CI & Mah 1st gu
g 5s.__.1943 J-J
Roch Sc Pitts 1st gold 6s..1921 F-A
Consol 1st g 6s
:__1922 J-D
Buff & Susq 1st reg g 4s
dl951 J-J
2d
Oct '12
112
82
A-O
9212
93
.
851,
86
L
51*2
9634 J'ne. 13
93
J'ly 13
12
965, SeD
9734 May* 13
Chic & Nor West
Extension 4s
86*,
....
...1927 M-N
1921 M-S
925,
lOoio 101*4
103*8 Feb ' 13
Far & Sou assum
g 6s
La Crosse & D
1st 5s
Wis & Minn Div
10634
1231, J'ne 12
1106, May'11
"911,
1922
95
105
T-"
~88% "19
88%
82
2d
05
-
Aug 12
A-O
P Juncfc M
DiVlstg3Msl925 M-N
PLBitW Va Sys ref 4s__1941 M-N
Bouthw Div 1st gold
3^s-1925 J-J
Cent Ohio R lstcg4
0M
Ms—J930 >S
CI Lor & W con 1st
g 5s
1933 A-O
Monon River 1st gu g 5s
1919 F-A
Ohio River RR 1st g 5s.._1936 J-D
5s
Oct '06
107
94i8
985, May 13
825,
8388
f
86*4 Aug 12
95
J'ly ' 13
98*4
Gen
(wh tss)
.e 1989
Ghie & L Sup Div
g 5s
1921
Chic & Mo Riv Div
5s...1926
Ghic & P W 1st
g 5s
1921
CM & Puget Sd 1st
gu 48.1049
Dak & Grt Sou
gold 5s___1916
Dubuque Div 1st s f 6s._.1920
93*",
103*, 103*8
87
95*4
51*2
Registered
el989 J-J
25-year deben 4s_.
1934 J-J
Convertible 4 j^s
1932 J-D
Convertible4
s
(whissued)..
1056g
107
21
55
99s4
827, sale
83S4
1001,
991,
79
851,
'13
i05i2
Ind & Louisv 1st
gu 4s___1956
Chic Ind & Sou
50-year 4s
1956
Chic L S & East 1st 4
Hs... 1969
Chic Mil & St P terml
g 5s__19l4
Gen'i gold 4s Series
A__.el989
Registered
el989
Gen'i gold
Sj^s Ser B__.el989
927, i038g
85*, 92
96U 100*2
J'ly
51*,
Registered
.
0912
11
10
64
98
Chic & Ind C
Ry 1st 5s
,1936 J"-"J*
Chic Great West 1st
4s._. 1959 M-S
Chic Ind & Louisv—Ref
6s 1947 J-J
Refunding gold 5s
1947 J-J
88
98
Oct
64
F-A
Pur money 1st coal
5s....1942 F-A
105*4
"92"
13
106*4 Feb '13
95
88I4 Sale
91
89
98
86
J-J
105
Consol gold
Feb
108
95
93
|
Mch '13
82
....
J-J
J-J
1940 J-J
1949 J-J
Registered
86
83
87
J-J
See Great North
Debenture 5s.__._L
1913 M-N
General 4s
...1058 M-S
Chic & E 111 ref &
imp 4s g_1955 J-J
1st consol gold 6s
...1934 A-O
General consol 1st 5s
..1937 M-N
98
991, 100
M-N
A-O
89
Registered
;
Southwestern Div 4s
88*4
93
1031, Feb '13
Sale
102"" IO384
M-N
j"-"j"
f^anada Sou
^
9714
98i4
995,
J'ly "li
J'ly '13
87i2
j'ly '13
92
1011,::::
1933
-
Pitts June 1st gold 6s
11
"24
85
92" "
98
__Jil948 A-O
JilU4S Q-J
...
84
998,
99%
M-S
BaitRegistered
& Ohio prior 3 Ms __hl925
1925
Gold 4s
Mch'13
971,
96U
98i, Sale
99i, Sale
1962 M-S
B Fe Pres & Ph 1st g 5s__1942 M-S
Chic & St Louis 1st 6s
1915 M-S
Atl Coast L 1st gold 4s.__7il952 M2
:-s
Registered
/jl952
▲la Mid 1st gu gold 5s
1928
Brans & W 1st gu gold 4s. 1938
Charles & Sav 1st gold 7s_1936
L & N coll gold 4s
..01952
Bav F 4W 1st gold 6s
1934
13
99i2 May'13
J-D
707g
98*8
83
"97" "98"
1928 M-S
.1958 J-J
021,
921,
921, J'ly
1913 F-A
1917
86
95
-
86
♦
Cal-Ariz lst ,& ref 4)4s
,
04
70
9312
....
Conv 4s issue of 1909
1955 J-D
Conv gold 4s
1955 J-D
Conv 4s (issueof 1910)___1960
«I"D
East Okla Div 1st g 4s
Short Line 1st 4s gold
70% J'ly '13
947, sale
Registered
1995 A-O
Adjustment gold 4s_____ftl995 Nov
Registered
hl995 Nov
Stamped
__Jil995 M-N
i0-year conv gold 5s K
lebentures 4s Series
75
80
....
;
110
*911, 101*
88i2 Oct .12
:01S4 Mch '13
8434 Jan '13
86
J'ly 13
96
Refunding
'99"
90
Apr '13
861, Dec *11
48
52i4
11II "89"
....
9812
102
13
85*8 Feb
*85
Joint bonds.
86
101*2
87
High
95
103
...
....
Iowa Div sink fund
5s...1919 A-O
Sinking fund 4s
1919 AO
101*4
8O84
97
J-D
Low
103
Nebraska Extension 4s...1927 M-N
105*2
100
F-A
j
Jan. 1
No.
High
\
Since
11
06
J'ly 13
104i2 J'ly '13
1093, Nov '12
*94 " Safe' 931,
94
£
991, Mch '13
80"" Sale 7934
80
V
1989 J-J
Div 4s
or
Ask Low
98
103i4
1989 J-J
Registered
1031, J'ly 'JO
Virginia funded debt 2-3s__1991
A nn Arbor 1st g 4s
•a-tch Top & 8 Fe gen
Illinois
0/ $6 lo £
100
92
92
83*,
the b asis
on
951,
997,
Sale
9H4
13
8478
v rices
958, Sale
4% Corporate stock
1959
4% Corporate stock-_._L.1958
4% Corporate stock—
1957
95
921, J'ly -13
85
May'13
81
are
100
100
9434
96
Range
Last Sale
J-D
J-J
1946 J-J
Greenbrier Ry 1st gu g 4s_1940
Chip & Alton RR ref g 3s..1049
Raihcay 1st lien 3#s
1950
Chic B & Q Denver Div 4s_1922
Illinois Div 3^8
1949
Registered
1949
835, 9036
82*s 89*4
75*, 83
99i2 102*2
941, 97*4
96*, 971.
—
•
87%
867,
Week's
Ranot
Bid
Potts Creek Br 1st 4s
R & A Div 1st con
g 4s
2d consol
gold 4s
99*8
91
State and City Securities.
N Y City—4
^_19G0 M-S
4Kb temp rects (w i)
1963
.
9954 103*8
98
These
•
100%
aefautted bonds.
Friday
1929 j-j
Registered
Convertible 4 *4s__
1930
Big Sandy 1st 4s_
1944
Coal River Ry 1st
gu 4s. .1945
Craig Valley 1st g 5s
1940
ana
July 25
„_1939 M-N
....1992 M-S
1992 M-S
General gold 4*^s
income
Price
S;
li
1930 M-N
Registered
102% 103*2
101% 10334
12- 11012 114i8
16 110
114i2
46
"26
STOCK EXCHANGE
Week Ending July 25.
1st consol gold 5s
101%
88%
t
?:
4Hs
9934
98
96%
1
5s exten debt- M
4^8..;
BONDS
Y.
Chesapeake & Ohio—
Gen funding &
impt 5s
High
96S4 1011«
;
External loan 4^s
1049 FBan Paulo (Brazil) trust 58-1919 J
Tokyo City loan of 1912 5s____ M
XJ S of Mexico s f g 5s of
1899
Gold 4s of 1904.
1954
New
New
Low
N.
t
1925 J1931 J
,
High
9634
971,
96»4 98
J'ly '13
102
10212 1021, J'ly '13
102% Sale IOIS4
1028g
110
111
110i2
llUa
110
Sale 110
11U2
96
100% J'ne 11
*1918 Q-F
1925 Q-F
Bterllng loan 4s
Republic of Cuba
Range
96
*1918 Q-F
Series 4 y2s
Jan. 1
96*4 Sale
XJ S 4s coupon
_____1925
XJ S Pan Canal
10-30-yr 2s *1936
XJ S Panama Canal 3s
g._.1961 Q-M
2d
Since
Last Sale
Bid
U S 2sconsol registered. _dl 930
Q-J
XJ S 2s consol
coupon.
dl930 Q-J
__
Range or
_
STOCK EXCHANGE
Week Ending July 25.
C S 3b registered
XJ S 3s coupon
XJ S 4s registered
Week's
Friday
July 25
Y.
.
Exchange—Bond Record, Friday, Weekly and Yearly
1900 the Exchange method 01 quoting bonds was changed, and orices are now all—"and
interest"—excent for
BONDS
_
K,
1
84
Nov
95
103%
99
07%1O1
12
102%
102%
93% J'ly 06
92
5
102% 107%
101
J'ne *13
100%
101*
91
Apr '13
91
91
102
100% 1021,
Nov'12
Not. ..f Due Dee.
eQpttwi wkk
Jtjly 26
BONDS
if fe
Week's
Range or
Since
Last Sals
Jan. 1
1st
J-J
M-N
M-N
J-J
J-J
J-J
J-J
J-D
J-J
1939 J-J
1959
1941
lstgu4sg_1923
Cin 1 & W 1st gu g 4s
1953
Day & Mich 1st cons 4 Hs_ 1931
Ind Dec & W 1st g 5s
1935
1st guar gold 5s
1935
Cieve Cin C & St L gen 4s
1993
20-yr deb 4J^s__
1931
guaranteed 4s
Cin D &
1 1st gu g 5s
Cairo Div 1st gold 4s
1991
1990
Registered
1990
Spr & Col Div lstg4s__._1940
W W Val Div 1st g 4s_;
1940
C I St L & C consol 6s
1920
St L Divlst coll tr g 4s
1st gold 4s
Cin S & CI
con
1st g
C C C & 1 consol 7s
J-J
1934 J-J
1940 A-O
t/1938 Q-J
W 1st pref 4s
&
O Ind & W 1st pref 5s
con 4s
89
1st lien
Consol gold 4 Ms
Improvement gold 5s
1st &" refunding 5s
Rio Gr June 1st gu g 5s
Rio Gr So 1st gold 4s
Rio Gr West 1st g 4s
•
1939
Mtge& coi trust 4s A
1949
Utah Cent 1st gu g 4s.al917
Des Moi Un Ry 1st g 5s
1917
Det & Mack 1st iien g 4s
.1995
25«4
»ll2
89
947S
91%
90%
94%
13
1015# 10414 104% J'ly '13
lOO"
J'ne"13
108
..
101% 103%
104%105%
Mch'12
90
108l2
104% 108
10
U13g Dec
83
108
Spring Div 1st
111%
J-D
A-O
M-N
J- J
J-J
J-D
F-A
J-D
J-J
102% Feb 03
110% Mch '13
149
Aur'01
"96" " "96%
9534
98
97
99
02%
9312] 93%
85
"98 "
97
101%
93%
85
99%
83
88*4
121% May'12
81%
81%
80%
90
81% Sale
90
85
85
84%
Dec '12
109
IIII "77"%
95%
99
67
J'ly '13
70%
69% !
70% Sale
~89%
90
"85" IIII
J-J
A-O
A-O
M-N
J-D
iiosi
95%
96%
J'ly '13
93%
85
Sale
113
110%
61% Apr '11
80
Sale
80
63
71
78
Apr '13
97
110
Sep '04
79%
85%
78
81
J'ne'13
84
88
82
J'ne'13
82
82
97
99%
N Y L E & W 1st
con g
g
M-N
M-S
M-S
A-O
J-D
fd 7S..1920 M-S
4s prior
Registered
1st consol gen lien g 4s
Registered
Penn cod tr g 4s.
1996 J-J
1996 J-J
1996 J-J
1906 J-J
1951 F-A
60-ycar conv 4s A
1953 A-O
do
Scries B
1953 A-O
Buff N Y & Erie 1st 7s.._1916 J-D
Chic & Erie 1st gold 5s___1982 M-N
5s__1038
Long Dock consol g 6s
1935
Coal & RR 1st cur gu 6s_.1922
Dock & Imp 1st cur 6s
1913
N Y & Green L gu g 5s
1946
N Y Sus & W 1st ref 5s...1937
Mahon Va
g
gold 4 Hs--
General gold 5s
:
Terminal 1st gold 5s__
Mid of N J 1st Cxt 5s.
J-J
A-O
M-N
J-J
M-N
J-J
1937 F-A
1940 F-A
1943 M-N
1940 A-O
1942
Ev & Ind 1st con gu g 6s
1926
Evans & T 11 1st cons 6 s
1921
1st general gold 5s_
;
1942
Mt Vernon 1st gold 6s
1923
Sull Co Branch 1st g 5s___1930
UMorida E Coast 1st 4i^s__1959
U ort St U D Co 1st g 4^s_1941
Wilk & Ea 1st gu g 5s
Ft W & Rio Gr 1st g 4s
J-D
J-J
J-J
A-O
A-O
A-O
J-D
J-J
i928 J-J
( ^ reat N ortbern—
V* CB & Q coll trust4s
!1921 J-J
Registered k
1921 Q-J
lst&refunding 4Jisser A 1961 J-J
Registered
1961
1st consol
gold 6s
1933
Registered
1933
Reduced to gold 4)£s_1933
Registered
1933
100
100
Mar'13
106% Mch '08
Feb '11
103% Feb '13
110
Aug'12
U334 109% J'ly '13
101% J'ne'll
103
Feb '13
103% 103%
>—
101%
110
m
90
88
Sale
109%
101
115"
103" 103'%
85
72
104% 108% 106
100
105% 109
....
124% 122
107% 106
Apr
"90 "
85%
66
82%
65
77%
'12
ioo" 111"
Apr '13
May '12
122" 124""
J'ne'13
100"% 100"%
96
87
100
J'ly'13
98%
....
•
<m
<mm
106
105
105
'98 " "99""
May 12
J'ne'13
105" lid"
98%101%
101% J'ly '13
108
Nov'll
95
J'ne'12
J'ne'13
94% 95
92
Aug 10
100
—
-
72
98
94%
93% J'ly 13
97% J'ly '13
97%
96
95
J-J
94%
....
J-J
J-J
J-J
J-J
118%
>
....
(2
93
96%
96
92%
97
100%
96
96
93%
J'ne'13
93% J'ne'13
118
J'ne'13
Registered
98%
118
124%
118
119%
99% 104%
30-year adj inc 5s
al942
A-O
95%
85
434
72%
51%
88%'
M-S
63%
57
52%
93%
91
71
653s
Jan '13
101
95
A-O
J-J
Mch'13
95
96
79
72%
443
63%
90%
97%
2
96%
Ms
-..1933
J-J
..1948
Union Elev (Chic) 1st g 5s_1945 A'-O
United Iiys inv 1st iien coll
trust 5s Pitts issue
...1926 M-N
Income 6s.
G*
84
"89%
~
No prica Fr'-Dy; Lateit
bid and iuked UiD week,
64
84
96
9634
92% 90% J'ly 13
102%
102% 102%>
Mch'13
98% 97
100% 104% J'ne'12
101% 104% 100% J'ne'13
104% May'12
9334
93% IIII 9334
....
a Due
Jan.
May'13
HI
106
111% Dec '11
105% Mch'13
100%
J'ne'12
93
80
101% Feb '10
12
103
107
101
Men
107
Mch'l3i
96% .Mch'12
"85% "88
*13l
J'ly
86
12
96% Nov
100
97
99% Get '06
85
84
86
=
J'ne'13
104% Dec '08
IIII r~90
90
J'ne'13
05
Jan
*98 ~ III
110
Nov '06
103
Jan '13
*11
98
...
98
104
104
Apr '13
95
93
Feb '13
....
11034 112
110% J'ne'13
106
111
92%
92% Sale
I
M-N
J-D
Mch'13
92%
93
105
38
96% Sep '12
10638 Mch '13
105
J'ne'13
«
IOO"
106%
M-N
99
10434 May'12
J-J
J-J
111
120% Mch'13
108
114% Feb '13
91
J'ne'13
Paducah & Mem div 4s...1946 F-A
1920 M-S
1921 M-S
•00
M-S
J-J
M-S
...
105% Mch'13
1053s
1083s 110
109
87% J'ly '13
111
Jan *13
88
103
106
101
-
im
-
m
88
85%
82
95
100%
....
82
Feb
05
109% Oct '12
101% Jan '13
J-J
1921 F-A
1936 F-A
1945 M-S
Apr '11
88% J'ne '13
102% lu3% Feb *13
95
J-J
£i
J'ly *13
12
69% Sep
60
62
1980 M-S
ldendqr Bdge 1st s f g 6s..1931
Kentucky Cent gold 4s
1987
L&N & M& Mist g 4^s 1945
L & N-South M joint 4s..1952
Registered
hi952
N Fla & S 1st gu g 5s
1937
N & C Bdge gen gu g
i945
108"% lio"
110% Oct '12
109%j'ly '12
"83"% "88%
91% Mch'12
Railway
J-J
69
A-O
65
7
A-O
56% Sale
t
J-J
J-D
M-N
95%
87
93%
7 A-O
55
56%
93
95
103
102
55
54
j'ne'13
99
J'ne '13
0 Due
71
16
May'13
100%
102
..
.
J-J
90%
1
J-J
98S4
S
F-A
1
J-J
2
9
5
J-D
F-A
83
Feb. d Due April,
2 A-O
14
103
___
99%
....
99
....
107
95% Sep
08
99% J'ne'13
97
12
....
106% Oct
100
Feb
101
2 M-S
9 M-N
....
73% Mch'13
72
May 13
Gas and Electric Lixht
Oct '08
J'ne'13
May'13
90
100
Oct
'09
101% 102% 101
'■
71
19
102
J-J
J-J
76%
99%
92%
92% J'ne '13
87% J'ne'13
88%
64
IIII "97"
1937 M-N
1940
Collateral trust gold 5s
.1931
E Id & Nash 1st g 6s_;
1919
LCin& Lex gold 4^s
.1931
N 0.& M lstgoid 6s
...1930
NO&M 2d gold 6s
1930
103% 103%
77% 82%
69
96%
69%
M-S
*..1/1940
NOV'08
78%
95
....
A-O
Registered
101
71% Sale
al960
1
70% J'ly '13
63
Oct '00
1950
60%
54
7834 Sale
•
95
1930 J-D
Pens & Atl 1st gu g 6s
S & N Ala con gu g 5s
1
103
Sale 103
88%
79
101
103% Feb *13
May'13
92
100
103.
7
26
A-O
Adj Inc 5s
Tri-City Ry & Lt 1st s f 5s_1923 A-O
Underground of London—
92% Aug '12
J-D
8534
St Paul City Cab cous g 5s_l 937 J-J
Third Ave 1st ref 4s
.I960 J-J
4
M-N
j
St Jos Ry, L, II & P 1st g 5s 1937 M-N
"81 " IIII
BONDS—Continued on Next Page.
98
101
Portland Ry 1st & ref 5s
1930 M-N
Portland Ry Lt & Pow 1st
& ref conv s f 5s...
1942 F-A
Portland Gen Elec 1st 5s.1935 J-J
Feb '11
Oct '09
"85" "95"% "98" J'ly"'08
5s_ol932 Q-J
1927 M-S
L & Jeff Bdge Co gu g 4s
8534 Feb '13
75
114
90
Louisiana & Ark 1st g 5s
Louisville & Nashville—
General gold 6s
Gold 5s
10
12
J'ne'13
104
J-D
Railway
74%
....
Atl Knox & Cin Div 4s...1955 M-N
Atl Knox & Nor 1st g 5s
1946 J-D
J'ly "13
117% 118
100%
100% 101% 100%
108% J'ne '09
7434 Sale
55% Sale
100
J-D
"72" ~76%
115
83%
" III.
MS
J-J
St Louis Div 1st gold 6s
2d gold 3s
;
151
May"
117%
94% J'ly
102
1949 M-S
1949 M-S
Unified gold 4s
Oct"'12
' Feb"'13
94
90
86
105"" III!
N Y B & M B 1st con g 5s_ 1935 A-O
N Y & R B 1st g 5s__.__.1927 M-S
Street
Street
J-D
J-D
J-D
J-D
"94" ~96%
MISCELLANEOUS
New Orl Ry & Lt gen 4 %(s.l935 J-J
N Y Rys 1st R E & ref 4s 1942 J-J
85%
101% Oct *99
100
Nov'00
u
Pensacola Div gold 6s__
Mar'13
93%
76% Mch "12
75
....
1032 J-D
1949 M-S
1934 J-D
1
94% Sale
---«
107% 108
111% May 12
98
Mch'13
*65"" "70
....
101%
35" "87"
Apr '13
108
100
96"
107% Feb '13
100
70
70
1938 J-D
1922 M-S
Unified gold 4s
Debenture gold 5s
Guar ref gold 4s
con g gu
May *99
70
123
99
1933 J-J
4s
Nor Sh B 1st
Deo '12
100% Dec -06
90
82
12
75% Nov 12
May'13
83
Aug '12
81
84
....
1945 M-S
1914, A-O
1914 A-O
Long lsld 1st cons gold 5s_/i1931
1st consol gold 4s__
;/il 931
Gold
103% Aug 12
96
....
94% J'ly
84
M-S
1945
Ferry gold 4kg,
100% J'ne'13
l6f% 1*09" *
93% Apr '13
94% Jan
11
Registered
General gold 4s
72%
69%
110
109
79
94
IIII "75%
1941 A-O
5s_1933 J-J
1933 J-J
1st int reduced to 4s__
"76""
70%
72
73
70% Sale
12
89
79
89
Lehigh Vail (Pa) cons g 4s_2003 M-N
Leh V Ter Ry lstgu g 5s
1941 A-O
66%
Sep '12
J'ly '13
Apr'12
85%
87
77
IIII "85%
88%
7834
....
2d gold 5s_.
1941 J-J
North Ohio 1st gu g 5s
1945 A-O
Y 1st gu g 4^8.1940 J-J
Registered
1940 J-J
*87!'|
70
70%
95% Sep
88%
Leh Vail N
'82'"
86
85%
93%
77%
El C & N 1st pref 6s_.
Gold guar 5s
115% J'ne'12
84
" J'ly" 09
80
"93% May'13
97
-L'
Leh & N Y 1st guar g 4s
13
93% May'uy
Kansas City Term 1st 4s
1960 J-J
r ake Erie & W 1st g 5S...1937 J-J
Registered
;
Leh Val Coal Co 1st gu g
Sep '11
88% Feb '13
88% Feb
1959 J-D
Apr
13
13
F-A
Kan City Sou lstgoid 3s__1950
Registered.
1950
Registered
103" 103"
99% Oct *12
Mch'13
I02«i 103
100
Jan '12
100
Jamestown Franklin &
Clearfield 1st 4s
.
...
...
_
St Paul M & Man 4s.....1933
104% 104%
104
1937 J-J
g 5s
97
Apr 13
104% Mch 13
100
Apr
92% Apr
100
1923 J-D
Carb & Shaw 1st g 4s
Chic St L & N O g 5s
Ref & impt 5s
84
82
100
92
100% Deo 12
100
Mar'13
F-A
1951
....
"84"
9734
1951
1932
1951
Registered
1951
Gold 3Hs.___
1951
Registered
1951
Memph Div 1st g 4s
1951
Registered
1951
St L Sou 1st gu g 4s
1931
Ind 111 & la 1st g 4s
1950
lnt & Great Nor 1st g 6s
1919
Iowa Central 1st gold 5s
1938
Refunding gold 4s
...1951
Jan '08
82
1951
Registered
85
"98"
96% 100% Sep '08
...
J-J
J-J
1951
3Ms
Believ & Car 1st 6s
Mch'08
85
80
g
Western lines 1st g 4s
97
94%
-
io6% IIII
85
J-J
Registered
102%106%
94% J'ne'13
95
85
...
1021* 105% 102% J'ly '13
90
A-O
Registered
Cairo Bridge gold 4s
May 'lO
100% 10214 101% J'ly '13
10234 104
104% J'ne'13
M-S
M-S
1947
1919
3d ext gold 4,Wjs._
1923
4th ext gold 5s
1920
5th ext gold 4s__.____.1928
2d
92%
91%
1916 J-J
So Shore & At
Clev &
26%
92
9D4
93
9134
M-N
F-A
N Y & Erie 1st ext g 4s
2d ext gold 5s
v
36%
25
,
J'ne"'l3
85
" "98% 98"
.97
1952
1953 M-N
1953 M-N
_1950 J-D
Litchfield Div 1st g 3s
1051 J-J
Louisv Div& Term g 3Ms 1953 J-J
Registered
1953 J-J
Middle Div reg 5s
_1921 F-A
Omaha Div 1st g 3s
1951 F-A
Sib Louis Div & term g 38.1951 J-J
Registered
1951 J-J
Gold 3 Ms
..1951 J-J
Registered
..1951 J-J
49%
25
26
104%
91
4s_1951 J-J
..1951 J-J
1951 J-J
1951 J-J
1951 A-O
____1951 A-O
1951 M-S
..1951 M-S
1952 A-O
1952 A-O
1st ref 4s
35
26
136% May 06
105% May'13
J-J
Purchased lines 3 V^s
L N O & Tex gold 4s
26
J'ly
35
35
l"0'3% IIII
J-J
1955 M-N
89
79
26
35l2
■s
*79%
'79%
1937 A-O
_
6s
Erie 1st
" 120"
94"" J'ly"08
~79 " "82 "
Elgin1st consol gold 7s., 1920 M-S
rle Jol & East 1st g 5s_.194l M-N
.
1st g 3Ms
Registered
1st gold 3s sterling
Registered
Coll trust gold 4s
Registered
_
Registered
Du
120
Extended
110"%
121%
Dul Missabe & Nor gen 5s_1941 J-J
Dui & Iron Range 1st 5s
1937 A-O
2d
120"
...T
11
92% Mch'11
97
Sep 12
114% Sep 12
120
J'ne'13
gold
Registered
1st gold 3 Ms
Registered
110%
Mch'13
I Ilinois Central 1st
J
" "90"
107% J'ly 12
101% J'ne'13
85
Gold 4 s
1995 J-D
Det RivTun-TcrTun4Ks-19Gl M-N
_
104% 105%
90
....
3
92
J'ne
98
104%
1955 F-A
1937 J-J
Hous Belt & Term 1st 5s
Mch'13
90
...
119
J-J
J-J
_1948
Col& H V 1st ext g 4s
Col & Tol 1st ext 4s
11
Apr '12
104% Mch'13
97% Nov 12
124
.
Dec
IIII ~97
120%
No.
High
92
93%
95%
108
&19o2
Hock Val 1st cons g 4Hs._1999
Registered
..1999
'07
92
J-J
J-J
J-J
J-J
J-D
1938
Will & S F 1st gold 5s
Registered
Sat*
Ask Low
J-J
Gulf& S 1 1st ref & tg 5s. .61952
90
91
....
*
1940 J-J
Guaranteed
,
Oct
90
100
M-N
1946
1921
1936
1936
1928
1955
1939
1940
91
J'ne'13
II"
100
1943 M-N
Alb & Sus conv 3^s..
Rens& Saratoga 1st 7s
Denv & R Gr 1st con g 4s
89%
87
89%
881*
.1922 J-J
equip g 4Ms
1st & ref 4S_
89%
90
104%
1915 J-D
1915 J-D
2000 J -D
N Y Lack & W 1st 6s....1921 J-J
Construction 5s.
1923 F-A
;
92%
92
Registered
1st ref gu g 3 Ms
Registered
10-yr conv deb 4s
92%
BUt
J-J
A-O
—1937
1937
I037
Registered
1st guar gold 5s
Registered
Dec '12
91
lstconso. guar 7s
1923
2000
1917
1917
1916
100%
90%
90
I
"98"%
88%
90
781*
80
ext guar 4s £
1940
E Minn Nor Div 1st g 4s 1948
Minn Union 1st g 6s_.*_1922
Mont C 1st gu g 6s__
1937
"86% "86%
89% Feb '13
87
_
improve 4s
Warren 1st ref gu g 3 Ms
Del & Hud 1st Pa Div 7s
(Continued)—
Mont ext 1st gold 4s
1937 J-D
Registered
1937 J-D
Pacific
107% Dec '02
90% May'13
8934 May'13
90
Mch'13
82
1940 A-O
income4s
1990 Apr
Col Mid and 1st g 4s
1947 J-J
Trust Co. certfs. of deposit-.Colorado & Sou 1st g 4s
1929 F-A
Refund & ext 4 Ms
1935 M-N
Ft W & Den C 1st g 6s.-.1921 J-D
Conn & Pas Rivs 1st g 4s._1943 A-O
Cuba RR 1st 50-yr 5s g __1952 J-J
Term &
High
Range or
Last
July 25
oat
St P M & M
11
8684 Feb '13
90
....
Peo & East 1st
Del Morris &Westernel Lack &
Essex lst7s_1914
Mch
88
83
103
M-N
*1936 Q-F
*1936 Q-F
5s_._1923 J-J
1914 J-D
Registered
98% Mch'13
...
....
sinking fund 7s_.1914 J-D
Consol
Ind B
80
M-N
M-N
M-S
J-J
General consol gold 6s__1934
Low
We(k\
Friday
EXCHANGE
July 25
STOCK
Week Ending
"88% J'nV'12
97
95
,
Registered
91%
87
....
J-J
Cin W & M Div 1st g4s
No.
Y.
N.
101% 100% Oot '12
1959 J-J
C Find & Ft W
Range
High
Ask Low
Bid
1937 J-J
Cin H & D 2d gold 4^s
1st & refunding 4s
Price
BONDS
Price
Friday
July 25
fcS
Y.
STOCK
EXCHANGE
Week Ending July 25
N.
225
Record—Continued—Page 2
New York Bond
1913.]
94
13
J'ly '13
98% Sep
12
h Due July, k Due Aug. 0 Due Oct. s Option sale.
236
New York Bond
a*
BONDS
<
N.
Y.
STOCK EXCHANGE
Week Ending July 25
,
Price
1!
5a.
Weeks
Friday
Last Sale
Ask Lots
High
Jan. 1
<53
Lots
No
High
N
exican Cent Inc g 3s tr rects
g 5s
1917 A-0
"25i"g Apr" 09
Mex Internet 1st
con g
\ Pacific Ext 1st gold
1921 A-O
1934 M-N
100
108
124i2 Oct '12
HOigAuf'11
87
88
88
88
88
1949 M-S
6s.
Des M & Ft D 1st gu 4s
MStPASSMcong4sintgu
(
1st Chic Term l
"77" McV'lO
iio ~ I"
54
691*
56
56
54
79*4
967<B
91
1977 M-S
1st consol goid 5s
1st and refund gold 4s
1
76
1927 J-D
4s._1977 M-S
Stamped guaranteed
Minn A St List gold 7s
1935 J-J
1938 J-J
f 4s__
1941 M-N
MSS & A 1st g 4s lntgu.1926 J-J
;
'
\ 1st
Gen
F-A
'
70
81
♦
75
87
78I4 Apr *1
102
Apr *1
...
82
82
82
97
Sale
68'g
♦
91*4
70
81
90
1st extension gold 6s
General gold 4s__
Montgom Div
~79~
J-J
Bt L A Cairo coll g 4s
114
80
89
92
J'ly *13
107*8
102*4
102*4...
111
Jan '13
1051* Jan '13
113
J'ly '04
....
...
105
IO8I4
111
111
1051* 1061*
84
Apr '13
75
77
Feb '13
76i4
78
967g Feb '13
967g
967g
75
761*
100
64
~821g '88~l2
May'13
75
49»g J'ly '13
45
KO&NB priorlieng6s._pl9l5 A-O
47*4 481*
1001* 102
Sew Central & H R 1st3^s_1997 J-J
4s..1953 J-J
Y Orleanc Term
"81U
79i"*
791*
81
81i2
81i2
83
J'ne *13
9014
891*
A-O
J-J
....
g
'•»
Registered
....1997 J-J
1934 M-N
Debenture gold 4s
Registered
g 3 Hs
1993
Registered
__i._1993
Mich Cent coll gold 3^8-1998
Registered
1998
!
\ Beech Creek 1st
4
Registered
gu g 4s__1936
Registered
Beech Cr Ext 1st
\
76*4
F-A
90
J-J
g
87
86*4
871*
77
51
76*4
*13
9U2
"83"
A-O
J-D
J-D
M-S
F-A
"85"" in
87
R W A O con 1st ext 5s_.hl922 A-O
Oswe A R 2d gu g 5s
el915 F-A
R W A O T Rlstgu g 5s
1918 M-N
May *11
90
1922 J
108
J
_
90U
5s
86
J-J
J-J
86
A-O
J-J
no
110
1931 M-S
.1940
Registered
100
100
100l2
105
J'ne
101
1024*
12
110*1111*5
87*4
9114
lOU*
98
991* J'ly '13
110
99i2
9578
9614
961* J'ne'13
991*
995g
1001* 99U Feb '13
100
Sep '12
991* 991* J'ly '13
87
991* IOD4
Mch'12
991*
1
"99"" 1001*
137
957* 971*
961* 97
984* 1024«
9914 9914
"24
..
102
09"" 100*
Jan '03
lofig
May'12
102
921*....
100
J'ly'13
85
87
87
....
*95 "in
100
...
951*
Series C guar
Series D 4s guar..
89*8
92*8
92*4
91i4 Feb '12
901* (>ct '12
90
May 08
86i* J'ly -13
90i* J'ly '12
1011* Feb 13
109
May 10
102i* J'ne 12
102*8 Nov'12
'85 ' HI
g
98
106
971*
;
83*4
85*|
97
844*
8214
04
021*
J'ne
102"":
86if
861*
16l"ii fofi5
"95
95
101
10311
1011*
101
.
„
mm mm
11
mm mm
....
1957
....
~92~l*
rnmrnm
103*^
1932
1921
HH "95"
51921
.1955
..1965
92i* J'ne'13
90
Apr'13
95U Jan '13
97i* Jan 13
106
J'ne'13
106
108
106
mmmm
1949
1953 J-D
106
106
"50"
"911*
1921
100
Jan '13
96
90
9614
971*
9514
971*
64"" "54"*
61
547*
Get '12
1001* Apr '13
....
901*
921*
00
11
547* May'13
98
«•««>*
104
90
Pt Huron Div 1st g 5s
1039
Sag Tus A H 1st gu g 4s..l931
Philippine Ry 1st 30-yr s f 4s'37 J-J
Pi'-ts Sh & L E 1st g 5s
1940
1st consol gold 5s—
1943
Feb '13
93i* Jan
54
...1920
1939
1st consol geld 5s
95
104
101. Mch '13
9914 1051* 10U* May '13
....
1942
..1945
6s.
95
Sale
102
10214
Jan *05
102
J'iy '13
10212 1094* J'ly '09
100
95
Flint A P M
Feb
13
10012
95
ioo'ii
98
001* J'ly '13
901*
75" May'l3
....
76"" 83l4
^tJoA Gr Isl 1st
A-O
31 Louis A
961*
J'ne'08
83
!HI "87"
85
89
931*
941*
94*4
971* Jan »13
86l2
84
85
091*
971*
971*
831*
J'ne'13
89
1937 A-O
1011* 104*4
109
Dec
107
100
881*
10Us ] 101
991*
905s
...
95
92
93U
...
80" "j'ly "'13
83
....
1031 J-J
1931 J-J
St L A S F RR cons g
Gen 15-20-yr 5s
Southw Div 1st g 5s
105
105i4 108
J'ne'13
061*
95i2 J'ly'13
72i2 Sale
721*
72i2
53i* Sale
50*4
53l2
...
4s._1996 J-J
1927 M-N
1947 A-O
1951 J-J
1951
Refundingg4s
Registered
on
100
105
6914 Sale
105
721*
501*
Jan '13
100
69l2
80*4 Mch'll
....
11414
03
65
69
721*
8214
100
764*
Next Pace.
'ml ~88"i2
101
100
1021*
991* 102
88*8 90
]
1995 J-J
106
g 5s 1930 F-A
100
101
93
94
102
i
J'ly *13
]
1
J'ly '13
921* J'ly '09
....
99
a
928, 1
95
93
941* Mch'13
65
ioosj 163"^
82
86l2
1066* 1081*
991* 1011*
91
941*
96
94l2
1
Due Jan.
Peo Gas A O 1st con g 6s...1943 A-O
Refunding gold 5s......1947 M-S
Registered
99i* J'ne '13
88*8 J'ly 13
103
114
12
881* Apr '13
10U* Sale ]
8212 82
Friday; latest bid and asked,
1947 J-J
4s
02
93
—
9314
....
Gas and Electric Light
10U* 104i2
10914 113
: 109
1245s ] 22
1048 J-D
1949 F-A
Corp unify ing& ref 5s
1937 M-N
Srac Pow A Lt ist & ref
20-yr
L 6a Internat Series
..1930 F-A
yat A Passaic G A E 5s
.1949 M-S
....
106 .108
San Francisco—
General gold 6s
General gold 5s
May'13
84
g
Apr'13
II314 Nov '11
04*s
95
945* Sale
...
J'ne'06
83
82x4
851* 87
94ij Sale
108
Jersey Cent coll g 4s.....1951 A-O
Atlan City gu 4s g
1951 J-J
90
74
....
_
ill" Jan"'12
..
A-O
M-N
_
98
Apr'12
981* Nov'11
A-O
N Y A Rich Gas 1st
g 5s...1921 M-N
Pacific G A ElCoCalG A E
96
110
ex
ChA WM 5s
i
No price
921*
113" 113*
J'ne'13
...
Reading Co gen g 4s.....1997 J-J
Registered...
1997 J-J
119
1952 M-N
'
*
68
90
Jan '12
1001* 1026* 102*4 May'13
83*4
83*4 J'ly '13
83*4
85*8 J'ne'13
J'ne'13
963* .... 97
821* 88*4 843g J'ly '13
82i4 84i2 82U J'ly '13
93
95i2 94
May'13
92i2 Feb *13
1942
88
..
33
Purchase money 6s
..1997 A-O
Convertible deb 6s
1922 M-S
Ed El 111 Bkn 1st con g 4s_1939
J-J
Lac Gas L of St L 1st g 5s.el919
G-F
Ref and ext lstg 5s
1934 A-O
Milwaukee Gas L 1st 4s
1927 M-N
iNewark Con Gas g 5s
1948 J-D
;N Y G E L 11 A P g 5s
| Purchase money g 4s
Erd El 111 1st cons g 5s
N YAQE1L A P 1st con
65
Mch'13
101
102
1931
B
881*
Gas and Electric Light
A P g 5s
105*4 1054|
841* 95*,
911* 985*
911* 974*
631* 68U
1151s Aug '11
107
"96i* Sale
Int reduced to 3
.1942
Series C 33^s
.1948
Series D 3Hs
1950
Erie A Pitts gu g 3^s B..1940
Series C
1940
MISCELLANEOUS BONDS—Continued
Kings Co El L
113
103
...
911* Apr *11
rr07* mi 11078 Apr'13
86
87*4 87*4
87*4
9814 100
981*
0Si2
130ig Jan '09
123U Mch'12
..
.1951 M-S
20-year debenture 4s__.1929
N Y Ohic& StL
1stg4s..1937
Registered
1937
Debenture 4s
1931
104
85
94
1921
851*
841*
0Oi4
..
..
1940 J-J
J L A S 1st gold
3Hs
1st gold 3
85
105*4 Jan 13
841* J'ly '13
926g
04
93
911* J'ly -13
64
Sale
64i2
65
May'13
90
Apr'13
100i2 10U2 Oct *12
100
Guar 3Hs coll trust
reg_.1937
Guar 3 Hs coll trust ser B_ 1941
Trust Co ctfs gu g 3ks
1916
Guar 3 >6s trust ctfs 0
1942
Marquette—Ref 4s
Refunding guar 4s...
84i2 May'13
90i2
907g
90U
9012
93
Oct *12
90l2
9012
92
1921
Pere
1021* uoi2 llli* Mch'll
106
105
Apr '12
1931
4s
84
997g Nov '11
86
91
83
Sale
"88 " ~92~*4
.
McKees A B V lstg 6s._1918 J-J
.
00
83U
'09
ne
1934 J-J
2d guaranteed Gs
90
Sep '12
119i2 Mch'12
86
M-N
1127*
llll*
107
lOd" mi
U N J RR A Can
gen 4S--1944 M-S
Series E 3^s guar g._
Series F gu 4s g
Series G 4s guar
C St L A P 1st con g 5s
Peo A Pek Un lstg 6s_
2d gold 4Hs
108
...
....
1928 M
1931 M-N
l02" " IO6I4
Apr'13
8314 Feb '13
115
99
98
Series C 4s
.1942
PC OA StL gu 4^s A-. .1940
Series B guar
1942
Mcii '12
92
ldo"
99
104*4
"99~i* "9~9~^
Guar 1st g 4Hs
...
♦
1996 A
88
93
J'ly'13
Tol W VA Ogu4HaA___1931
Series B 4^s..,
1933
1051* 107
00
80
924*
I
1151* 1204|
103
_.
109*4110
1st gu g 4 Ms~1941
Pitts Y A Ash 1st cons 5s_1927
J'ly '13
....
1151* J'ne'13
104
~64i*
Alleg Val gen guar g 4s
1942 M-S
D R R R &
B'ge 1st gu 4s g '86 F-A
Phila Bait A W
lstg 4s—.1943 M-N
Sod Bay & Sou 1st g 5s...1924 J - J
SunburyA Lewis Istg4s.l936 J-J
Gr R A I
J'ne'10
104
82
1996 J-J
..1931
Ka A A G R lstguc5s
1938
Mahon C'l RR 1st 5s
1934
Pitts A L Erie 2d g 5s_..al928
Pitts McK A Y 1st gu 6s..1932
985s
"*09
102
1017g 107
10512 101
Lake Shore gold 3Hs_.
1997 J
Registered ............1997 J
Debenture gold 4s
25-yr gold 4s_
Registered
98*8
Oot *02
100
Rutland 1st con g 4Hs
1941 J
Og A L Cham 1st gu 4s g 1948 J
Rut-Canad 1st gu g 4s.-1949 J-J
StLawrA Adirlstg5s
2d gold 6s
Utica A Blk Riv gu g 4s
Oct '12
98*8 Jan '13
1311* Jan
...
I
olGIB J-D
1948 M-N
Registered..
Series
....
123
861*..,.
94
Sale
1942
977* Aug '11
liHig HI
13
1001* 101
CI A Mar 1st gu g
4^s__1935
CIA Pgengug4^sserA 1942
A
J-D
Jan
ol015 J-D
Convertible gold 3Ks
Guar 15-25-year g 4s
Cin Leb A Nor gu 4s
g
771*
08
871* Dec'12
91
,
123
120
123
1943 M-N
Consol gold 4s...
99U
100
118
89
Apr '13
1019 M-S
80
76
1:11107'ig 107"Feb"13
A
961*
100
13
Jan '11
85
1944
76
105
Apr '12
921*
88I4
....1923 M-N
trust ctfs D
..
*90"lg II..
85
1045g Sale 104
5s—1946
GuarSHs
98
88
"817g "83"l4
Mch'13
104
...
101
l2
ennsylvania RR—
8OI4
76
J ly '13
98
...
Mc"h"
Feb '13
85i2
J'ne'12
Feb '12
Apr
Sale
104
Wash Cent 1st goid 4s....1948
Nor Pac Term Co 1st
g 6a..l933
Oregon-Wash 1st A ref 4s..l961
Registered
May'12
99
2000 M-N
2000 M-N
A ~
Registered
N Y A Northern Istg 5s__1927
N Y & Pu 1st cons gu g 4S.1993
Nor A Mont 1st gug5s_.11916
Pine Creek reg guar 6s...1932
Michigan CentraRegistered
81
82
90
79U
79i4
78ig J'ly '13
106"" III:
.1986 F-A
N Y A Harlem g 3H»
.
16
"87"l*
771* May'13
Apr'13
76
F-A
1936 J-J
Registered
_
781*
F-A
87
9814
Aug'09
Pennsylvania Co—
May'13
1936 J-J
3HS-61951
Cart & Ad 1st gu g 4s_...1981
Gouv& Oswe lstgug 5s_.1942
Moh A Mai 1st gu g 4s
1991
N J June K guar 1st 4s
1986
,
93
"78*4 "7914
F-A
1936 J-J
•
2d guar gold 5s_.
f
89
1934 M-N
Lake Shore coil
1
Sale
"901^
110
85l2
08
Consol gold 5s
Consol gold 4s
101
60
....
....
J-J
100
110
39
121
93
1st real est g 4s
J'ne'13
105
8612
100
~88"u "88*4
1917
g
~90i4
Feb '13
118
....
..1968
pacific Coast Co 1st
I
301
119
.o2047
1st consol gold 4s
A
Nov'12
100
J-J
J-J
857*
1071* 109
857g Dec '12
.
105"" 106"
A-O
80
lQ7i2 J'ne'13
...
85
117U
112*4 112*4
J'ne'13
100
....1997
2d 5s
96
126
991*
83i4
851*
021*
89*8
977g
85i2
112
Registered certificates.. 1923
St Paul A Daluth 1st 5s..1031
82*s
96
997g:
1928 A-O
i
Jasper Branch 1st g 6s...1923 J
* McM
MWAAI 1st 6s...1917 J-J
Nat Rys of Mex pr lien 4 Ha 1957
Guaranteed general 4s
1977
Nat of Mex prior lien 4^s.l926
1st consol 4s
;
...1951
N O Mob A Chic 1st ref 5s_19G0
78
Jan '13
...
100
106
'771* "831*
114
Apr *13
11312 112*4 Jan '13
8U4
..1947 F-A
el930 Q-F
& P Branch 1st 6s.....1917
781*
7914
807g Oct '12
79*g
80i2
no" Jul*
J-D
1st consol gold 5s
t
100
1
107
115
851*
94
Registered
a2 04 7
St Paul-Duluth Div
g 4s..1996
Dul Short L 1st
gu 5s
1916
St P A N P gen
gold 6s
1923
90
93ig
101*4 103
Oct '12
96
Guaranteed gold 4s__...1931 J-J
^ashvilleChA StL 1st 7s 1913 J-J
» *
80
"80"U "81*4
M-N
M-S
..h1927 Q-J
..1938 M-S
1st g 5s
90
J'ly '13
101*4 J'ne'13
Sale 101
10278
104
1929 J-J
Registered
91*4
87
110
78
85
115
General lien gold 3s_.
"85 " "90U
102"7g
'777't '88
Moh '05
891*
881*
75
107
Pocah C A C joint 4s...1941
C C A T 1st guar
gold 5s.. 1922
Scio V A N E 1st gu
g 4S..1939
Northern Pacific prior 1 g 4s 1997
Dec '12
110
2d extended gold 5s
1938 J-,l
BtL Ir MAS gen con g 58.1931 A-O
Gen con stamp gu g 5S..1931 A-O
64" "7_0*i
651*
68X2
961* May'11
78
79ig
90
May'13
79ig Sale
....
85i* Sale
10-25-year conv 4s
1932
10-20-year conv 4s
1932
Convertible 4 Hs (wh.is.)1938
99*8
87
0014 Nov'12
091* J'ne '12
90i4 Mch'13
88
103
Ry 1st cons g 4s...1996
Registered
1996
Div'l 1st 1A gen g 4s
1944
951* 100
84
108i2Sale 107
N A W
1061*
98U
97if
90
87
76
1931
96
103
High
93
J'ne'13
86
82
....
6s..1934
ext g
Low
Apr '13
7514 J'ly '13
88i2
....
New River 1st gold 6s....1932
'91 "
25
,
10U* lOU*
J'ly '13
No.
-.1945
9714 IOH4
103
High
94**
95
921*
921*
IOOI2 J'ly '11
,
General 4s
1955
Norfolk Sou 1st A ref A 5s..1961
Norf A Sou 1st gold 5s
1941
Improvement A
Range
1945
Norf A West gen
gold 6s
108
Ask Low
Sale
92i2
Providence Secur deb 4s. .1957
lstg 4s
01992
Registered 55,000 only._ol992
May'12
91
"91" "92'
A O V A L lstg 5s_1926 J-J
Pac R of Mo 1st ext g 4S..1938 F-A
gold 4s
877g
101
Since
Jan, I
Bid
95
N Y O A W ref
1031*1041*
J'ly *1
Apr '13
9714 J'ly '
103
95
May'
lOOig 96
IO514 lOlig Mch'13
103*4 Sale 103*4
103*4
95^4 Sale 95*4
95*4
♦
Leroy
Registered
1929
Rly A G Div 1st g 4s
1933
Verdi V I A W 1st g 5s...1926
Mob A Ohio new gold 6s
.1927
102
102*8 hoi
97
v
Unified A ref
78I4
102
May'l
New England cons 5s
Consol 4s
87
101
99
guar 5s
3d 7s extended at 4%....1938M-N
1st & ref oonv 5s
....1959 M-S
-Cent Br By 1st gu g 4s.._1919 F-A
Cent Br U P 1st g 4s
1948 J-D
,
98
Week's
Range or
Last Sale
5s..1918
cy
70
81
Registered
....1920 F-A
40-year gold loan 4s.....1945 M-S
4
891*
771*
98
F-A
A-O
M-N
M-S
/
J-D
Texas & Okla lstgug 6s_.1943 M-S
Missouri Pac 1st cons g 6s..1920 M-N
Trust gold 5s stamped..al917M-S
\
Registered
al917 M- S
1st collateral gold 5s
1920 F-A
'
97t«
6714
791*
771*
98
70ig
83
807g
1990
1942
1942
MK& TofT lstgug 58.1942
SherShA So lstgug6s__1942
Ok 1st
81*4
67
Kan C & Pac 1st g 4s..
Mo K & E 1st gu g 5s
M KA
,
95U
74
95
Et Louis Div 1st ref g 4s 1940 M-N
2001 A-O
>aiA Wa lstgug 5s
v
891*
2004 M-S
sinking fund 4 Hs..__1936 J-J
R—(Con)—
B A N Y Air Line 1st 4s..1955
Cent New Eng 1st gu 4s..1961
Housatonlc R cons g 5s
1937
NY W'chesAB 1st ser 14Ha '46
N H A
Derby cons
Ol" "97"
J'ne'13
1944 M-N
ext gold 5s
1st A refund 4s.
'
627g
75X4 J'ly '13
92*4
90U Sale
75U 79ig
1st 5s__1949 J-J
J-D
Mo Kan A Tex 1st gold 4s_.1990
2d gold 4s
^1990
100
79*4 Deo *12
"06U ""
H
Non-conv deben 4s
1955 J-J
Non-conv 4s............1956 M-N
Conv debenture 3 Ha
—1956 J-J
Convdebenture6s
1948 J-J
Harlem R-Pt Ches lst4s_1954
Nov'10
9714 J'ns'12
96>4 May *12
98i*Moh'll
90U
9014
s
Mississippi Central
.
79
O A
Registered
;
2361
N Y Cent Lines
eq tr 4Hs 1932
N Y New Haven A Harfc£—
Equip A coll
1
Price
West Shore 1st 4s guar...2361 J-J
J-J
\fanlla RR—Sou lines 48.1936 M-N
•
Y
XOYII.
Friday
July 25
Y.
N.
Since
Ss
Oft
[Vol..
BONDS
STOCK EXCHANGE
Week Ending July 25
Range
Range or
July 25
Bid
Record—Continued—Page 3
1947
Oh G-L A Cke 1st gu g 58.1937
Con G Co of Ch lBtgu g 5sl936
Ind Nat Gas A Oil 30-yr 5s '36
Mu Fuel Gas 1st gu g 5s_.1947
Philadelphia Co conv 5s
1019
Conv deben g 5s...—,...1922
Stan Gas A EI
m
J-J
J-D
Syracuse LAP 5s
A Due July,
102
9914
M-N
93
93
9712
92
1950 J-D
93
93*4 J'ly
100
101
....
100
.1954 J-J
e Due Oct.
Mch'12
lOOR Aug 12
97i* May'13
95
f 6s
J'ne'13
J'ne'13
93
92
1151* H6I4
9914 1017,
Feb *09
100
9914
...
M-N
F-A
Trenton G A E 1st g 5j.__.1949 M-S
Union Elec L A P 1st g 5s
1932 M-S
Ref A ext 5s
—.1933 M-N
Utica El L A P 1st g 58—1950 J-J
Utica Gas A E ref 5s
.1957 J-J
§ Due June.
103
m
1001*
M-N
1926 J-D
Syracuse Lighting 1st g 5s..1951 J-D
conv s
Westchester Ltg g 5s
6 Due Feb. :■«Dae
May.
112
II6I4 May'13
IOOI4 10058 10014
10014
M-S
13
98
" 1031*
102
102
971*
971*
93
98
934t 1001*
Dec '11
85i* j'ne 12
100®4
Feb
01
97
J'ne *13
97
102
92
J'ne'13
92
92
lOOU
Dec"'!I
'
rnmrnm
99
10H2
mmmm
....
i04t2
9 Due Nov.
1011* J'ly -1?
1
Option sale.
10U* 1051*
„
July
N.
Y.
I
K C Ft S & M
v
1
6S...1928 M-N
M-N
Ry ref g 4s_1936 A-O
A-O
con g
M R & B 1st gu 5s_1920
Oaark A Ch O 1st gu 5g g_1912
>
1932
gu g
(B A & A Pass 1st gu g 4s
BP&NP 1st sink 1 g 5s
Seaboard Air Line g 4s
A-O
"8l" *T
81
*71*4 Sale'
7 L'
ol949
F-A
cl933 M-S
1049 J-J
Via Cent & Pen 1st g 6s
1918 J-J
1st land gr ext g 5s...
1930 J-J
Consol gold 5s
1943 J-J
Ga & Ala Ry 1st con 5s
ol945 J-J
Ga Car & No 1st gu g 5s
1929 J-J
8eab & Roa 1st 5s
...1926 J-J
80
Atl-Birm 30-yr 1st g 4s
Car Cent 1st con g 4s_.
•
41949
01929
1949
Registered
1949
Morfc guar gold 3^$s__41929
Through St L 1st gu 4s.1954
Cent Pac 1st ref gu g 4s
78
85
"i
102
100
103
89
89*2
88*j
00
M-S
F-A
Sale
86i2
87
0U2
J-D
IIII
*89*4
M-N
J-J
89
88" *91
J'ly '13
J'ly *13
83
Mch'13
104
105
92
1994 J-J
1994 J-J
Ser A..1956 A-O
Mob A Ohio coll tr g 4s..1038 M-S
Mem Div 1st g 4H-5s—1996 J-J
1951 J-J
1918 J -J
1948 J-J
Atl & Danv 1st g 4s
..1948 J-J
2d 4s...
"
Atl & Yad 1st g guar
Col A Greenv 1st 6s
110
94
Ga Midland 1st 3s..—..1046 A-O
,
Ga Pac Ry 1st g 6s
1922 J-J
Knox & Ohio 1st g 6s
1025 J-J
Mob & Bir prior Hen g 58.1945 J-J
1945 J-J
g Gs
..1915 J-J
Deb 5s stamped...
.1927 A-O
Rich A Meek 1st g 4s..—1948 M-N
80 Car & Ga 1st g 5s_.—1916 M-N
Virginia Mid ser 0 6s
1916 M-S
Mortgage gold 4s
Rich &
Dan
con
.
112
100
"73U Sale*
~83 ~ —II
20Q3 J-J
1958 A-O
1924 F-A
1914 J-,|
Spokane Internat 1st g 5s_.1955 J-,
rper A of St L 1st g 4^s—1939 A-O
X
1st con gold 5s.—1894-1044 F-A
Gen refund j f g 4s
1953 J-J
St L M Bge Ter gu g 5s„1930 A-O
Tex & Pac 1st gold 5s—2000
2d gold inc 5s
02000
La Div B L 1st g 5s
1931
WMinW&N W lstgu5s_1930
Tol& O C lstg 5s—_...—1985
Western Div 1st g 5s
1035
General gold 5s
1935
Kan & M 1st gu g 4s
..1900
_
J-D
Mch
J-J
F-A
J-J
A-O
T0I86L& W pr lien g3Hs-1925
60-year gold 4s
..1050
Coll tr 4s g Ser A..
1917
Tor Ham& Buff 1st g 4s_./tl946
TTlster & Del 1st con g 5S.1928
■
1st refund g 4s
,
J-J
A-O
F-A
J-D
J-D
1952 A-
Union Pacific-—
let RR & land grant g 4s.l947 J-J
Registered
1947 J-J
20-year conv 4s
1027 J-J
,
r
1st & ref 4s
Utah & Nor gold 5s
1st extended 4s.
Vandalia cons
Am Thread 1st col tr 4s
1919
Am Tobacco 40-yr g 6s....1944
"il
*94*6
101
107*8
104*4 104*4
72*i 78*2
78*2
107
86*2
107
83*4
88*2
107
....
J'ne'13
103
100
J'ne'13
106
106
100*8
95
105*8 J'ly 12
84*2 64*2 May'13
Mch'13
105lj .... 110
106
107*1 J'ne'13
105*2Nov 12
79
Mch'13
100
102
101*4 May'13
03" "64*2
....
"98lj
...
103*2 Jan '13
73
Sep 12
105
100
Gen Electric deb g
Debenture 5s
104
92
N Y Air Brake 1st conv
Latrobe Plant 1st
Inter-ocean P 1st
88*i
104"
~89*4
ioo" 107*;
....
99*2 Apr
Nov *04
103*2 105*2 Apr '13
103*4 107*4 J'ne'12
94*2
95*4
85
91
—
81
99
....
105*2 IO6I4
|
Col Fuel
1932
s
f g 5s
gen 6s__
Col Indus 1st & coll 5s
gu
,Cons Ind Coal Me 1st 5s
J-D
1943 F-A
..1919 M-N
1934 F-A
1935
J:8
Cons Coal of Md lst&ref 5s 1950
Gr Riv Coal & C 1st g 6s__/il919 A-O
'Kan & H O & C 1st s f g 5s.l951 J-J
■
gen
Birm Div 1st consol 6s
Tenn Div 1st g 6s
[Oah O M Co 1st gu
,
Utah Fuel 1st g 5s
Ictor Fuel 1st
g
J-J
..1051 J-J
1917 J-J
1955
al917
6s..1922
A-O
J-D
West Electric
*
No price
s
f 5s
88*2 89
Apr 13
100
1027, Apr *13
86*2 J'ne '12
84
95*8
66
96
.
95
9812
130
99*8
98i2
863s
97
8878
91
05*2
93*4
108l2 112*8
103*2 109
86*s
93*8
93
Dec
1922 J-
94
03
93
T,£,?gr<lp!?, & Telephone
lelep & Tel coll tr 4S..1029 J-_
Convertible 4s
..1936 M-S
20-yr conv 4 Ms (when iss) 1933 MChlcago Telephone 1st 5s__1923 JCommercial Cable 1st g 4s_2397 QRegistered
2397 QGumb'd T A T 1st & gen 5s_1937 J-.
Keystone Telephone 1st 5S.1935 J-J
Metropol Tel&Tel 1st s f 5S.1918 M-N
Mich StateTelep 1st 5s__^_1924 F-A
N Y & N J Telephone 5s g_1920M-N
N YTelep lst& gen s f 4M« 1939 M-N
Pac Tel & Tel 1st 5s_^
South Bell Tel & T 1st
Apr ' 13
Mch 13
94
5s
Am
May'll
93
1st
Westinghouse E & M s f Ss.1931 J-_
10-year coll tr notes 5s_.1917 A-O
10278 i04l2
68*2 Feb ' 13
90*2
91*2
Oct '12
97
f
*88 " ~89
50
Dec '12
97*4
99
33
West Union col tr
1937 Js
f 6s 1941
cur 5s
28
11*4
16
2
1
1
2
6
82*2
100
90
Sep 12
...
77*8
77*8
77*« 79
101*4—- 103*4 May'iJ
82*i
81
86
34
161"
05
Feb
1
Oct '12
07
100*4 J'ne'13
95
J'ne'13
....
90
99
99
71
74*4
Feb
70
~84"::::
85*4 Sale
13
J'ly *13
98*t Feb '11
8678 J'ne '13
8534
8612
89*4 Mch'13
84
87
62
57
40
4912
47*t
97
99
98*4
99
95*4
051^
95*2 Sale
927g
J-
1938 J-.
Dec'12
93
.
48*2
Jly '13
99
Sale
99
99
75
Sale
73
75
33
1011*8
101*2 Sale 101*2
99*2 Jan '13
99
.
90
93
93
<
93
118
J'ne 13
117*2 J'ne'13
95*2 J'ly '13
05*£ j'ne'12
82*2
81*2
82
82
103*8 103*4 May'13
927,
03*8 927,
80*|
80*4
80*4 Sale
93
927,
931,
Sale
97
95*2 J'ly '13
96*4 Feb *13
90*2
02*4
9258
928b Sale
S434 Feb '13
96
102
92*4
68
61
57
83
84
821,
96*2
95
Apr '13
70
76
J'ly'13
101*2104
104
75
98
Sale
82*2 Sale
68
12
83
"
97*8
26
98
21
821,
817,
99
99*4
100
85
84
J'ly '13
J'ly'13
Sale
....
18
100
<■
84
63*8 65
915g Sale
915,
74
71
75
047a 94*4 J'ly '13
117*2
110i2 116*,
965,
9634
96*4 Sale
115*2
115*2 Sale 115*2
94i! 95*2 941, J'ly '13
May'13
97*2 97
85
85
J'ly '13
88
88*2 Feb '13
94*4
~94i| Sale 94
f
94
71
61*,
88*4
96>4
80*4
16
93
96
91*$
53
116*1 122*4
25
04
09*4
15 115*2 122*2
94*2 997§
,
,
97
....
...
98*8
98*4
99
955g
91
97*4
J'ly '13
'
105
17
913,
597g
2
63
Sale
82
10
627,
116
96*,
70
101*2 105*,
973s 100
81*1 89*t
98*i 101*4
25
'
997a 100
99
95
•mmrnm
104
mmmm
85
88*2
84
....
9784
1
94
100
95*f
88*2
90*t
98«4 103
97*4
97*4
91
102*2
102*7,
"31
1027,
88*4 921$
8334 801,
4
9434 1007$
—
91
Sale
84l2
91
89*4
8334,
85
98
Sale
98
V '1
98
90
88
....
92
ftQ
807,
89
30
20
80*2
84*2
"83"
26
27
100*2 Sale 1001,
99*,
99*2 Sale
99
9934 Sale
907,
9078 Sale
100*4 Sale 100*4
88*4
88*4 Sale
...i
95*4
86*4 Sale
"*01
997,
99
98*2 102
9
90*4
6
61
997, 102*4
873s 94
87*4
....
13
98 '
96*1
907$
82
90
"ii§
101*4 Sale
77
963, 102
1
9734 1107$
98*1104*4
IIII
IOO*, 101*6
102
100
103*4
417
S884
91
96*2 Apr'13
86*4
100
91*4
100*2
...
83*2 NOV '11
96*4
"97*2
97
-
*96 * 100*4
97
85
Aug'l
1001, J'ne'13
97*2 J'ly '13
97*2, 99
103U May'll
*96*2 Sale 96I4
89*2100
102
....
97
101*4
""22 *95*38 "08*"
9634
9712
95
101
9834
99
09
99
4
98
101
97
98*4
97
97
1
96
97
Sale
881,
887,
..1950 M-N
887,
Mut Un Tel gu ext 5s
1941 M-N
Northwest Tel gu 4Ms g.1934 J- '
♦90" IIII
93
Jan '13
8OI4
80
35
7
J'ne'13
Fd and real est g 4Ms
'90" *98**4
104
J'ne
102*t
88*i 96*t
11
IIII *93*" *93*"
BONDS—Concluded.
86
97
80
93*2
102li
80*4
97
81
J'ne'13
9512
107*4 j'ne'12
J'ne'11
Oct '12
93
IOO
96
86
1
935$
99*,
*77**2 "85"
•
1
«
•
1
1
1
1
73
3
877,
73
80
99?4 103
103
Apr
101*4 101
100*4 1017, 100*4 J'ly
110
Jan
103
101
un "so
*79**4 80*"
100H
100*4 102
.—
92*,
93
80
"
May
Bush Terminal 1st 4s
Consol 5s.
92
98
80
897, Sale
1922 A-O
Int Navigation 1st s f 5s...1929 F-A
791*
89lt
897,
94
82
87
94
155
140
80
Apr'13
145
92
1955 J-J
Bldgs 5s guar tax ex
..I960 A-O
Jhino Copper 1st conv 6s..1921 J-J
Inspir Cons Cop 1st 6s (rects)..
898$
May'13
May'13
89
1952 A-O
Int Mercan Marine 4Ms
*9*8*" *98*"
86
73
997,
J-D
75
I
86*
79
09*4
1
1
t■I«
II1 1
98
72
75
81
81
85
IIII *921,
M-S
J'ly'22
75
Friday; latest bid and asked, a Due Jan. d Due April. « Due May,. ? Due
S
"47*i "57**1
Dec '12
1931 M-S
—1053 J-J
Wtk Iron Ooal&Coke 1st g 5s 1949 M-S
■
J-
91*2
93
Pocah Con Collier lstsf 5s_1957 J-J
Coal
ft L Rock Mt &5s 1st 5s
P
enn
JJ-
99
108
...ol926 M-S
'O0IF& I Co gen
Stamped
.1980
Realty & I conv deb g 5s_'24
U S Red & Refg 1st
g 6s
1931
U S Rubber lO-yr coll tr 6S.1918
91*2
68
12i4
11*4
l*s
Miscellaneous
1 5s
a
The Texas Co conv deb 6S.1931 JUnion Bag & Paper 1st 5s_1930 J-
80
MISCELLANEOUS
Debenture 5s
5s__1931
U S Steel
Coal & Iron
1
f
01*2
84
97U Sale
s
Repub I A S 1st A col tr 5s. 1934
10-30-year 5s 3 f__
..1940
Standard Milling 1st 5s
1930
J-J
A-O
A-O
A-O
M-N
94
60
90
5s..1921
85*s
100" loo
May'13
85*8
65
955s Sale
f
91*2 Feb '13
04*4 J'ly '13
51
~ef*8 Sale*
s
J-D
Corp—(coup __dl963M-N
10-60-yr 5s|reg
<21963 M-N
Va-Car Chem 1st 15-yr 5S.1923 J -
84
"50*4
i.,1952 M-N
6s.1928 M-N
U S
1061 j
100
J'ne'13
12
Railway Steel Spring—
99*8 101
89*4 May'13
,85*2-105
106*8 Sep *12
100*4
100*2 Sale 100*2
61
Nov 12
39
87
1951 F-A
02
103*2
M-S
A-O
M-S
M-S
A-O
F-A
A-O
Nat Enam A Stpg 1st 5s_.1929,J-D
Nat Starch 20-yr deb 5s...1930 J-J
National Tube 1st 5s
——
102
...1944
F-A
J-J
6sA.'21 A-O
env
9578
Aug *12
-
....1951
90U
Feb '13
111
1915
5s
Mexican Petrol Ltd
105
108*4 108*4
10212 1086s
993s
108
100
...1950
5s...
102*2 Apr '11
11II102
5s Series A
con
Lorillard Co (P) 7s
1021j 104*8 10211 J'ne'13
91
93
91
85
92
J'ne'13
4s Ser A.1955 F-A
,Buff& Susq Iron
1st
Liggett A Myers Tobac 7s_1944
101
104*4 104*4
104
A-O1
F-A
M-N
M-N
A-O
A-O
J-D
J-D
F-A
1952 M-S
5-year convertible 5s
Mch'13
J-J
M-N
J-J
M-N
A-O
A-O
..1952 M-N
Oct '06
99*»
3)^a.i_1942
Lackaw Steel 1st g 5s.....1923
98*58
J-J
A-O
Gen'l Motors 1st lien 6s...1915
111 Steel deb 4Ms
-.1940
103*1103*8
108*4 Jan *13
"99*2 I—
1934
....
103*4 NOV'12
104
i
Cuban-Amer Sugar coll tr 6s 1918
Distil Sec Cor conv 1st g 5a_1927
E I du Pont Powder 4H8--1036
"79" "70"
104*4 Jan '13
100
Cent Leather 20-year g 5s_1925
Consol Tobacco g 4s
1951
Corn Prod Ref s f g 5s....1931
101*4 102l2
107*1 113
101*8 985* J'ne'13
112
f fis.1919
Indiana Steel 1st 5s..
Int Paper Co 1st con g 6s..1918
Consol conv a f g 5s
1935
Int St Pump 1st s f 5s
...1929
1097j no
..
100*8 104
s
General Baking lst25-yr 6s_1956
105*4 Dec "II
103
Writg Paper 1st
Baldw Loco Works 1st 5s..1940
Beth Steel 1st ext s f 5s
.1926
1st A ref 5s guar A.,
1942
1st 25-year s f 5s
80"*i *87*4
82*4 Feb '14
103
May'13
13
12*4 Sale
11*2
Registered —........1944 A-O
Gold 4s
..1951 F-A
Registered
1951 F-A
"06
Am
105*4 Sep '12
87*4 Jan '13
82
IIII
g
Consol 4s Series B
1957 M-N
Vera Cruz3c P 1st gu 4Hs_1934 J-J
Virginian 1st Es Series A —1962 M-N
102*
87
82t2
.1926 J - J
1933 J-J
1946 J-J
.
.
B8H
Mch'13
.1929 J-D
Ore Ry & Nay son g
Ore Short Line 1st g
1st consol * 5s
Guar refund 4s
110
101*1101*2
9134
91l2 92*8 91*4
91*4 J'ly '13
9U8 93
109*8
1093s
....109
10334 J'ly '13
1041, 105
87U
87*2
86*4 88
..02008 M-S
4s__1046 J-D
6s_.1922 F-A
...1936 J-J
deposit....—..1928 A-O
-F
pl915
Debenture 5s
—1931 _J-N
Am HIde& L 1st • f g 6s
ua
i.*9M-S
191"
Amer Ice Secur deb g 6
1925 A-O
Am Smelt Securities s f 6s_1926 F-A
Am Spirits Mfg g 6s
1915M-S
106*8
101*8
84*2 May'13
J-D
A-O
2d 20-year 5s
1927 J-J
Tol P & W 1st gold 4s——1917 J-J
73*8
82i2
107
...
50-year 5s. i.
W O & W 1st cy gu 4s^
West N C 1st con g Cs
1
73*8
84
81
101*8 102
79*8 83
77
1
45
01*4
102*2 107
102*2 J'ly '13
80
Aug'12
65
Apr'13
Nov
Am Ag Chem 1st c 5s
Am Cot OH ext 4J^a
105*4 107
25
47U
Allis-Cbalmers 1st 5s
...<
110
66
Nov'12
Manufacturing & Industrial
100"
10218
Sep '11
105
...
cons
•
Feb '07
10218 Sale 1017,
100
1st
—
J-J
A-O
Trust Co ctfs
105U 107*6 105*4 J'ly '13
100
Va A So'w'nlst gu 5s
-
93" "94
110
110
100
series F 5s__...
General 5s
-
A-O
110
»..<
...
Series E 5s
1026 Mi¬
1031 M-S
1936 M-N
—
>»«»
119*4 Mch'10
Jan *13
104*2 106
110
Series D 4-5s—1921 Mii,
-
-
94
100
..1916 J-J
ETVa&Ga Div g 5s...1930 J-J
Con 1st gold 5s
,...1956 M-N
E Ten reor lien g 5s......1938 M-S
-
109*4 Sep '12
1049 A-O
4s
91*2
104*4
-
104*4 May'12
108
94
100
96*2
83
103*2 102*8 J'ly '12
103
Dec '12
105
100
93*4
00
Hi
96*2
84
151
'11
64
*«
Wheeling A LE 1st g 6s...1926 A-O
Wheel Div 1st gold 5s...1928 J-J
Exten A Impt gold 5su.._1930 F-A
9M- S
RR 1st consol 4s
...1949
20-year equip s f 5s
..1922 J-J
Winston-Salem S B 1st 4s..1960 J-J
Wis Cent 50-yr 1st gen 4s._ 1949 J-J
Sup&Dul div A term 1st 4s '36 M-N
98
86it
104
88
...
106
88*2
91*4
94it J'ly
...1945
50
J'ne'13
May'13
f07"*2
102*2
—-
West Maryland 1st g 4s...l952
West N YA Pa 1st &5»—.1937
Gen gold 4s
..1943
Income 5s
dl943
48
47
Wash Terml 1st gu 3H*—1045 F-A
F-A
1st
10244 103*8
89
91*4 Sale
8G5j
F-A
'
'
2d gold 4s
Trust Co certfs
50
47*2
...1954 J-D
40-year guar 4s
101*8 May'13
101
Ore A Cal 1st guar g 5s_.1927 J-J •100
10158 — 101*2 J'ne'13
80 Pac of Cal—Gu g 5s_.1937 M-N
91*2 Sep '12
80 Pac Coast 1st gu 4s g_1937 J-J
"82" "86*2 8856 Feb '13
ftan Fran Terrul 1st 4s__1950 A-O
96
97l4 ion* May'll
Tex A N O con gold 5s
1943 J-J
89*2
89*8 Sale 887*
80 Pac RR 1st ref 4s
1955 J-J
St Louis div 1st g 4s
Ala Cen R 1st g 6s...
9178
103*4 103*4
86*2 May'13
J-D
1921 A-O
WacoA N W div lstg 6s 1930 M-N
A A N W 1st gu g 5s—...1941 J-J
Morgan's La & T 1st 7s
1918 A-O
1st gold 6s
1920 J-J
No of Cal guar g 5s
1938 A-O
gen 4s
88
May'13
Mch'13
49*8
Sale
94l2
J'ne'12
80
50
106*2
99*i
9
99
80
High
101
6
10234
90
IIII "97*2
Low
No.
High
10214
94i2
48
Tol & Ch
Wab Pitts
Cent and Old Col Tr Co certs.
Columbia Tr Oo ctfs....
79
84*4
102*4 Apr '13
106
May 12
Ask Low
48*2
J-J
J-J
A-O
Div 1st g 4s—..1941 M-S
Term 1st g 4s—1954 J-D
86
73
~
Jan. 1
101*2103
95*4 96
Det & Ch Ext 1st g 5s.-.1941
Des Moin Div 1st g 4 s,...1939
Om Div 1st g 3^s—
1941
" "85*2
102
M-N
F-A
J-J
M-8
J-J
J-J
Stamped
....—4Eqult Trust Co ctfs..,;.-—
Do
Stamped
...
66"*i "77*4
102
Since
Last Sale
Do
"86*4
79*2
Weeks
Range <F
Cent Trust Co ctfs—...
J'ne'12
gold 4s int guar
Registered
81
J'ly'13
107ip 107
100*4 101*2 102
G II & S A M & P 1st 58.1931 M-N
Gila V G & N 1st gu g 5s.l924 M-N
Hous E & W T 1st g 5S—1933 M-N
Develop A
80
70
Nov'12
81
Southern—
1st consol g 5s
90
84*4 Mch* 13
90
J'ne'13
.
100
Gen
8412
"71*4 IBs
104
A-O
1st guar 5s red
1933
H A T C 1st g 5s int gu»—1937
09*8 100*8
103*4 Jan *13
Southern Pacific CoGold 4s (Cent Pac coll)-41949 J-D
Registered
20-year conv 4s
81
76
73^
VV
78
79*4
86*| Feb '13
..1959 A-O
Refunding 4s
65
—.1939
2d gold 5s
1939
Debenture Series B
....1939
1st lien equip s fd g 5s....1921
1st lien 50-yr g term 4s..1954
1st ref and ext g 4s
..1956
Tirabash 1st gold 5s
'09
Oct
July 25.
Bid
113*4
Range
Price
Friday
EXCHANGE
High
105
82
80
104
STOCK
Week Ending
Low
—-
J-D
1950 A-O
Adjustment 5s
No.
72
72
A-O
A-O
1950
1950
......
•
High
108*2 J'ly '13
:««-«:
Gold 4s stamped
1 Registered
■
Low
5s_1947 J-D
1943 J-J
1919 J-J
,
\
A**
108*2
Sale
77*j J'ly 12
103*2 J'ly '12
no
99*4 May'13
'80" Sale 85*2
86
79
J'ly '13
79U
77
77
77i4 77
101*8 Apr 07
A-O
BtLS W 1st g 4s bd ctfs
1989 M-N
L 2d g 4s inc bond ctfs__..pl989 J-J
j Oonsol gold 4s
f Gray's Ft Ter let
Since
Jan. 1
|8<d
107
72
1936 A-O
Registered
| KO&
Y.
N.
Range or
Last Sale
July 25
BONDS
Range
Friday
July 25
L & San Fran (Con)
KOFtS& M
Week's
Price
BONDS
STOCK
EXCHANGE
Week Ending July 25.
|
Record—Concluded—Page 4
New York Bond
261913.]
5884
"61*
777, Sale
89
947$
58*4
77*4
94
827,
92
89*|
96
94
94
122
140
190
94*| 108*|
56*i 601|
75*s 79*,
95
60
79
A-O
MgeBond (N Y) 4s ser 2..1966
10-20 yr 5s series 3
1932 J-J
Morris A Co 1st s f 4MS
1939 J-J
N Y Dock 50-yr 1st g 4s... 1951 F-A
Niag Falls Pow 1st 5s
1932 J-J
Ontario Transmission 5s...1945 M-N
Pub Serv Corp N J gen 5s__1959 A-O
61
86*i J'ne'13
May'13
82
102i2 100 J'ne'13
92
Dee'12
90
89*4
90*2
89*4 Sale
100
80
82
100
89*t
84
102U
....
RayConsCopper 1st conv 6sl921 J-J
104
1939 J-J
100
Wash Water Pow 1st 5s
99**i "99i|
"99**1 May'13
IIII "86*2
Sale
__
103
102
104
19
15
887$ Q|
97*il21
Deo '12
June. M Due July, t Due Aug. 0 Due Got. 9 Due Nor. c Due Deo* « Option sale.
238
CHICAGO STOCK EXCHANGE-Stock Record.
STOCKS—HIGHEST AND LOWEST
Monday
July 21
July 19
Tuesday
Thursday
July 22
Friday
July 25
Year (1912)
Range for Year 1913
Share*
23
July
Range for Previous
CHICAGO
Week
July 24
Wednesday
STOCKS
STOCK
.EXCHANGE
Sale*
SALE PRICES
of the
Saturday
Lowest
Lowest
Highest
Highett
Railroads
•25
30
*25
30
•70
85
*70
85
•941,
253g
95
25&8
71,
•94i2
25U
95
•7
•21,
*7
•15
„
♦3
312
•30
30
•91
305,
92
•
9214
450
•
130
*....
•
•42
*30
3214
971,
*97
*""!
93
93
*_...
"
•
57
*45"
45
*97
971,
•97
97l2
60
50
•204
205
5012
*204
45
*
67
"sir.
51
6U,
*501,
51*4
204
140
14U4
•10
10
205
140
11
*10
6U4
14U, 1411,
101,
*91,
11
142
14217
144
•981,
99i2
99
99
*981,
991,
•98
991,
•28
30
*28
30
♦28
30
*30
32
,♦96
97
97
97
*96
9712
♦96
971,
65
65
991,
65i4
65
65iS
05
651,
~77_
♦74"
77"
*74"
7>"
65
65
f n of
JuUol
•74"
77~"
•111
*74"
115
*113
116
115
115
♦113
115
•117
119*4 *117
119*4 ♦1161, 119*4 ♦116
*114
116
♦114
•1121, 114
*112l2 114
•110
112
114i2
•42
•89
112
♦
43
92
113
cf/f 70
oCUv
*113
41
41
92
*89
43
115
*89
92
*89
92
*89
92
111*4 112
11214 112*4
1125, 1131,
1125, 112*4
•60
*65
*67
41S4
115
---f
»9012
92
*90
91
17
*16
18
♦16
19
•16
19
Last Sale
5
•33
40
♦33
40
*39
41
*39
41
Last Sale
2
173
174
1681, 1697,
171
1697, 171&8
♦119
*119
1741,
♦119
mm
*119
m
25
*23
25
♦23
25
♦21
87
*83
86
♦83
86
*83
"35
174
175
86
Dec'12
104*4 104*4
10458 10434
Last Sale
212i2July'13
103
103
•161
158
158
5*4
162
6
♦
Us
65i2
•1081,
56*8
....
•
102
162
6
6
61,
u8 *
5578
6714
"56*4
IO8S4 10834 *108*4
*
10
162
10
162
6
6
63|
*
U,
67i8
5i2
9
*9
Last
Stock.1
(00*
NAME.
Uted.)
om
In
In
Per-
1911.
1912.
tod.
Aug
100
Feb
106*8 Oot
126
J'ne 10
139*4 Jan
3
138
Deo
1987a Mch
60
J'ne
6
State.
Calumet National
3200,0
100,0
Capital State....
200,0
3191,3
6
65,5
None
r22,5 Org.. J
Central Mfg Dist.
250,0
rl6,7 Beg. b
Cont & Com Nat. 21,500,0 10,094,9
10
Corn Exch Nat..
16
3,000,0 6,413,6
Drexel State.....
6
*200,0
113,0
% Bid.
Drovers' National
Englewood State.
Firat
National
FirstNatEnglew'd
Foreman
Bros
1
150,0
Halsted St State.
1,000,0
2,000,0
200,0
Ft Dearborn Nat.
Hibernian Bk Asan
2,000,0
Hyde Park State.
Kaapar State
200,0
Lake
200,0
'
View State.
400,0
Lawndale State..
200,0
Live Stk Exch Nat
1,250,0
Mech A Trad State
Nat Bk of Repub.
200,0
National City
Produce
National
North Ave State
North Side St Sav
North West State
Ogden Ave State.
People'aStk YdsSt
Second Security.
10
Q-J
6
Q-J
160
Q-J
July
8
Q-J
July
17
12
....
South Chicago Sav
South Side State.
State Bank of Chic
State Bank of Italy
Stock
Yards
Sav
.Union Bk of Chic.
Washingt'nPkNst
CentralTrCoof 111
Chicago City BAT
Chicago Sav B kAT
7
184
Jan
222
J'nn
5
13514 Jan
150
Mch
77
Feb 11
J'ne 30
1912
A*Jt.
Dec
111*4 Feb
80i, Sep
Dec
1021, Mch
J
100
J'ne 12
731, Sep
1207g Sep
Do
105
J'ne 12
128i2 Jan
123
Jan
14
100
113
J'ne
11U2 J'ly 14
122i2 Feb 17
118
Jan 25
100
2
J'ne 27
35
Do
Do
104" "j'ne* 10
100
7
6
Q-J
Q-J
6
Q-J
27
OV.
•12.
10
us
QJ
Nov I'll
1,000,0
5,600,0
Cont A Cora Tr AS
i600,0
3,000,0
Drovers Tr & Sav
250,0
First Trust & Sav
5,000,0
Ft Dearborn Tr & S
Franklin Tr & Sav
Greenebaum
Sons
Guarantee Tr & S
Harris Tr & Sav.
250,0
300,0
1,500,0
200,0
Home Bank & Tr.
1,500,0
300,0
Illinois Tr & Sav.
5,000,0
Kenwood Tr A Sav
200.0
Lake ViewTr & Sav
200,0
LaSalleStTrASav
Liberty Tr & Sav.
Market Tr A Sav.
1,000,0
250,0
200,0
Merc'ntileTrASav
250,0
Merchants' L A Tr
Michigan Ave Tr.
3,000,0
200,0
Mid-City Tr A Sav
500,0
Northern Tr Co..
Nor-West Tr A S.
1,500,0
Old Colony Tr A S
200,0
People's Tr A Sav
600,0
Pullman Tr A Sav
300,0
Sheridan Tr A Sav
200,0
250.0
311,7
12,263,2
0
Q-J
8
Q-J
Q-J
6
M-N
6H
Q-J
8
Q-J
65
J'ly 10
9012 J'ly 23
25
Apr 25
8212 Jan 25
1013s Jan 13
42
J'ne 25
100
155
J'ne 11
97*g Feb
214'4 Jan
117
May 19
pref
com
pref
10A2*
J-J
6
6
Q-J
8
8
Q-J
195
15
72.2
rl02,6 Com.b
8
2.885.1
8
*150,4
r52,7 Beg. b
220.5
804,2
"5"
51.1
J'ne 12
1
.
60
Ward, Moptg'y 5e Co pref
Jan
265
17
100
87U Mch 24
In
Per¬
429,4
51,2
1,680,0
400,0
132.5
8A2C
Woo dla wn Tr A S
200.0
106,7
Nov
110
Jan
Nov
6S&S Feb
D, Jan"
801, Sep
"ii" Sep
15
May
Nov
6
J-J
July 13,
July 13.
Q-J
124
165
1H 160
148
3
■'
-
m
153
'
300
Q-M J'ne30'13,3
10
Ask.
18. 120
Q M J'no30'13,2
8A2«
9H
p.
*13,
Q-M July
—
6
8
% Bid.
.
V. 95.
mmm
'
■
m
mm
217
2K 210
.
Chicago Bond Record
BONDS
CHICAGO STOCK
Week ending
Price
Inter
Wert's
B'di
Range or
Friday
est
July 25.
Sold
134
146
July'13,
2)4 250
V.93,p.1235
255
July '13, 2
July'13,,
174
91
177
1928
Range
for
195
110
260
Chic Rys 6s
..series 'A"
Chic Rys 4s_.„_.series "B"
Chic Rys 4s
series "C"
Chio Rys coll 6s
1913
A
I
O £
995,
79
Sale
-
J-J t
921,
Sale
A-O £
J
F
-D :
-
A
t
135
Commonw-Edlson 6s
...
182
Elec
5s
101
1943 M- S
61943 M- S £100
99 U
Cudahy Pack 1st M 5s..'. 1924 M-N
Dla Match Con deb 6s
203
205
Lake St El—1st 6a
2)4 220
224
142
152
...
153
July'13.
4
485
492
July '13,
July '13,
IK 185
1)4 200
210
110
176
...
115
...
324
276
285
92, p. 1537 110
July '13, 2)4 295
300
11 V
170
134
215
118
180
...
133
Sale
100
9914 June'13
10234
10234
99*4 April'12
921,
"26
96
981,
88
94
IOOI4
94*4
90
"29
771,
93
81*4
•
93
"72"-"75""
100
1
45
6
991, 1017,
58
"40 "997, "1*03*®
1
"16
July'13
991, 1021,
99U 1001,
1028, 1081,
99" "W
1051, April'12
Morris A Co 4)*s
Nat Tube 1st g 5s
do
-1939 J-J
...1952 M-N
6s....1922 A-O
VL
98
931,
Peop Gas L A C 1st 6s—1943
Refunding gold 5s
1947 M- S £100*4
101
Chic Gas L A C 1st 58.1937 J-J
Consum Gas 1st 5s
1936 J -D £100
£
£
6s_1956
1924 j"-~j £ 91
1914 J-J £ 987,
Tri-Clty
Ry A Lt con
trust lien s f 6s
1923 A-O
Union Elec (Loop) 6a
1945 A-O t 77
U S Gypsum 1st g 6s
1922 M- S
Western Elec Co 5a
1922
81
104 V,
Aprll'12
86 U
89
95
861,
'13
Aprll'12
86I4 July'13
100
99
Sale
931,
A-O
Pub Serv Co 1st ref g
82
701,
100
N W G L A Coke Co 6s.. 1928 Q-M
...1945 M-N
South Side Elev 4)*a
; 87
78
761,
Jan
13
100
100
951, Sept '12
100l4 July '11
Ogden Gas 5s
Swift A Co 1st g 5s
87
761,
1911 M- S
M-N
'12
80
100*4 May *12
103U Aprll'12
1st A ref g 6s—1940 A -O £
Mutual Fuel Gas 1st 6e 1947
Jan
79
Sale
Nor Sh Gas of 111 1st 5s__1937 F-A
North West fil 1st 4s
Oct
87
80
761, Sale
Mil Et Ry A Lt 1st g 6a. .1926 F-A £103
104i,
do
94i,
ref A ext 4)4s..l931 J-J
Nor Shore El 1st g
450
49U
100
100i,
99
991, 1017,
797,
89
"15
*12
Sale
99
"35
Mch '13
.
9Q
Metr W Side El 1st 4a... 1938 F-A
Extension g 4s
1938 J-J
1.V.92,p.1004 150
98
491,
997,
Jan
91
917,
mrtmm
'13
961, Dec '12
101
ion,
95
1913 M-N
..1928 J-J
5a
2
165
72
,
Sale
80
Jan
High
897,
City Ry A Light Co
July'13,
V.92. p.929
V. 94, p.1030 160
~72i2
?>&le
102*4, Sale
1920
'July'1.3,
®
93
90
Kan
(II)
July '13, 2)4 2*
Dec30'll, 4
79
93
49U
997,
330
146
Sale
"6§r,
Gen Mot 6% 1st L notes. 1915 A-O £
Int Har 3-yr 5% g notes. 1915 F - A
Inland Steel 1st M g 63..1928
...
90
so
88
100
Chic Ry Pr m M g 4s_cl927 J-J
Chic Ry AdJ Inc 4s_..cl927 Mayl
Chicago Telephone 6s
1923 J -D
Commons
90
Sale
F -A
Cicero Gas Co ref G m__1932 J-J
143
88
9258
921,
881, July'13
96
9614
90
July'13
Low
91
June'13
80
80
90U
A
...
370
961, May '12
99 34
991,
-
No.
13
July '13
90
*....
F
-
■High
Feb
90
8214 April* 12
M-N
1927 F
Year 1913
Soli
79
A
220
note
Ask Low
"90"
July'13.
2)4 216
300
July *13, 6
July '13, 1)4 144
5)4 225
Latt
July 25.
period
Bid
June'13
93i,
991, 1001,
931, 97
Sale
1151, Sept'12
1003,
997,
Sale
101
101
100
Sale
100
100
100
9914 July'13
92*4 July' 13
91
901,
9914 July'13
997«
92*4
Sale
99i,
991, 102
103
1001,
9914 IOOI4
911,
97*,
901,
931,
991, 1001,
98U Aprll'12
85
Aprll'12
100
May'12
991, July'13
J-J
991, 101
138
Note—Accrued
•
397
234
Lasi Pail.
*12.
6
mm -
8A2«
Cal Gas A El
257
127
J'ne30'13,2
July'13,
1)4
J uly
m -mm
200.0
225
320
Q-J
""**
iod.
$r23,8 Org.
$200,0
1.000,0
116
J'ne30T3,2
8
Jan
215
1051s Jan
il35*4 May
3
1912.
1939 J -D
July '13,
8
49
Aug
971, Aug
109U Apr
Dec
98*4 Jan
2
1911.
1929 J-J
8
Q-J
Q-J
22U, Nov
125*4 J'nn
12U, Jan
307s J'ly
5
In
t Profits,t
(00, om Uted.)
Am Tel A Tel coll 4s
424
1
Jan
112
*1031, Oct
Jan
140
Surp. A
Slock,
Armour A Co iHs
Auto Elec 1st M 0s
422
July '13, 4
July'13,
IK 129
1.V.92,p.1004 205
8
987g Nov
991, Apr
*
Hi Feu 10
2
68*4 Jan
10834 Mch
141, Jan
94i2 Apr
-
*1071, Apr
135
Q-J
Q-J
Ap 10 '1
8
Q-J
us J'ne
Apr
Dec
98
2
1081, Feb 15
2061, Jan 10
9
61, J'ly
J'ne11
1,200,0
...
1H 140
4
6
Feb 16
280
106i2 Feb 19
9
J'ly 22
100
Standard Tr A Sav
432
120
J-J
67
122's Oct
180
V. 95, p. 593 117
V. 94, p. 484 165
16
US.
'
94', Dec
x
1077 Mch *6
9934 J'ne 24
1481, J'ne 10
5i2 J'ly 24
100
com
1031, Jan
x
SO
Dec
Feb 13
34
J'ne 11
Chicago Rys 5a
J'ne30'13,2)4
July '13, 3
July'13,
3
J'ly
92
101
The Quaker Oats Co. 100
Do
pref..
100
100
...
IK A185
V.95, p.1944 100
e
Feb
01
Feb 21
69
26i2 May 16
Chio Pneu Tool 1st 5s._al921 J-J :
3
Mch
103
115
x
12434 Feb 17
100
100
100
common
255
255
'July 13,
May'13,
July 13,.
76*8 Aug
1011, Apr
130*4 Ma/
135
Sep
120
Jan
Dec
114
12214 Oct
408
215
2
6
July'13,
1)4 130
12
365
Q-J July '13, 3
us .Aug 19'1 2 V. 95, p.523 140
10
300
Q-M J'ne 30*13,4
8A2e
488.4 8A2u
Q-J
1,911,8 Notpu blished
10
159,4
Q-J
8)4
None Q-M
16
3.058.0
16,7 Beg. b us .Apr 3 '11
101,9 Beg. b us Apr 8'12
10
Q-J
290.7
2)4
6
J-J
52.0
12
12"
Q-J
2.779.1
r71,7 Beg. b us .Apr 10'1
10,249,7 16A4* 16A4e
4
7
7A2<
Q-J
101.8
6
6
Q-J
86,7
us. Ma y'10
280.4 Beg. b
*12.
28,6 Org. D ec. 6
*27,5 Org, S ept. 5 *12.
r
39,7 Beg. b us J'ly 1 '12
7.082.0
July
May
284
403'
'13, 1)4 125
July'13,
1163s J'ly 24
100
com
pref
168
*13, 1)4
Jan 27
63
an
105i2 Dec
3
Mchl9
100
pref..:
63
Jan 23
115
118
190
July
3
Feb 13
100
162
July 13.
Q-J
llOQ Feb
67
1)4 184
Q-J
6
J'ly
56
225
6
103
76i2 Jan 31
218
Q-J
Oct
2H, Oct
87
Oct
J'ly 15
ijnlf A ref 5s 1937
Chicago City Ry 5a
1927
Chic City A Con Rys 5s.dl927
Chicago Elev Ry 6S.....1914
J'ne 30*13,2
87
148
282
95, D 693 130
8
Feb
64
West Side Tr A Sav
r4,4 Beg. b us.Apr 8*11 V.92,p.1004 110
215
59,4
Q-J July '13, 2
10A2«
10
250
614,4
Q-M J'ne30'13,3
2 V
10
Dividend Record
se e note (if)
1,196,8 Not pu blished
(II)
136
r35,0 Beg. b us Aug *12. V. 96, p, 273. 132
10
10
J-J July '13, 5
230
240
215.7
r52,6 Beg. b US.Aug 26'1
16l2 Jan 31
Feb 11
77
100
—
2,000,0 '1.481,4
0
2,000,0
744,7
6
250,0 »•
115,0
200,0
7
101.2
0
200,0
no,6
5
*200,0
r48,6
200,0
7,7 Org. N
600,0
94,9
200,0
rl5,9 Beg. b
6
400,0
182.3
8
200,0
130.0
6
200,0
20.1
12
1,500,0 2,603,0
200,0
49,8 Beg: I
8
250,0
252.1
600.0
6
M81.1
6
100,0
20,0
8
4,500,0 2,102,0
10
600,0
396.2
Colonial Tr & Sav
2
661, Oct
Jan
Jan
J'ne 10
Capital
130
"'13",
Mch
44
5312 J'ly 25
145
EXCHANGE
July
J'nn
655s May
97
nk
Q-J
Deo-
95
Feb
14
NAME.
115
Q-M Mch31'13,4)4 428
Q-M Jne 30 '13, 2i2 330
12
12)4
Priv ate Ba
.667,7
8
8
831,5
U22.0 Org. N ov 25
u>229,7
8
Chicago Title A Tr
3
4
70
Mch
63
170 Western Stone
Wool worth, com
150
'13, 1)4 216
'13, 2)4 250
175
'13, 2
July
10
6H
k
Security
July '13,
Apr 13,
Q-J
16
Mch
77
49
212
Union Trust Co..
■V. 95, p. 1585 112
V. 95,p. 944 144
us. Oct 7'12
10
750,0
382.6
60,5
200,0
10,000,0 12,028,9
6
39
6
Apr 26
8
Do
rights
Unit Box Bd 5c P Co.100
*13, 1)4 218
Jan '13,
An
3
29
65
98i2 Jan
Southwest Tr A S
'13.
27
an.
Jan
Jan
71
125tj J'ne 10
100
U S Steel
Latt Paid.
July
2)4
>
897, Jan
73i, J'ne 10
J'ly
8
47i8 J'ne 12
Stockmen's Tr A S
American
1
Mch 18
Dividend Record
Surp. A
Profit* t
Oct
45
2
May
55
Mch22
Chicago Banks and Trust Companies
Capital
Apr
61
13
1,422
m m m m
*9
-.A-
135
Jan
l",525
5i2
5»4
July'13
575s 59
108U 108U
15
10i2
11
Sale 91*4 May'13
58
mtmmmt
Jan
135
103lf Jan
240 Union Carbide Co
6
5612
15
...J
'"140
155" 158"
Last Sale U,
u«
565,
108*, 108*4
"605,
mmmrnm
9
----
162
131
J'ne 11
J'ly 15
J'ly
Studebaker Corp com. 100
Do
pref
100
522 Swift 5c Co
100
2Qi2 May'13
104*4 104*4
1045, 1047S
1041, 1047,
104U 104*4
•2121, 235
*2121, 235
*2121, 235
*2121, 235
102
102
*102
103
103
103
103
103
163
Sep
j'ly
28
4,056 Sears-Roebuck
20
Last Sale 92
405
98
Do
1737, 1747g
Last Sale
126
Feb
94
Rumely
119
24
*86
June'13
91
119
_
•23
Feb
325
100
Pub Serv of No 111
June'13
91
91
Feb 11
600
97
preferred
100
*585 People's Gas LACoke.100
Apr-13
Last Sale 68i2
70
901,
129i4 Jan 30
18
Goodrich (B.F.) com. 100
Hart Shaff 5c Marx pflOO
65 Pacific Gas 5c El Co
1151,
68
901,
Oct
J'ne 10
J'ne
J'n«
Do
91l2
mm-m
62
47
100
pref
pref
National Carbon.
92
•14
9H,
60>z Jan
117« Apr
Mch
42
com
Do
41*4
*89
113U 116*8
57s Jan
Sep
< >ct
6
9ii Jan
3
Mch 18
Jan
11
25
130
Knickerbocker Ice pf.100
100
50
*4U,
Oct
Internat Harvester Col 00
July'13
43
J'ne
3
14U Aug
Hi, Jan
435
115 National Biscuit
113
*4U,
4
J'ne
46is Jan 31
81
f
100
445 llinoi8 Brick
May'13
43
6
•••»:
100
287 Diamond Match..
"30
971,
65U
Last Sale 114
116
Do
19*4 Nov
2
6
100
100
pref
Corn Prod Ref Co
Aug'12
♦113
115
18
2Uj J'ne 10
200
Last Sale 119
119*4
J'ly 24
81, Jan
4&8 Apr
Apr
93*i Jan
Jan
26 Chicago Title & Trust 100
3,966 Commonw'th-Edison. 100
June'13
100
Last Sale 76%
27
40
1043s Jan
38
Jan
35
53ia
June'13
*961,
65U
9712
Dec
Nov
45
143*4
99U 100
99i2
Last Sale 29
*96i2
May
83
"
J'ne 6
Mchis
45
Fisheries com-100
1st
90
40
July'13
Feb'13
Last Sale 10
100
Shipbuilding
Do
25
20
J'ne 28
40
"sit
Cal A Chic Canal & D 100
881 Chic Pneumatic Tool_100
205
Last Sale 77
64
161
78U
July'13
5Ha
6II4
Booth
June'13
76
75
3
Jan
6
9
J'ne
18U J'ly 24
100
pref
Amer Telep & Teleg
126*4JulyT3
Latt Sale 50
75
5i2 J'ne
2
Jan
102
100
Do
July'13
Last Sale 50
204iz *204
-
July'13
40 Amer
Latt Sale
18
American Radiator
100
Do
pref
..100
45
Jan 14
J'ne 10
88
"3"...
"4"
Lt_100
Miscellaneous
3,350 American Can
350
Do
pref
33*4
937,
30
91
24i2 J'ne
70
J'ly 16
100
"1"_._
Streets W Stable C L.100
Do
pref
100
926s
June'13
Latt Sale 97
57
139
139*4 1397S
•91,
*
67
32*,
32*4
92i2
Last Sale 130
130
45
*128
•12714 128
♦127U 128
*1271, 128
1281,
•49U 6012
*49U
5012
*4914
601,
501,
•49U
75
75
*74
75
•7414 75
•74
75
•
Mar*13
311,
921,
440
#
130
Nov'12
July'13
Last Sale 440
*421,
45.
97l2
I6I4
Last Sale 41
321,
440
3ia" July'13
Last Sale 6
32
pref
Rys part ctf
2,740 Chic Rys part ctf
25 Chic Rys part ctf
Chic Rys part ctf
""50 Kansas City Ry 5c
Do
pref
15 Chic
90*4
267,
Latt Sale 45
7
40
931,
♦
16U
emmmm
•0
•
33
321,
*921,
93
*30
7
40
201,
27
71,
71,
Last Sale
31,
101,
*15
mmmm.
*6
"257,
71,
*3
101,
*
94*4
Do
July'13
9034
20
Chicago Elev Rys comlOO
Jun '13
Last Sale 28
Last Sale 70
♦7
31,
130
*42l2
251,
71,
450
45
>97
"94*4
26
*3
612
40
♦....
30i2
05
*7
....
•6
612
40
*-•»•
85
*15
*30
•6
25i2
7i2
3i2
30
85
30
♦941,
261,
♦15
....
•
*---*--..
interest
m uat
be added
t
o
all Chicago bor
d prieee.
Bid and asked prices; no sales were
made on this day.
t June 4 (cloee of business) for national banks and June 5 (opening of business) for State institutions.
£ N,
price Friday; latest price this week.
I Sept. 1 1911".
II Dividends not published; stock all acquired by the Continental A Commercial National Bank,
a Due Dec. 31,
> Due June.
c Due Feb.
d Due Jan. 1.
e Extra dividend.
h Ex-rlghts.
< Capital to be increased to $1,000,000; V. 97, p. 155.
x Sales reported bfr
finning April 18.
p June 27 1913.
4 Dividends are paid Q.-J. with extra payments Q.-F.
r April 5 1913.
s Capital increased to $300,000.
V. 96.p. 1464. 11Si,
( Dec. 311912.
« Apr, 30 1913.
f Ex. 24% accumulated div.
w June 30 1913.
g Nov. 20 1912.
, Feb. 5 1913.
f
Jvly 26
CHRONICLE
THE
1913.1
Volume of Business at Stock
229
Bid
Telegraph and Telephone
Exchanges
Ask
TRANSACTIONS
THE
AT
Central A South Amer.100
104
(N Y)„.25
100
110
60
72
Franklin
"■
<kc„
State
V. a.
Bonds.
Bonds.
Bonds.
Week ending
Value.
Par
Shares.
July 25 1913.
Mackay
67
60
25
~63
Teleg
121,410
342,718
511,152,500
32,273,050
Tueeday
291,159
308,105
27,280,775
17,976,500
28.306,600
394,832
36,675,700
Friday
Total...
' 1,414,000
,
1,582,000
York
New
Jan.
Week ending July 25.
w-
Stock
1913.
Exchange.
Balto A Ohio 5s 1914...J-J
Bklyn Rap Tr 6s 1918—J-J
Ches A Ohio 41*8 1914..J-D
Par value
51.000
520,000
679,000
623,000
8,711,500
56,858,779,025
8.144,500
593.900
5349,400
51,029,000
15,024,000
435,980,000
Bonds.
Government
bonds
State bonds
RR. and misc. bonds..
Total
bonds.
5452,033,000
BOSTON AND PHILADELPHIA
AT THE
TRANSACTIONS
DAILY
5311,455,900
58,787,500
$9,436,500
.
99
British Col Copper Co
Brown Shoo com.
Saturday
........—
120
127
129
20
30
95
97
100
90
95
list.
Shares.
Shares.
Shares.
Sales.
Consol
Car
85
Consol
9912
99*1
92
96
9512
96
Wednesday.........
Thursday
4,851
11,077
9,549
Friday
13,444
6,304
9,564
.
2,215
9,959
8,195
6.218
14,900
Southern
Ry 6s
43,600
West Maryland
5%
98
99
46,144
131,
100
60
75
;
Debenture 4s 1951...A-O / 60
40
Continental Can com
100
60
j
46
j
9934
Empire Steel A Iron
are
now
Bid
67
96
x
New
York
City
'
60
Cent
50
56
100
100
96
98
95
97
100
2
5
100
6
10
stock—100
4s
101
102
1
110
90
104
88
881*
82*4
34
Eighth Avenue 8tock___100
275
100
300
99
F-A
etock___100
Ave___100
Scrip 6s 1914
113i2 1141*
160
650
660
100
Manhattan Shirt
..100
L
99
101
100
....—.100
64
66
88
95
100
77
781*
50
Gas A Elec cqm
50
Preferred
Preferred
.
mer Power A
Preferred
*75
77
*45
~
ll
♦8*
5
Brooklyn
~75
101
'31 A-O
A-O
98
95
98
Brooklyn City RR
150
155
Bklyn Hgta
Coney Isl A
10
1st 5s 1941. A-O
Bklyn
—100
100
102
98
101
80
87
100
104
54
57
—100
75
Ry A Ltg com—100
Preferred
—100
65
77
681*
100
308
315
95
99
131
Ohio Copper Co
312
•
Silver..—.
100
183
Otis Elevator com...
342
143
171
m
105
30
31
-100
2d preferred..
.10,0
Royal Bak Powd com... 100
96
100
361
♦695
100
144
146
Ohio...100
268
275
...100
.185
195
Standard Oil of NY
81
97
93
95
T4M-N
Oil of
83
Standard
93
Swan A Finch
90
100
100
350
100
86
88
Washington Oil
1946—J»J
80
83
Waters-Pierce
127
Union Tank Line Co
132'"
180
185
124
42
100
68
100
174
176
,——10
•27
"
—
Oil...
100 1500
Preferred
«
Sears,RoebuckACo—SeeN Y
Tobacco Stock9
140
150
100
SO
55
65
100U
Conley Foil
102
108
•
88
92
Amer
Cigar com
—
Preferred
British-American
1937.-A-O
100
Tobac.£l
♦225*
2234
78
_
35
40
105
111
70
90
95
100
Texas Pacific Land Tr.100
90
95
100
(Geo W) com..100
270
290
Texas A
Pacific Coal
140
165
e
100
100
115
TonopahMln(Nev)-£eePhila
160
180
Trenton
92
MacAndrews A Forbes.. 100
180
200
95
Porto-Rlcan-Amer
Tob.100
190
210
Trow
Reynolds (R J) Tobacco. 100
Tobacco Products com.. 100
Preferred
100
240
250
120
85
87
United Cigar Mfrs com 100
42
45
100
95
m
42
87
88
85
90
Helme
«
Preferred
.
95'
♦101*
37
86
90
78
79
31
<
11
♦36
32
«
Preferred
United Cigar Stores
com.100
e
Preferred
1st A ref g 6s 1941
J-J
M-N
107
Republic Ry A Light. __ 100
Preferred
100
Tennessee Ry LAP com. 100
Preferred
100
15
18
701*
72
Light—..100
1943—J-D
90
100
rnmrnm
mmmm
»
m
m
iooi*
.
104
....100
100
45
U S Envelope
U 8 Express..
120
U S Finishing
170
Preferred
100
22
25
lat g 5s 1919
J-J
J-J
85
92
100
.100
28
30
80
100
1911
113
115
Col s f Apr 5* 1951 not opt
113
lift
15
Young (J S) Co
....—100
Industrial&Mlscellaneous
45
« Adams
..100
125
90
Alliance
Express
1947—....J-D /
...100
Realty
Preferred
Book
130
76
77
105
Con
♦45
471*
•
g
....
5s 1929
US Indus Alcohol
110
60
...—60 •J50
160
100
«
Preferred
Col * f Apr 58 1951 op
52
American
American
134
137
U S Tit Gu A Indem
195
198
«
M-N
American Chicle com
95
98
•
N Y A Hob 6a May '46..J-D
Hob Fy 1st 6s 1946.-M-N
102
150
158
J-J
96
100
1st mtge 6s 1919
J-D
Union Ferry stock——100
25
35
60
58
American
120
127
22,
25
Amer
96
99
Amer
1st 6s 1922
98
10th A 23d Sta Ferry
1st 6s 1920.
M-N
100
«
Brass........100
100
Preferred
—.100
American Express..... 100
—100
Hardware—..100
Malting 6s 1914—J-D
Press Assoc'n
100
Virginia Iron C A C
Wells Fargo A Co..
Westchester
80
Preferred
e
40
Westlngh'se
.
5
68
,
Bronx
Air
82
100
100
100
"40i*
94
50
100
Title
.—.100 165
Brake.50 •1261* 128
65
68
100
85
90
Preferred
Worthington(HR)Co pf.100
b Basis, k Listed on Stock Exchange but usually inactive, f Flat price, n Nominal
Includes all new stock dividends and subscriptions.
• Listed on Stock Exchange but
ft Ex-300% stock dividend.
60
50
Willys-Overland com—.100
99*4 101
35
A
A Mtge Guar
50
Am Graphophone com. .100
31*
U S Steel Corporation—
170
Amer Bank Note 00m
95
l05~
115
80
J-J
115
300
9
N Y A N J 6s 1946..,.
z
Preferred ........—.100
U S
60
16
Ex-rights,
99
Casualty..........100
com..—..100
200
102
72
And accrued dividend,
97
190
7
14
Paaqr. will be found oa a preceding page,
—.100
50
N Y A E R Ferry
95
Goods..—100
stock—100
BAN Y lit 6* 1911
70
~9o" Too"
...100
Preferred
United Dry
e Preferred
109
77
Ferry Companies
Directory
109
441*
op-J-D
7
65
220
131*
Col tr g 4s
84
11*1
50
new——
100
140
Western States Gas A El—
10U*
x
100
——.100
Preferred
e
E
4
100
Weyman-Bruton Co
mmmm
Pat Ry con 6a 1931—J-D
2d 6s 1914 opt
A-O
95
90
Stk
Potteries com—100
100
Preferred
•
831*
76
100
Preferred
m
74
United Copper—....... 100
100
41
100
Elec—100
Preferred
Pat A Pas Gas A
99
97
100
'
m
299
...100
Sulzberger A Sons Co pf.100
Bros pref
Johnson Tin FoilAMetal 100
*
100
1938A-0
Pacific Gas A E com
100
77
751*
list
X
,....100
Preferred
Stern
Newark Consol Gas.
~
E
Us t.
Ex
296
120
Narragan (Prov) El Co. 50
Newark Gas 6s Apr '44.Q-J
64
Stk
Preferred—See Chic Stk
Singer Mfg Co
100
Standard Coupler com—100
90
Amer Machine A Fdy—100
67
90
110
108
Safety Car Heat A Lt.—100
"90"
66
,85
102l2 104
100
list
Co com—See StkEx
32
«
110
...
Rumely (M)
1600
(See also Stock Exchange List)
—
...
1st preferred.
70
Vacuum Oil
128
38
Gas—R 0
100
F-A
Preferred
(old)..100 1055
Standard Oil subsidiaries...
95
J-D
preferred.. 100
Madison Gas 6s 1926.-A-O
mm
98
130
100
RemlngtonTypewt'r comlOO
Realty Assoc (Bklyn)...
•Laclede Gas
77
73
v
100
363"
4s 1958 opt
"66"
100
115
a
12
34
101
Pope Mfg Co com.—.—100
No Hud L H A P 6s
Trac—.100
Gu g 6s 1963
M-S
No Hud Co Ry 6s 1914 J-J
Ex-div.
10
30
100
Pratt A Whitney pref
Producers Oil.
Stand Oil of N J
95
,100
415
Stand Oil of N J
37
93
Pittsburgh Steel pref..100
300
315
14
♦131*
♦36ig
50
Preferred
•
*
75
preferred
292
Jackson Gas 5s g
m
So J Gas El A
*
148
1st
308
Indianapolis
Gas....— 60
lat g 6s 1952
A-O
89i4
102*4 103*4
100
J C Hob A Pat 4s *49 M-N
* Per share,
23
...100
Pittsburgh Brewing——50
335
mmmm
Mabeldiaries.
96
15
404
100
Stk E x list St Joseph Gas 6s 1937—J-J
Pub Serv Corp of N J—See
Standard Gas A El (Del) 60
102
105
Tr ctfs 6% perpetual
Preferred
60
76
No Jer St 1st 4s 1948 M-N
74
72
United Electric of N J—-100
Cons Tract of N J
100
1st g 4s 1949
J-D
1st 5s 1933
J-D
991* 1001*
United Gas A Elec Corp.100
103
New'k Pass Ry 6s *30.J-J
Preferred
.......100
234
Rapid Tran St Ry—..100 230
Western Power com
100
103
100
1st 6s 1921
A-O
i
75
94
e
173
331
71
Pettlbone-Mulllken Co 100
•
95
100
100
.....100
Preferred
196
Sou West Pa Pipe Lines. 100
Standard Oil (California) 100
Ontario
2
*
21*
2
A178
100
Refining
..100
Indiana Lighting Co
mm
*1*
335
Southern Pipe Line Co.. 100
South Penn Oil
-.100 1193
♦
90
Rights..
Stand Oil of Nebraska-.100
70
100
•Toledo Rys A
5
82
Stand Oil of Kentucky..100
Hudson County
78
New Orl Rye A Lt com _ 100
Trent P A H 6s
♦4
,76
10
Standard Oil (Kansas)
—
401,
20
Y Transportation
11
95
20
5
Niles-Bem-Pond com...100
N
73
2612
75
100
Louisv St 5s 1930—J-J
1924
100
Co..100
Gas A El Bergen Co
103
6s
90
40
75
Gr't Weat Pow 6s
Con M 6s 1928
190
10i4
'
Ext
185
38
Essex A Hudson Gas.
102
mm
N Y Mtge & Security... 100
N Y Title Ins Co
100
121
Preferred
e
70
Elizabeth Gas Lt Co
Other Cities.
~
25
♦*117
Denver G A El 6s 1949-M-N
25
170
100
149
71
1st A ref 5s '29 opt
95
66
,di-
144
Stand Oil of Indiana
Consumers Power (Minn)—
103
92
*11*
100
160
100
Solar
*
.70
102
20
«
New York Transit Co
195
,..100
188
♦
190
National Surety
.100
New York Dock com.. 100
183
25
202
98
Mortgage Bond Co
•
50
79
78i2
197
50
Manhattan Transit
66
345
Line Co.
120
100
100
100
6s 1938
83
ICO
mmm
62
60
78
msumers' L H A Pow-—
78
100
Federal Light A Trac—100
Preferred
100
♦58
108l2 110
.100
Preferred
100
1st 5a 1927
—J-J
Con Guff of N J 6a 1936—J-J
Preferred
olumbia Gas A Elec
97
99
198
335
Northern Pipe Line
Ohio Oil Co....
Lt com..100
m
.
193
'25 ♦129
305
Prairie Oil A Gas.......100
1021*
Other Cities.
95
Detroit United Ry
t
Line Co.—50
100
National Transit Co
103
• Conn
90
...100
GO
Indiana Pipe
90
•Nor Ohio Tr A Lt com
•158
40
—_j—.100
100
Preferred
300
25
Preferred
)
'43.J-J
RR 6s 1946. A-O
•
20
595
280
8
106
IN Y State Rys com
•19
585
Oil
4
511,
123
125
International Silver pref.
£1
Preferred
350
Bull St Ry 1st con 5s '31 F-A
Com'w'lth Pow Ry A L-100
share
101
...A-O / 49
..100
Buckeye Pipe Line Co...60
Chesebrough Mfg Cons. 100
30
U2
891* 100
--J-J
Con g 4s 1965
J-J
Brk C A N 6s 1939
J-J
Nassau Elec 1st 5s 1944 A-O
N W msburgh A Flatbuah—
lat 4^8 July 1941___F-A
Btelnway 1st 6s 1922
J-J
Per
;
Salt..'
1st g 5s 1951:
...100
80
103
1st cons g 4s 1948
83
81,
71*
100
com...
100
1st 6s 1948
.....J-D
Internat Smelt A Refg—100
Lanston Monotype
100
Lawyers' Mtge Co
100
Lehigh Val Coal Sales
60
1
Westchester 1st 5s
"80 "
1933..M-S
70
104
•
3
1st 5s
60
340
•
100
Preferred
'
111 C stk tr ctfs Ser A—
50
20
—
99
International
Railroad Securities Co—
170
160 ~
80
Preferred
..100
85
•
100
Galena-Signal Oil com.. 100
200
•
1211,
Crescent Pipe
5
Havana Elec Ry L A P
120
Eureka Pipe Line Co
76
•
100
Cumberland Pipe Line..
220
e
International Nickel
100
Twenty-third St stock—100
Union Ry 1st 6s 1942__F-A
•
62
1021*
Tarry WP A M 6s '28—M-S
18 A 29th Sts 6s '96 ctfs A-O
Preferred
♦57
152
98
Atlan Ave RR con 6s
110
.—60
98
100
J-J
1945
—
A-O
B B A W E 6s 1933
105
Continental
90
Yonkers St
100
25
M-S
Ninth Avenue stock
100
Second Avenue stock—100
Conaol 68 1948 ctfs__F-A
*81xth Avenue stock.
100
Sou Boulev 6s 1945.—.--J-J
SoFer 1st 6s 1919
Internat Banking Co
145
F Y A E R Gas 1st 6s *44 J-J
Consol 6s
1910
6s
J-J
1st consol 54 1948
1001*
240
220
42d St M A St N
1st
31
Colonial
100
99
"
Intercontln Rub
•28
Standard Oil Stock*
102
89
100
I02"" 104"
Borne-Scrymser Co
.J-J
40
35
100
IngersoU-Itand com...100
Preferred
31,
214
Hocking Val Products.. 100
1st g 5s 1961
J-J
«
100
15
Pitta Bess A Lake Erie...50
West Pac
York City
100
Northern Securities Stubs..
77
100
29
42d A Gr St Fy
preferred
2d preferred
1011,
7
Hoboken Land A Improve't
1st 5s Nov 1930
M-N
•
100
1st
Anglo-American Oil
Atlantic Refining
97
Scrip 6s 1914
64*4
8314
—100
Preferred
1—F-A
•
65
53
preferred
Preferred
20
New
Dry Dock E B A Batt—
1st gold 6a 1932
J-D
65
«
125
1st mtge
100
100
1st
2d preferred
100
..M-S
Herrlng-Iiall-Marvln -..100
NY Chic A St L com—100
91
J-D
1961
140
•
•
3
Christopher A 10th St stklOO
97»
3D*
rVest Penn TrAWatPow 100
10
mm mm
6s 1922
M-N
Cen Pk N A E R Rstock.100
9*4
31U
100
Co
Preferred
98
134
;
1st 6s 1922
3U*
73
100
Vaah Ry A El
...100
Hecker-Jones-Jewell Milling
140
Preferred
'
62
1st g 5s June 1 1922.. J-D / 57
25
120
66
e
Preferred
•
99U 100
--J-J
Croestown
160
69
100
100
Com rot tr ctffl
63
140
1050——J-J
B'y A 7tli Ave stk_.__._lUO
2d mtge 6s 1914
J-J
Broadway Surface RR—
1st mtge 4s
1st 5b 1924
18
15
Bleeck 8t A Ful Fy stk. .100
75
83
preferred
2d
20
si*
181*
——100
A Om....100
•
74
105
....100
1st preferred
30
69
preferred
2d preferred
Jnlted Rys of St L—
Preferred
•
list
65
Alt
100
100
1st
102
13
37
Ref g 4s '52 op 1912—.J-J
Hale A Kllburn com
100
Colo A South com.....100
•
Street Railways— (Con )
185
Preferred
• Preferred
• Chic St P M
Jnlted Lt A Rys com—_10<
Ask
Bid
Street Railway*
175
100
..1
• Hackensack Water Co—
99
E
Stk
Chic A Alton com.....100
■
"and Interest" except where marked ' f
90
100
com
Havana Tobacco Co
«
price*
33
78
99 I4
98
Westlngh'se El A M 6s 1915
•
bond
_
General Chemical com. 100
e
Railroad
All
95
100
100
.
"27
98lg
94
*2^6
127
124-
100
Preferred
Preferred
5170,200
Inactive and Unlisted Securities
Preferred
e
141,
87l4
100
...
Davis-Daly Copper Co
10
duPont(EI) deNem Pow 100
98i2
97i2
988*
97l2
Preferred
"l4
100
com.
Emerson-Bran tlngham
75
84
——100
Crucible Steel
75
6s
Heating..
Preferred
9912
993g
"
43,727
580,700
40,416
60,665
—
75
171*
993g
9712
5% notes Oct* 17—See N Y
Total
97
70
•
99
5s 1915.J-J
.45,900
92
100
5%
6%
•
~53 —•
100
•
b 5.50
Sept 1 1914 opt
M-S
Seaboard Air L Ry5sT6 M-S
South Pac Co5s J'ne 151914
47
Preferred
Preferred
b 5.50
1916.. K-A
7,981
7,457
6,001
6,822
10,390
31,200
11,576
10.5S5
.
511,100
14,800
23,600
Cluett.PeabodyA Co
9513
b 5.50
N Y N H A Hartf 63 *13.J-D
com 100
Rubber Tire
94
NYC Lines Eq 6s
N
9912
90
1916.M-N
Missouri Pacific 6s 1914.J-D
82
100
99i2
99
Mo Kan A Tex 6s
80
80
'
80
preferred
99
1912..M-S
Lake Sh A Mich So 4i2e.'14
Michigan Central 4i2s_ 1914
Minn A St L g 6s 1914._F-A
C Ry A Lt 6s
75
100
2d preferred
80
'15-F-A
6s
Harvester
1st
•
98i2
93i2
98i2
J-J
Nor,6s 1914..F-A
Int A Gt
Inter
•
1914
4Mb
'■
100
ClafUn (H B) Co com..100
«
100
98
1913—A-015
15
Cent
K
Preferred
Companies—
Oct
Salts.
11,200
19,100
18,500
214
110
Bond
15,000
83
100
Unlisted
12,436
48
82
..100
Listed
10,306
.......
Tuesday
♦2
42
100
Preferred
Celluloid Co
8t L A S F 6s 1913 opt.J-D
Monday
5
..100
*
Casualty Co of America. 100
Bond
2,472
108
City Investing Co
4>4* Jan
52,000
119
105
9914
111
•
Philadelphia.
2,363
8,412
8,922
116
9912
1913-22
1914-1925—.J-J
1914-1927—-J-J
Y Cent 4>*s 1914
M-S
41 *s 1915M-N
5s Apr 21 1914
A-021
3,853
130
295
100
95
81
122
290
94
Unlisted
Shares.
"79"
..50
com
Preferred
97
U«
10
65
92
6a
Week ending
July 25 1913.
2
....100
9812
4Ha Jan
Listed
100
com
98U
1914...J-J
1914..A-08
I 1914...A-0
April 1 1915:
A-O
6s April 8
Hudson
EXCHANGES.
Boston.
98
971*
9834
94i2
96l2
1915..M-S
Copper 5a
Gen'l Motors 6s '15—See NY Stk Ex
5776,600
18,614,200
292,066,100
58300
5146,000
Bank shares, par
.
1
Coll 6s
76,835,368
50,178.443
54.523,761,800
100
Coll 5s Oct
Erie
25.
1912.
1913.
1912.
1.214,360
1,648.899
$150,665,025 5110.164,000
Preferred
Short-Term Note*
.
Stocks—No. shares
96
100
Bliss (E W) Co
41,000
July
93
97
Preferred)
__50
Bond A Mtge Guar..... 100
Borden's Cond Milk com. 100
5146,000
to
Barney A Smith Car
75
45
100
94
Amal
1
42
-
41,
M-N
6s 1939
g
95
Southern A Atlantic
ChlcElev Rys 5s
Sales
Typefounders com.100
Deb
90
141,600
58,711,500
190,675
—
195
4
80
30,000
1,847,000
1,648,899 5150,665,025
Wednesday
Thursday
1,819,500
185
5
25
e Pac
1130,000
84,000
36,500
66,000
121,000
1,455,000
69
50
Telep A Teleg pref-100
516,000
3,000
16,000
40,000
5579,000
5594,000
Monday
64
Amer Writing Paper
120
100
96
F-A
Preferred
64
Pacific A Atlantic
Saturday
Amer
~77~f2
Northwestern
•
60
76
A**
Bid
Fdy 6s 1935.A-G
American Surety..
American Thread pref
Cos com.....100
Preferred
100
•
Steel
Deb 4a 1923
115U
Gold A Stock Teleg... 100
•
Railroad,
40
...100
.i
•
Stocks.
6
Am
106
Comm'l Un Tel
YEARLY.
AND
Amer
Empire A Bay State Tel.100
STOCK EXCHANGE
YORK
NEW
WEEKLY
DAILY.
Indust and Miscell—(Con)
66
55i8
Teleg A Cable—100
•
•
7ft
s Sale price. « New stock, ti Ea»!
Infrequently dealt In; record of
BOSTON STOCK EXCHANGE—Stock" Record.
230
Saturday
July 21
Week.
EXCHANGE
July 25
Thursday
July 24
Wednesday
Tuesday
July 22
Monday
July 19
STOCKS
BOSTON STOCK
Friday
Shares
CENTUM PRICES
PER
PRICES—NOT
Sales
0/the
SHARE
July 23
•185
•250
62
•7*2
15
"l5
•55
52"
♦42
"
*50
♦42*
52"
♦98
9S*4
*98*4
99
98*4
•98
98*2
♦98
98*2
20
61
62
Last Sale 260
*55"
H2~
52
•164
160
♦164
*164
104
♦104
♦104
Last Sale 43
•200
100
100
•115*2
•81*2
•
*101
101*2
*114*4
•114*4
82*2
82i2
~82*2
101
•70*2
71*2
103*2 105
*14*4
16
72
71*2
1037g 104*4
*101
71*2
101
102
83
83
83
♦100
101
71*2
*71
100
10234
10134 104
1%
2i4
71*2
100*2 103*2
1*4
2»X«
1&
1»4
•101
165
*161
165
*161
♦27
31
♦27
31
•127
*127•
*127
*127
..
♦71U
"72"
72
72
71*4
*71
72
*71
86
*80
90
♦86
90
*86
90
♦80
48l2
9278
46!%
92*4
46*8
9278
47
47
47
47
48
93
93
94
93*4
94
3i2
♦3
47*8
48
93*2
9378
3*2
312
18*2
19
1103, 111*4
48
93
218
Dec
300
Dec
14
94
290
Jan
290
7*2 Feb 19
67*2 J'ne
5
Feb 25
65
43
45
10
7*2 Feb 19
Men
J'ne 19
Apr
May
80
70
7*4 Mch
Mob
Jan;
100i2 Jan:
Doc
7
Dec
12i2 Jan
Aug
May
67
-
Jan 24
50
J'ne
Jan ■'
Jan
165
112
J'ne
J'ly
272
Jan
122
Feb
8
119
Dec
128
Jan
120
Feb 10
124
J'ne
8179
85
Mch 27
83
Dec
110
Mch 13
126
Deo
16
Dec
J'ne28
79
Feb
99*2 J'ne 12
130
Jan
88
7134
Nov
Dec
Jan
I0?i2 Oct
100
100
AElec stmpd.100
pref
100
pref stamped .100
...
19*8 Feb
1*4 J'ly 22
126
„
130
J'ne21
Mayl5
176*t Feb 11
36
Mch25
*•174
30
139*2 J'ne 12
80*8 J'ne 10
130
May 15
162U Jan
90*i Jan
150
Feb 27
152
85
204 Amer Agricul Chem
Do
662
pref
100
100
a91
175 Amer Pneu Service
Do
191
pref
60
...
Feb 21
Feb
142', Apr
143
Jan",
187
J'ne
41
Jan 1
70
Jan
Dec
Jan
176*4 Sep
937, Deo
89ig Sep
.
Dec
104
8
80
Oct
3
90
Nov
8878 Feb
103*2 Mob
57
64
Dec
69*4
41,
2334
118*2
117*4
J'ly
J'ly 15
70
50
pref
83
Dec
128*2 Oct"
J'ne 25
158
..100
98
Dec
105
Mch
3
Aug
14
Mch
6*4
24i2
133&8
12334
J'n*
NOV
May
Aug
81*2 Feb
Jan
100
150
Jan
Miscellaneous
47ia
92*4
*3
312
♦17
18
113iz 113i2
127*4 12778
18
701a
76*4
'
114*2
127*4 128*8
*16
17*2
76
76*4
18
18
110
114
111
18
110*4 111
114*4 115
128
1283,
11414 11412
128*2
128
*10
"76*,
3*2
3*2
3*2
17
18
•17U
1091, 110
10912 110
♦16
*3
7*6^
75*4
*60
65
♦60
65
♦92*4
95
*92*4
95
92*4
76*4
7
*6*2
7
T£
13
11
•10
270
275
275
275
275
272
272
*272
140
91
•3ig
312
91
90i2
90*2
*212
•20
•07
91
91
91
218
90
213
•3*8
27
27
•100
145
153*4
15
104*4 104l2
27
♦20
27*2
**4
1
1551a 157
4512 45*2
•201a 27
551X 56
100*2
Si",
3*2
89
S*v
2712
66"
164
89
89
145
*143
153*4 1537,
15*8
♦15
104
1041, 104*8
154
•15
15*8
104U 1045,
27
27
*27
27
27*2
♦—•"
27*2 *.
"l
162
102
163
162
163
27
56
46
46i2
46
46*2
46
46
27
46
4512
27
27
27*4
•27
6714
56*4
5778
106U 106*2
66*2
106*2 106*2
106*8 106*4
106*8 107*4
pref...
Mexican
1*2
290
♦1*8
1*8
•267
285
N E Cotton Yarn..
1744
•1*4
32*4
66*4
18*8
1*2
33
33
3
♦1*4
3378
67lS
6712
68*8
68*4
1*8
34
68*2
20
20
20
20*4
3
20
20
*27j
•;65
1*4
267,
0U2
•425
•11*2
18
18*
1«£
3
212
1»
.95 •.70
lk
27
61*4
430
1
1*8
28*4
*1*4
27*4
6H4
27,
35*8
35*8
355s
40
39
39*4
13
35*2
39
39*4
"10*4 "lb"*;
♦5*8
571,
6*4
16*2
30
39*2
•2*2
"10*4 Yi
5*2
5*8
5812
7
17
58*4
6*4
10*4
5*8
60
7
17
...
11
12
5
5
138 Pullman Co....
100
80 Reece Button-Hole.. 10
100
25
25
pref
Do
147
pref.
*6
47V
"".00
5*2
47*4
7-40"
"".40
*5*2
6
47*4
•47
58
67,
16*4
•30
30
612
♦47
80
80
81
19*4
3*4
1*4
678
4*8
6*4
20*4
3*4
20*4
20
20*8
?'
•21
•.69
3
7
*612
22*4
1*8
•1
15*8
178
8*s
26*4
*1*4
♦.65
,
4512
153g
2
S3g
2634
212
1
45
45
76*2
77
78*2
3*8
334
187s
•58*2
17*8
60
17*4
17*8
177S
•35
36
35*2
3512
♦1«4
7*4
19*4
60
2
2
2
7*4
233s
7*4
23*4
7*8
23*8
*.15
"25*2 "25*2
2*2
•
29
3*2
•1
4
1*8
36*2
401,
*1K
37
43*2
46*2
1*2
8*2
4334
1
1
8*8
1*2
45
1*2
45
»4
•
1934
60*4
Bid and
26*2
2%
29
4*4
98
36*4
46*2
45
2
2
*1*4
**a
334
45*2
7834
1978
60
17*2
35*2
1*4
7*4
24
.25 *.15
43
44
16
16
16
1*4
8%
26*2
1®4
♦83s
1*4
8*2
2578
♦1*4
-26*2
2*2
1
♦.65
.
334
46
3*8
45*8
3*8
46
78*4
76
78
20*4
20
60
1734
35*2
35
1*4
17,
7*2
25*4
24*2
.25 *.15
2%
*234
2%
29*2
28
28*2
46i2
4*2
412
.95
3634
46*2
1*8
1*4
1*8
9
45
45
45
*1
1*2
134
47*2
60
1*2
H4
1*4
47
.70
134
47
*4
134
36*8
46*2
134
1*4
7*4
25*4
56*4
4i2
1
1S38
*1%
7*4
26
1
2%
2*4
•27*4
28*4
43,
43g
36i2
37
4678
17g
47
9
9
46*2
46*2
2
44
45*2
•*2
a.4
1
35*2
9
*1*4
*4
160
25i2
1
1*4
4*
**2
5 Exsatock dir.
17g
934
46*2
3^
-
1,010 Shattuck-Arizona——
South Utah M & S
25
240 Tamarack
25
1
50
50
5
360 Utah-Apex Mining...
,
1,105 Utah Consolidated...
629 Utah Copper Co
Victoria
415 Winona
b Ex-rlghts.
430 Wolverine.
*4
a
10
10
5
678 Trinity
*—
1,000 Tuolumne Copper—.
1,165 U S Smelt Ref & Min.
Do
494
pref.,
241
134
44
**2
10
25
1,525 Superior & Boston Cop 10
1*4
44
25
""774 Superior—
I1/. IK.
1*4
44
25
25
10
Mary's Min Land. 25
Santa Fe Gold & Cop. 10
890 Shannon
47
1
2,130 Pond Creek Coal...*
229 Quincy
540 Ray Consol Copper.
7*4
46*2
*1*4
.95
Colony
577 Old Dominion Co..—
2
26
25
46*2
1
610 Old
25
25
235 St
Jun '13
4
45*4
45
57
36
2
"""50 Ojibway Mining
35
47*2 Jan
—--
Ex-dlv. and rights.
-
*
73*2 Jan
33
Jap
2
2
Jan
9*2
2
17
59
2
22
Apr 28
a4
18
3
.70
Deo
Jan
Jan
2
11*8 Sep
40i2 Jan
4
87i2 Jan 10
33'8 Jan
2
14
11
10
10
J'ne 24
42
J'ne 10
65
13
J'ne 10
1934 Jan
i2 J'ne 10
8*16 J'ne 10
2*» Jan
2134 J'ne 10
May! 7
34*2 Jan
.99
J'ne
6
Apr 30
4134 J'ne 10
73*2 J'ly 12
15
J'ne 10
55
J'ne 11
15*4 J'ne 10
J'ne 30
33
J'ne 12
6*4 J'ly 10
21
22
Feb 19
Jan
lKiJan
21
8
J'ne 10
2
J'ne 10
3
May 15
.60
J'ly 23
34
J'ne 10
Apr
Jan
Jan
1*8 May
714 May
3
8
2
2
4
914
18i2
3038
5i2
J'ne
Jan
Apr
Sep
Apr
73
J'ne
Dec
534
2234
2*8
1*2
258
7
Jan
Jan
Deo
Jan
2
8
14i 2
Dec
234
2338
lsg
50i2
18*4
J an
Feb
Dec
Dec
Jan
Jad
2
44
Jan
2
100
Dec
28*4 Jan
2
15
Mch
2
3
72i2 Dec
10t8 Jan
9j
3
Jan
3
43
Dec
67
3
Jan
2
1
Jan
13*2 Jan
2
28*2 Jan
3
.35
Jan 18
9
Jan
47,
177|
34i2
1*4
4878
47g
Apr
J'ly
Jan
51
Apr
40** Jan
e43, Feb
Jan
6
Jan
33
17
Feb
*4 Dec
2
24
Feb
4
1
Dec
3
26
Jan
9
4
Dec
"
3*2 Jan 28
2i2Deo
43*2 Jan
Jan
2
34
Jan
6
47
238 Jan
3
1
Jan
Nov
H14 Jan
Jan
2
9*2 J'ly
2
Jan
2
52i2 Jan
134 Dec
4*2 Jan
Jan
2
3
66
Dec
9
1
Dec
25
25
2
w
J'ne
Jan
60
9 2d paid,
Nov
Jan
J'ne 10
9
Oct
29
80
J'ne 10
»J'ne
64
130t2 J'ne
46
40
1
Sep
Apr
Deo
Oct
834 Apr
e634 Jan
1314 May
243s
6*4
914
3938
22
50
40*4 J'ne 12
May
Apr
Apr
5
3*4 Jan
83, Jan
66
Jan
107
Jan
7
6
6
25
Apr
j'ne
Aug
Nov
Feb
6534
9U4
87*4
Si8
49
li2Jan
45*2 J'ly
May
23
Jan
.
Apr
10*4 Dec
912 Mch29
234
Nov
Sep
2
4G Feb
2
2
J'ne
80
•
22'4 Deo
.80
4
,
Jan
2034 Jan
2
Apr
Nov
Oct
37
■
Oct
85
3% J'ly 25
3®8 Feb
4
26i2 Jan
3
6*4 Jan
3
10*2 Jan
2
5*2 Jan
2
15*4 Jan
2
26*2 Jan
3
23
19
4
12
7*2 Mch
May
Jan
Aug
1034
16*4
7784
11*8
Feb
7*2 Feb
Apr
Sep
2712 Apr
6014 Nov
00*2 Apr
Feb
2
.90
Unstamped.
25*4
J'ne
Apr
J'ne
015
15*2 Dec
2
Jan 27
Ort
078
914
634
6134
8312
Feb
405
0
.95
u
35
Jan
19*2 Feb
57*2 Feb
2
May
SO*, j'ne
926, Oct
4i2 Dec
2**10-J'ly
15's Jan
9
Jan
10
25
...
225 Wyandott.
5
2
i)
9
258Jan
138 J'ly
5*8 J'ne
3*4 J'ne
47S J'ne
2*4 J'ne
5*2 J'ne
20*4 J'ne
.20
Feb
3*2 Oct
1214 Jan
678 Sep
J'ly
1
J'ne 10
16
1
Deo
4812 Dec
i4
79
11*4 Apr
J'ly
24i2 Feb
2
4
512 J'ne 12
3
Dec
60
Jan
53
35
Copper 25
208 Nipissing Mines
5
15
5,125 North Butte..
Nortn Lake.
.....
25
~~~8*4
2
35
2
25
25
3 70
72i2 Jan
Jan
18
Jan
May 8
3i2 J'ne 27
4414 J'ne 12
25
25
25
5
Apr
4
277g Jan 10
1
25
Dec
2
25
25
1
6
300
J'ne 10
14
Apr
334 Apr
208i2 J'ne
67*2 Aug
2984 Sep
80*8 Sep
1103, Oct
3
Jan
4
10
25
5
-
Mohawk
..
183g
.555
51
Jan
31
Jan
4
>
Feb
Jan
J'ne 19
—-
...
303 Osceola
35
25U
2578
234
27*4
20*4
45
25
25
5
25
'""768
76
20
178
7*4
Last Sale
25*4
234
27*4
43,
*34
76
9
ajkod prices. _# Aaa't
paid.
4*2
.80
36*4
46*2
9
45
25
.25
234
29*a
4*4
9
•70
178
7*2
234
29*2
134
44*8
35
2534
36*8
46*2
3i2
46
,
35
25
95
*4
20*4
60
1734
2634
4*2
Last
•:8% 8%
27*4
27*4
275s
Sale 1*4
July'13
*.60
1
*4
3i2
3*2
358
47
48
4834
1U J'ly 14
18*4 J'ne 10
56*2 J'ne 11
J'ne 10
555 New Arcadian
85g
7
J'ne 10
80 Nevada Consolidated.
23
2
5
10
5
-
Mayflower
75 Miami Copper
Michigan
650
July'13
2
-
1,610 Lake Copper Co.
241 La Salle Copper...—
20 Mason Valley Mines.
70 Mass Consol
43*2
16*8
6
J'ne
4*4J'ne
1,890
'
43*2
♦16*8
75*2
20
57*2
18
26*2
.98
,26*2
634
7
*2234
178
75*2
197,
57l2
175g
26*2
36*4
634
Last Sale 1
35
57*2
*17*2
7*4
9
*.93
2*2
1
227,
7
2uJ'ne
400
32
Jan
6838 Feb
107*8 Feb
2i4Jan 3
Jan 3
Jan 2
Feb 10
Mch- 6
1634 J'ne 27
.05
Aug
17»8 Apr
109»8 Sep
Sep
46*4 Jan
27*2 Dec
4214
80*4
327g
4i|
25
Do
108
pref
Isle Roy ale Copper
1,212 Kerr Lake
90 Keweenaw Copper
20"
7
23*2
1*8
45
Jan
212 May 13
9*4 J'ne 10
Hedley Gold....
Copper——
125 Indiana Mining.....
55 Island Creek Coal—
*3
7*4
2278
16
8%
26
7
Jan
lf»4
ipl85g J'ly 16
30*4 J'ne 10
37*2 J'ne 10
100 Helvetia
47*2
7
10
3,487 Granby Consolidated.100
20
2,699 Greene-Cananea
575 Hancock Consolidated 25
5*2
♦4
3*4
•.
42*2
16
'•
7
6
Feb
M74
Jan
330
Mch
Mch
28
.85
Jan
(ill
Jan
107
164
1334 Jan
98*2 Jan
27
May
5584 Feb
28*2 Feb
69
J'ne 10
62
20
10
200 Franklin
3% 3%
♦1*4
1*4
4*2
♦67,
*22*a
1%> ♦.90
' 46
•157,
1*2
634
•4
»6
"m
3*2
1*2
*3
734
23
45
•23
13s
4
,
5*2
47*2
19*4
4
•75
19
19*4
3*4
13s
6*2
.
5,395 East Butte Cop Min.
81
19*2
7*2
*22*2
334
•44*2
334
81
18*2
*3%# 3%
...
Daly-West
"♦.30 ."".70
5*2
4758
81
*6
22*4
1
4734
May 12
J'ne 24
1
275
5
1,310 Chino Copper
1,857 CopperRange Con Co 100
>
512
473,
*3
7
295 Centennial
11
15
334
45
15*2
17«
8% 8*2
28
26*8
•1*4
1*2
5*2
102*2 J'ne 10
25
145 Calumet & Hecla
38*2
"♦.35 "".60
6*2
7
1,891 Calumet & Arizona..
37*2
6884
65,
1034
*8
7
4*8
Bos&CorbCop&SilMg
5
420 Butte-Balaklava
Cop 10
7,703 Butte & Sup Cop (Ltd) 10
37*2 37*2
38*4
40
2*2 Jun '13
H78
117, 13*4
*5
5*8
6*4
61
00*4
6134
638
7*8
65g
17
1634
16*4
11
Algomah
100
Last Sale
•3
45
•15*4
•184
♦1*4
'
415
36
81
33,
03
11
1*4
7*4
4*8
658
21*2
1*8
♦1
•43
3%
.60
•47
81
♦19
100
32
*41,
5*2
4734
81
*1*4. »1 %
712
7*2
•45g
434
7
17
.60 *.35
*.35
*80
•3*8
1*4
07,
4*8
6*4
59
28
402
11
5*8
4112 J'ne 10
263a J'ne 24
50
J'ne 11
105
Dec
158
_
29ia J'ne 11
1*2
285s
6434
11*4
28*2 Jan 15
28*4 Jan 20
Jan
182
Jan
Mch28
•4 J'ne 6
147
J'ne 24
25
1.020 Allouez
4,863 Amalgamated Copper 100
2,485 Am Zmc Lead & am. 25
5
,520 Arizona Commercial.
♦1*4
11*4
5
20*2 J'ly 18
32
20
420
108
Dec
90
5
J'ne 12
834 J'ne 10
.15
May20
1*2
283s
63*2
38
Mch
141* Apr 15
10
Mining.... 25
.95
"
25
25
(half pd.)
90
2
2
18*4
1*2
23,
62*4
Minins
Adventure Con......
165*2 Jan
16*2 Apr
Feb
Aug
4i2 J'ne
229
148i4 Oct
160
_
Mch
98 78
Deo
214l2 Dec
2i2 Mch
50
Apr . 2
9112 Jan 11
Jan 11
a
6,600 Alaska Gold
♦.75
28
100
Ahmeek..
1
417
......
July'13
269*8
Oct
Feb
Jan
17*4 May
Jan
93
Mch
20
Apr
J8S*8 J'ly
APr 12
Feb 8
J'ne
27
Do
288*2 Jan 10
Apr
101
Torrlngton...
8
J'ne 18
152
Union Copper L & M 25
United Fruit
t
loo
1,394 Un Shoe Mach Corp. 25
Do
170
pref....
25
...*100
7,120 U S Steel Corp
69
107
278
5*8
11*4
59*2
60*4
67, «7 Ke
17*8
1778
30
•Yo"
63
411*4 425
10*2
11®4
353s
36*4
38*2
38*4
*2*2
17
637, Apr
420 Swift & Co
.
70*4
20*4
2*4
♦1*4 '
100
100
T,869
♦238
1*2
28
10
32
20
62
62*2
123
♦12
35
20
J'ne 16
J'ne 14
Jan 16
*136
63
♦.70
20
278
273,
28**4
62
13
69
1*2
1
1*4
425
13
693,
80
17*4
♦1*4
18
1*2
32
705,
♦1*4
307,
68*4
♦1934
234
278
1*4
277,
62
33*2
1734
•1*4
3U2
.90 ♦.70
.90
430
425
12*2
18
87
6
209
.100
July'13
Last Sale 13,
Last Sale 290
•1*4
1*2
1*2
285
285. *280
17*4
18
18*8
♦1*4
♦280
100
100
Telephone._
Do
1
pref
45 N E Telephone.
,
•1*4
•275
96
Jan 22
Mch24
46*2
107
Jan
0312
95*8
219*8
3*2
Do
Morgenthaler Lino
20
164
46*2
Deo
107
Apr 28
11
27*2
"57s,
66*8
189
155
Electric
Feb
May
9
103
28
50*8
300
2
Jan 13
Jun *13
163
163*8
15
18634 Jan
27
27*8
J'ne
84
105
104
15*8
27
27
Last Sale 1
Jan
Mch
04*4 Mch
Nov
75
May26
pref
Mcfi
30
z90i4 J'ne
5
Aug
10i2 Aug
1034 Jan
272*2 Sep
J'ne
104*4 104*8
27
*20
1
**4
Jan 23
J'ne 10
154
15*8
Jan 14
6*2 J'ly 16
13
J'ly 15
95
1*47*2
154
154
75
100
69
130
36
147*2
149
Mav27
92*4 J'ly 23
5
Jan 10
149
Nov
79*4 Nov
7
257
Jun '13
Last Sale 20
22
Apr 30
81*2
100
July'13
•147
21
6334 Mch
11334 Dec
114*4 Dec
137*2 Jan
McEIwaih(WH)lst pf 100
'""389 MassachusettsGasOosl 00
*60
145
J'ne
824 General
July'13
2*8
Do
J ne 12
110
125*1 J'ne 10
16*4 Feb 28
74
May 8
9
90
*89
Last Sale
3*2
153*4 1637s
*147, 15*8
104*8
Vl"
"of
90
Last Sale 214
*60
*143
**4
159
91
....
W I 8 SL.100
105
10
100 East Boston Land
.61 Edison Elec Ilium...100
98*2
218
100
J'ne 23
2iz J'ne 11
16*4 J'ne 9
10
140*4 140*4
140U
98*2
90*2
9078
99
*20
166
*67
140i2 14012 •142
153
153
153*2
15
•14*4
15*8
10412 104*2
*91
91
,3
♦20
•20
■
98i2
100
pref.
Jan 11
Jan 2
Jan 3
Jan 11
Jan 3
Feb 1
140*2 Jan 3
44*4 J'ne 27
100
275
139*4 140
140
100
Amoskeag Manufacturing
Do
pref
35
11
•971a
;
Do
25 Atl Gulf &
19
*10
140
91
*18*2
11
139*4 140*8
01
12
•10
♦98
•217
12
11
•97
99
.7
13
Sugar Refin
prefii^,...
American Woolen
"243
""21
93
*6
*10
13912 139i2
99
93
6*2
61,
60
100
8,085 Amer Telep & Teleg.100
Jun '13
94*2
♦93
13
1078
1078
273
275*2
11
276
76*2
76*4
76*4
*12
♦12
13
•10
*60
486 Amer
Do
203
111*2
Last Sale 60
9234
*6*2
*6*2
111
128*8
65
65
95
*6*2
•1212
19
19
115
128
18
•92*4
3*2
3*2
114*4 114*2
126*8 127*2
Last Sale 173g Jun '13
114
77
•00
V,
,
Apr
91i| Jan
1473, May
23i8 Jan ;
214 J'ly 22
115
pref
170
723s Dec
100
Pacific
Do
67
100
_i.s4._100
H
...100
Vermont <fc Mass..
100
West End St.
.....
50
72
86
Deo
97
260
86 Union
Do
1493A
72
112
202
Jan 27
Feb 14
Colony
Rutland, pref
"n'y'lS
Last Sale 130 May* 13
90
114*4 Jan 30
205
Oct
Feb
Apr!
Mch
Mch 5
Jan 13
-
7,827 N Y N H& Hartford. 100
Rights
42,197
Last Sal? 86
•85
2
IIU4
104i4
222i2
13434
166
Norcuern N
•70
Jan
215
1037g Feb
IOU4 Nov
21U2 Sep
107
Old
147*2 147*2 *149
148*8 148*8 *148*8 1483s *147*8 14734
*83*2
84*8
♦83*2
84*4 *83*a 84*4
2
4
260
Do
Jun *13
Last Sale 31
106*4 Jan
lOlSg Feb
95*4 J'ly
190
Apr 30
83*2 J'ne 30
181 .Way 6
60
J'nel2
250
MAyl4
J'ly
99*8 J'ly 16
115*2 J'ly
82*2 J'ly 11
100
Apr 29
12*4 J'ne 14
July'13
Last Sale 162
163
4*29
Highest
IOU2 J'ne20
Jun '13
Last Sale 115
165
•20*2
30
1467s 147
♦83*2 84
•161
,
J*nol2
94
163
64
71
71*2
99*2 101
1*2
14*2
14*a
100
100
35 Maine Central225 Mass Electric Cos...100
101
101
....
Lowest
200
Ga Ry
Do
""'125
84
*82*2
83
101
*15
♦71
71*2
1*4
82*2
♦100
14*2
1412
16
100
""""72 Fitchburg pref...-
102
Year 1912
Highest
Do
prof..
Connecticut River
July'13
*101
101
pref
Range for Previous
lots
Chic June Ry & USY.100
20
Last Sale 115*2Jul/13
*114*4
—
101
*81*2
101
101
"14*2
•14*2
161" 101"
Do
July'13
Last Sale 200
...
100
Boston & Wore Elec Cos
Do
pref
♦105
*104
Albany
Boston & Providence. 100
Boston Suburban EI Cos.
Jun '13
Last Sale 165
46
*104
100
__100
pref.
Boston & Maine
Last Sale 57*2 Jun *13
May'13
Last Sale 7
65*2
*164
104
"466
Jun *13
Last Sale 7*2
15
65*4
of 100-share
1
Top & Santa Fe.100
Do
391 Boston Elevated
Boston & Lowell
6212
July'13
62
62
62
Railroads
40 Boston &
197*2 198*2 ♦197*2 198*2
89*2
89*2
89*2
89*2
Last Sale 185 July'13
♦250
*7*2
65*4
98
197*2 197*2
89
89*2
62
*250
♦7*2
65*4
*42~
59*2
•250
....
•50
62"
61*2
*9734
m
55 Atch
*185
*185
•185
....
61*2
98
98
97*2 •97*4
•97*8
9734
97*4
97*4
*96*2
198*2
198*2 198*2 •198
90
90
89*2
90
basis
Lowest
,
00*4
96*4
*9612
97
198*2 198*2
89?i 897S
Range Since Jan. I
On
76
Full paid.
3*8 Dec
24i2 Sep
Apr
May
Aug
Nov
9i2 Apr
4"i« Mch
x506j Sep
5234 Sep
3"„ Feb
203j Apr.
673j Sep
57g Jan
734 Moh
1334 Apr
17
Meh
1
BONDS
Price
Week's
Friday
Range or
Since
July 25
Last Sale
>m
86% Sale
IOH4
1013g
897g J'ne'12
837*
Boston & Maine 4Hs
Plain
4s
—
Bur & Mo Riv cons 6s
63
60
97
69
625h
60
60
May'13
85
104% Oct
'08
95
"Feb '12
101
J'ne'13
101
104%
j7ne'13
104% 104%
83
J'ne '13
J-D
M-N
Q-F
86
83%
100"
82
100
95" "98"
98% Sale
791* 84
107
1051*
Coll trust refunding g 4s. 104C A-O
Ch Milw & St P DubD 6s...1920 J-J
.1931 M-N
Chic & W Mich gen 5s
.1921
98U 1003*
791* 86%
107
llOSg
1051* 10784] 113*8 Feb '11
91
May'12
86
90
Wis V div 6s_..1920 J-J
Oh & No Mich 1st gu 5s
94
J-D
Concord & Mont cons 4s....1920 J-D
65
A-O
"III
A-O
M-N
75
100
92
mmmm
05
Feb '13
122"" 122*
122
A-O
Mch'12^
July 21
Friday
Week.
July 22
July 24
July 25
J'ne'13
J'ne 08
991* 101%
95U
94
~94 ~ "97"
100
100
97
115
"III.
94
93
90
9514
931*
99i2
95
99
101
Safe"
101
16%
16*4
mmmm
69
115
•.
92i4 Mch 12
115
•
60
•58*4
115% ♦114% 115%
....
+ mm
mmmm
41%
26%
26%
*26%
26%
*38*"
*33*
*38**
mmmm
mmmm
.
600
"3*8**
•37%
*3*8* ~
109
108
987* Sep '09
Ill's Oct '12
Jan '11
103
7014 Dec '10
J'ly'13
102lg 100
90%
91
6034 Sale
07
Apr'07
46%
46%
47%
mmmm
953g J'ly *13
953*
J'ly'13
93i2
94«< Apr '13
98% J'ly *13
90
90
93i2
....
953*
90
9534
9U*
931*
95U
2.553
26®4
92
961*
953*
J'ly'13
46
45%
"46%
46%
•35%
36
35%
36
•72%
73%
73
73
♦12
12%
♦12
84%
74
97
97
99U
971*
99U
971*
F-A
Sale
981* Nov'11
98
*
991*
"977*
100%
86 a
938g Feb '12
J-J
98
J-J
85%
* No prioe Friday; latest bid and asked.
D Flat prices.
Range for Presiovs
ACTIVE STOCKS
Inactive
Bonds and
(For
Stocks
see
Year
Jan. 1
Range since
J'ne 10
120
Jan 16
96
Jan
117
May
101
J'ne 12
101
Jan
116
Apr
100
14
J'ne10
pref tr ctfs.100
58
J ne
120% Jan 81
23
Apr 4
68
Jan
6
123
121
Dec
18
Dec
27% May
45% Mch
553% j'na
Houston Oil tr ctfs
Do
Northern Central....
Do
60
100
pref
United Ry & Electric.
50
8
J'ly 16
14i* J'ne 11
41i* J'ly 19
114
23
Jan
6
Feb
Apr
2
Jan 30
21
4734 Jan 24
27% Apr 8
-
6
50
2
Railways
50
Cambria Steel
50
Electric Co of America 10
37
J'ne 11
41
J nelO
American
Cement
8% Jan
53% Jan
49%
84%
Do
245*
84
84
84
8414
390
Leh C & Nav tr ctfs_.
74% 75
74%
74%
74
Mi 747*
745s
20%
20%
20%
20%
20%
2012
1,495
33
33
33
33
20%
33%
75%
21%
311
74%
20%
33
33%
3314
57
5678
57
5G7g
34i2
57
Lehigh Valley
Lehigh Valley Transit
Do
pref
Pennsylvania RR....
Philadel Co (Pittsb)..
Philadelphia Elect}
50
50
50
50
50
25
37
Phila R T vot tr ctfs..
50
20
Reading
Tonopah
50
"
40
567*
♦38%
41
39%
421*
42
22
23%
23%
49%
84%
'
•39
22
21%
2178
22
22
217g
22
23%
24
237s
24
25
24
801*
80
80% 80%
50
,
60%
84%
84%
84
4%
Bid
4%
4%
60%
50%
60%
84%
50%
84%
43g
601*
8434
43g
8434
Bid
PHILADELPHIA
Ask
40%
86%
.
.1
10
Inter Sm Pow & Chem
Oh Ok & G gen 5s 1919
Oon Trac of N J 1st 5s
26
60
50
21%
48%
17
Little Schuylkill.
50
Minehill & Schuyl H_. 50
Nat Gas Elec Lt & P..100
100
Pennsylvania..
Pennsylvania Steel
Preferred
567*
30
100
100
49
....
57
mm
'
m —
ctfs 4s'49J-J
1946--A-0
Elec 8c Peoples Tr tr ctfs.
Fr Tac & H 1st 5s '40.J-J
Gen Asphalt 5s 1916.M-S
Harw Elec 1st 6* 1942 M-S
Interstate 4s 1943
F-A
Keystone Tel 5s 1935..J-J
—
"02"
Corp inc 5s'24 O
Lehigh Nav 4^s '14.Q-J
i04~" 105"
Gen M 4Msg 1924.G-F
Leh V C 1st 5s g 1933.J-J
Lake Sup
80
50
Pennsy receipts $15 paid.
Pennsylvania Salt
50
'33
Del Co Rys tr
Lit Brothers
10
J-J
Edison Elec 5s
Kentucky Securities..100
Keystone Telep. pref- 50
Keystone Watch Case 100
1948.J-D
6s 1923
J-D
4 Hs 1923...J-D
Leh V ext 4s 1st
*62"% "65*%
Consol
Phila Co (Pitts) 5% prf
50
39
40
Consol
6% cumulative pref.
50
40
41
Annuity 6s
Phila German & Norris
50
m
50
Westmoreland Coal-. 60
Warrants (when Issued)
Wilkes Gas & Elec..—100
York Railway
50
Preferred
50
m
"84%
5678
5
"1184
36%
58
4s
P Co lst&coll
J'ne10
70% J'ne 10
15»4 Jan
37%
61%
J'ne10
United Gas Impt
50
8034 J'ne 10
Ask
Bid
tr5s'49M-S
M-N
Oon & coll tr 5s '51
gold tr ctfs. A-O
Trust ctfs 4s 1949
J-d
Phil Eloc
J-J
Stan'd Gas 8c El 6s'26 J-D
Stand Stl Wks lst5s'28 J-J
115%
9934 U Trac Ind gen 5s '19.J-J
Un Rys tr ctfs 4s '49 -J-J
United Rys Invlst coll tr
s f 5s 1926.
M-N
105" 106
Welsbach s f 5s 1930.:. J-D
84% 85
Wil-B G&E con 5s '55-J-J
100%
*95
York Rys 1st 5s
90
"e'o'%
Inactive Stocks
Atlan Coast L (Conn) .100
Canton
Co
...
ids" Georgia Sou & Fla
1st
ioo%
111
I12"
101
2d
preferred
preferred
94
103"%
93%
96%
79%
£ 115 paid.
240
175
100
*9*3"%
100
25
95
"91
100
100
80
Bait City 3 Hs 1930...J-J
4s 1954-1955
Various
2
1%
89%
are all "and
interest"
Prices
M-N
Anacostia 8c Potom 5s A-O
Atl C'st conv deb 4s.M-N
5s
1916
BSP&C lst4Hs'53
8578
234
Bonds
5-20-yr 4s 1925
101%
.
877* Mch
78% Feb
8% Jan
23
Jan
60
Dec
4J34 Dec
||1u78 Jan
22% May
74% Jan
J-D
J-J
91
102"
101
98%
"92*%
91%
87
35% Sep
Sep
100
027* Jan
167* Sep
33% Deo
63% Apr
66% Feb
24*4 Sep
Sep
29
86% Jan
92% Aug
Dec
Ask
Bid
BALTIMORE
99
97%
103
104*8 104%
92% 03%
5s'53J-J
*31 A-O
Memphis St 1st 5s '45-J^J
Monon V Trac 5s '42 J-D
Mt Ver Cot Duck 1st 5s—
NptN & O P 1st 5s'38M-N
N & A Terml 5s '29.-M-S
Nor&Port Tr 1st 5s'36 J-D
Norf Ry & L 5s '49
M-N
North Cent 4^s 1925 A-O
Series A 5s 1926
..J-J
Series B 5s 1926
J-J
Pitt Un Trac 5s 1997..J-J
Poto Val 1st 5s 1941...J-J
Sav Fla & West 5s '34 A-O
Seab Air L 4s 1950
A-O
Seab 8c Roan 5s 1926..J-J
South Bound 1st 5s
A-O
U E1L&P
lst4^s'29M-N
Funding
F-A
5s
1936
86
861*
86
88
99
101
mmmm
100%
106%
1013s 101%
37% 38
81%
100%
97*"
*96 "
95
mmrn'm
*67 "
96
93
*87 "
102
102
102% 105
104
•
102"
J-D
101
I
-
nam
103
10134
88
91%
83%
M-S
J-D
'
99
62%
85%
Conv notes 5s 1914 J-J
101
101
West) f C
107*
106
Va Mid 3d ser 6s '16.M-S
4th ser 3-4-5s 1921 M-S
103
102
88
98
5th series 5s 1926
M-S
103% Va (State) 3s new '32.J-J
Fund debt 2-3s 1991 J-J
93
91
67%
93
104%
104%
104%
103
Cent Ry cons 5s
5 13K paid. _ 8 17H paid.
73% Deo
13
Sep
89% Apr
8% Apr
63
Sep
6
Un Ry & El 1st 4s '49
Income 4s 1949
99%
101% Bait Trac 1st 5s '29.M-N
No Bait Div 5s 1942J-D
'32.M-N
Ext & Imp 5s 1932 M-S
Cbas City Ry 1st 5s'2 ^ J-J
102
80% Chas Ry G & El 5s '99MS
103% City & Sub 1st 5s 1922 J-D
City&Sub (Was) 1st 5s '48
39% Dec
4934 Feb
93*4 Maconlty&Lt 1st
100
Brewing
Atl Coast L(Ct)ctfs 5s
86
3
84% Jan 2
6% Jan 13
51% Jan
8
91% Feb 3
Feb
1916 J-J
1939—J-D
Gen 4J£s 1954
A-O.
100% Cons G E & P 4Ms '35 J-J
Consol Coal 5s 1050—J-D
101
92% 8284 Fair & CI Tr 1st 5s '38 A-O
Ga & Ala 1st con 5s '45 J-J
Ga Car&N 1st 5s g '29 J-J
Georgia P 1st 6s 1922
J-J
"82%
Ga So & Fla 1st 5s '45.J-J
G-B-S Brew 3-4s *51.M-S
713s
Houston Oil div ctfs—F-A
90% 91
Knoxv Trac 1st 5s '28 A-O
100
G-B-S
142
93%
8
27
58% Aug
Consol Gas 5s
1937.J-D
Consolidation Coal
152"
Jan
2434 Feb 14
28% Jan
Apr
65% Oct
Col & Grnv 1st 6s
98
BALTIMORE
90%
9
3
Jan 3
Mch 28
Mch 28
Jan 9
6
Md Elec Ry 1st 5s
57%
69
Sep
}2% J'ly
Coal & O Ry 1st 5s '19 A-O
Coal & I Ry 1st 5s'20 F-A
101% 102
P & E gen M 5s g '20.A-O
Gen M 4s g 1920
A-O
this day._ £ Ex-dly. and rights.
'21..J-J
50
J'ne 10
20% J'nd 10
46% J'ne 10
Read Trac 1st 6s '33.-J-J
85
95% Roch Ry 8c L con 5s '54 J-^J
23?g
4
63% J'ne
1
PHILADELPHIA
84%
4
29% J'ne 12
50
Mining.*..
Spanish-Am Ir 6s '27
m
59%
West Jersey & Sea Sh_
Bid and asked; no sales oa
±
cons
81
31% Jan
93% Jan
4
Union Traction
P W & B col tr 4s
J-D
2003..M-N
82
Phila Traction
50
82% Leh V Tran con 4 s '35 J-D
1st series A 4s 1935.M-S
8%
Railways General
10
1st series B 5s 1985 M-S
6%
6%
Tonopah Belmont Dev
1
MarketStEl 1st 4s '55M-N
221
united Cos of N J
100 220
NatLH&P serB 5s '19 J-J
United Trac Pitts pref 50
New Con Gas 5s 1948.J-D
Virginia Ry & Power
100
N Y Ph & No 1st 4s'39 J-J
Preferred
100
Income 4s 1939
M-N
9% 10
Warwick Iron & Steel- 10
Pa & N Y Can 5s '39.A-0
Washington-Va Ry
100
78* " Penn Steel 1st 5s *17.M-N
Preferred
...100
People's Tr tr ctfs 4s_1943
Welsbach Co
100
Gen
140
J'ne
75% J'ne 10
4
J'ly 22
*
Ex Imp M 4s 1947.A-O
Terminal 5s g 1941 Q-F
t
Rys 5s 1917
A-O
Atl C Gas 1st s f 5s '60 J-J
Berg&EBrew lst6s'21 J-J
Bethleh 8'tl 6s 1998-G-F
Electric....100
Huntington 8c B T
50
Insurance Co of N A__
^
Am
*72"
22
Ph 8c Read 2d 5s 1933 A-O
interest"
41% Alt 8c L V Elec 4 Hs'33F-A
Am Gas 8c Elec 5s '07.F-A
Harwood
590
Prices are all "and
1%
100
50
Central Coal & Coke. .100
Preferred
100
Consol Trac ofN J
100
Preferred
80% 81%
80^,80%
4%
Ask
403
5,897
5,931
8,007
2,375
2,769
Bonds
Milling;.
.10
....100
Preferred
23%
84%
60
•4%
497s
4
84%
3,630
4318
22
56% 56%
40
979
50
Jan
13% MaylO
24%
1,330
Sep
7
934 J'ne 10
84
12%
Apr
47
18
Apr
59% Apr
84
♦12%
130
J'ne
1
9
54% Jan
J'ne 10
72% J'ly
40% Oct
41% Mch
6
4278 Feb 4
78
May 13
25
12%
Feb
70% J'ne 10
33
84%
■
Inactive Stocks
*
340
Battery. 100
.100
pref
100
Keystone Telephone. 50
Lake Superior Corp
100
Elec Storage
Gen Asphalt
24%
Amer Rys pref
Cambria Iron
North
♦7334
287
84
PHILADELPHIA
American
74
970
24%
80% 80
4%
4%
4%
84
74
1,065
.
84%
217*
22%
80%;
•49%
36'4
25
56
22%
4%
47U
37
12%
24i2
•39
40
80
73%
47%
36%
2
z49% Feb 24
53% Jan
9
12% Jan
9
251* Nov
18% Jan
11% J'ly
523.} Jan
115g J'ne 16
42% J'ne 10
20
22
221*
*12
73%
'*47%
American
74
66%
66%
22
12%
47%
30
36
4,032
Highest
101
Con Gaa El L & Pow.100
Do
pref
100
25
•12
12%
•32%
32%
•39
48
114}
48
36U
7412
12%
241*
47U
(1912)
Lowest
Highest
Lowest
below)
84
20
32%
36%
74
36%
73%
987,10134
97*8 Feb '13
24%
74
♦19%
*47%
"47% *4~7%
*46% "4*7"
74
38
♦111*
2434
84%
23%
46%
47%
47%
46%
45%
•37
933*
9914 J'ne'13
Philadelphia
t*mm**'
"38*"
*38*
86
10034 100%
IOOS4 Mch'13
9114
1031*
90
97
mm**
♦37*
100
F-A
Seaboard Air Line...100
'"""25
38
•
mmmm
116
18
•40U
26*4
-
819
1151* U61*
•17
26%
*
*26% *2*6%
26%
26%
60
67
•56
26%
IIII
•40*
*41%
'
mmm*
■
m
1173* 1251*
Apr '09
101
93
911*
M-N
Ry 4a_.
mmm
69
69
69
—
•58%
60%
•58%
•16
101
99341011*
1173* J'ly '13
Baltimore
66
104% ♦101% 104% ♦1011* 1041*
1081*
109
107% 1071* ♦107
16U
161*
16%
16%
103% 103% •101
107% 107% •107
104
102% 102% •101
107% 107%
107% 108
16
16
16%
1«
93
101
12
A
Dec
75
94H
991*
90
101%
10034
80
9314
9834
May'13
J'ly '13
Apr 13
90
..
78
M-S
Shares
-
13
108l2113
763g 76%
901* 601*
4Hs
of the
Thursday
July 22
,
M-S
M-S
A-O
1915
1914
...1916
Gold 4s..
1917
Western Teleph 8c Tel 5s
1932
Wisconsin Cent 1st gen 4s
1949
Sales
CENTUM PRICES
Wednesday
Tuesday
92
Feb
92
Exchanges—Stock Record, Daily, Weekly, Yearly
Philadelphia and Baltimore Stock
Monday
92
Apr '08
Gold debenture 4s
all Boston bonds.
In addition to the purchase price for
PRICES—NOT PER
957*
A-O
West End Street
122
115
A-O
9934
9614
94U
Gold
mm*
Feb *13
Oct '12
M-S
931*
1061* I08i2 108i* May' 13
763g Jan '13
901? Feb '13
IIII *90*
78
78% May '13
u
*66 ° *09*%
66
9438 "li
94U May'13
91
A-O
Ont 1st 6s._1925
1929 J-J
Dec 1931 J-J
Mich Telephone 1st 5s
1917 J-J
F-A
New Eng Cotton Yarn 5s..1929
A-O
New Eng Teleph 5s—*...1915
5s
*.1932 A-O
New River (The) conv 5s..1934 J-J
N YNH&Hcondeb 3^8-1956 J-J
Conv deb 6s
....—1948 J-J
Old Colony gold 4s
1924 F-A
J-D
Oregon Ry & Nav con g 4s_1946
Oreg Sh Line 1st g 6s
1922 F-A
F-A
Puget Sd Elec Ry 1st 5s....1932
Repub Valley 1st s f 6s
1910
Savannah Elec 1st cons 5s
1952
Seattle Elec 1st g 5s
...1930 F-A
Shannon-Ariz 1st 6s g_.—1919 M-N
Terre Haute Elec g 5s_
1929 J-J
Torrington 1st g 5s
1918 M-S
Union >ac RR & Id gr g 4s. 1947 J-J
20-year conv 4s
1927 J-J
United Fruit gen s f 4H8---1923
Debenture 4Hs
1925
U S Steel Co 10-60-yr 5s Aprl963 M-N
mmmm
Aug'12
80i4Sep '12
....
993g
9334
117
j:j
"95"" "85*
100b Aug '12
M-N
68
921*
93i2
64
9712 Sep '11
95
Mch'13
Sale
91*
1949 A-O
NOTE.—Buyer pays accrued interest
851*
837g
J'ne *13
....
100
100
9812 Mch '12
981* Dec '12
837* Mch'13
98U
9812
791* J'ne'13
5s...1915 J-J
893.
*07
May 13
J'ly '13
98
,1949 J-J
Copper Range 1st 5s
1924
Cudahy Pack (The) lstg 5Current River 1st 5s—.....1926
.1946
Det Gr Rap & W 1st 4s
Dominion Coal 1st • f 5s—.1940
.1927
Fitchburg 4s_.
Promt Elk & Mo V 1st 6a_..1933
1933
Unstamped 1st 6s
Oct
1103
105
99
Illinois Div3Hs_
102
993g Apr'13
A-O
A-O
High
Low
No
High
Ask Low
98
n
M-N
Since
95
971*
94%
J-J
Marq Hough &
Mass Gas 4 Hs
Deben
1942 F-A
1922 F-A
Denver Exten 4s
Nebraska Exten 4s...... 1927 M-N
1921 M-S
B & 8 W a f 4s
Saturday
July 19
97
95% Feb '12
IOOI4 Mch'09
101
SHARE
98
12
J'ly '13
50
A-O
A-O
Oh M & St P
KMI4
87%Nov'12
89% J'ly '12
] 97
9818 97
99% 110% Mch'11
96%
0914
1916 J-J
1944 J-J
1951
Butte El & Pow 1st 5s
...
Cedar Rap & Mo liiv 1st 7s 1916
Cent Vermt 1st g 4s
May 1920
0 B & Q Iowa Div 1st 5s... 1919
1919
Iowa Div 1st 4s
8tk Yds
99
1918 J-J
....
Ohlc Jet Ry &
OB&Q coll tr 4s__1921
Registered 4s
1921
Houston Elec 1st s f gen 5s_1925
la Fails & Sioux O 1st 7s_._1917
Kan C Clin & Spr 1st 5s...1925
Kan O Ft Scott & Mem 6s._1928
K O FtS & M Ry ref 4s gu_1936
Kan O M & B gen 4s—
1934
Assented income 5s_.
1934
M Rv & Br 1st 5s_1929
Gt Nor
893,5
10212106
'*"8
Range
Jan. I,
Bid
A-O
68.1915
General Motors 1st 5-yr
102
86
851a
1955
Lowell 4s
94
9478
J-D
4s.......
1917 J-D
10-year conv 5s
1950 J-J
Atl Gui& W 1 SS Lines 5s.
1923 M-N
Bos & Oorb 1st conv s f 6s. .
1935 M-N
Boston Elev 3 -yrg4s_..._
60-year conv
J'ne
131
94%
1995 M-N
July
Stamped
99
1033* Mch'13
1933
20-year conv 4^8
1019 J-J
Am Writ Paper 1st s f 5s g__
1913 M-N
Am Zinc L & S deb 6s......
1995 A-O
Atch Top & 8 Fe gen g < s—
1905 Nov
Adjustment g 4s—..July
Boston &
"l9
Week's
Range or
Last Sale
July 25
HlgH
Low
No.
1936
4s
Convertible
High
9984 Apr *13
8684
87i8
Ask Low
Bid
1928
Agrlcul Ctaem 1st 5s...
1929
Telep & Tel coll tr 4s.
BOSTON STOCK EXCHANGE
Week Ending July 25.
1.
Jan.
Price
Friday
BONDS
Range
BOSTON STOCK EXCHANGE
Week Ending July 25.
Am
231
Boston Bond Record
July 26 1913 J
'
:
^BMaj^iii)i»
miu*mmaa*sa
100
*»
dm
6s 1914.J-J
100
Wil 8c Weld 5s 1033...J-J
108
con
«■
-mmm
331
THE
CHRONICLE
[Vol.
xcvii
$uu estmeut- ami llailraatJ Intelligence,
RAILROAD
GROSS
EARNINGS.
following table shows
the gross earnings of every STEAM railroad from which
regular weekly or
The first two columns of
figures give the gross earnings for the latest week or
monthly return®
be obtained.
month, and the last two
columns the earnings for the
period from July 1 to and including such latest week or month.
We add a supplementary
statement to show the fiscal
year totals of those roads whose fiscal year does not begin with
July, but covers some other;
period. The returns of the electric railways are brought together separately on a subsequent
can
paye.
Latest Oross
ROADS.
Week
Current
Year.
or
Month.
Ala N O & Tex PacN O & Nor East. June
Ala <fe Vicksburg. June
Earnings.
July 1 to Latest Date,
Previous
Year.
Year.
Previous
Year
$
$
294,963
3,950,611
3,864,399
122,059
1,889,427
1,635,197
Vicks Shrev & Pa June
104.144
1,939,360
2,148,591
Ann Arbor.
2d wk July
39,071
42,379
85.994
82,785
Atch Top & 8 Pe
May
9.368.397 9.213.695 108275822 99,083.650
Atlanta Birm & Atl May..
247,113
244,440
3,026,054
3.010,462
Atlantic Coast Line May
2,924,071 2,901,883 33,513,818 30,967.505
- Chariest & W Car
May
137,506
150,955
1,813,639
1,763,324
Lou Hend & St L May..
103.799
110,311
1,184,927
1,127,977
f Baltimore & Ohio. Jiine
9,015,427 8,314,833 101556132 92,594,323
B& OChTer RR May
163,366
127.139
1.415,575
1,644,330
Bangor & Aroostook May
300,279
242,718
2,982,765 3,111,023
Bessem & Lake Erie May..
997.387 1,023,744
7,953,894
7,408.213
Birmingham South. May
120,205
84,743
802,557
1,163,470
Boston & Maine
May..
3,973,644 3,859,051 44,464,852 42,018,443
Bufr Roch & Pitts.
3d wk July
276,702
215,786
713.499
647,357
Buffalo & Susq
May
210,225
162,400
2,272,134
2,132,561
Canadian Northern 3d wk July
447.800
426,100
1.335,000 .1,254,700
Canadian Pacific.
3d wk July 2,608,000 2,593,000
7,912,000
7,865,000
Central of Georgia- May
1,003,172
978,553 12,958.452 12,965,833
Cent of New Jersey May..
2,518,184 1,870,028 29,265,269 26,700.935
Cent New England- May..
'306,863
252,194 3,411,644
3,167,020
Central Vermont.
May
358,935
335,284 3,824,956 3,732,915
Ches & Ohio Lines- 2d wk
July
604,585
579,897
1,067,922
1,087.816
Chicago & Alton
2d wk July
281,067
281,769
558,339
533,396
Chic Burl & Quincy May
7,295,560 6,650,535 86,878.698 79,838,702
2d wk July
327,224
282,087
563,676
511,132
lie Ind & Louisv
3d wk July
130,03S
123,172
371,224
357,091
Chic Milw & St P. I May..
7.338.031 6,365,517 86,452,139 72,455,705
_
_
_
.
ROADS.
_
_
,
.
_
&Chic Great West,
Chic Mil & PugS/
®Chic & North West May®Chic St Paul M &O May..
Chic Terre H & S E May
6,797,722 6,272,414 78,884 ,214 69.795.190
CLn Ham & Dayton May
Colorado Midland.
b Colorado & South
Cornwall
Cornwall & Leban.
Cuba Railroad
May
3d wk July
May
May
MayDelaware & Hudson May..
Del Lack & West.. May„
Deny & Rio Grande 3d wk July
Western Pacific.
2d wk July
Denver & Salt Lake 2d wk July
Detroit Tol & Iront May..
_
Detroit & Mackinac 2d wk
Dul & Iron Range.
May..
Dul Sou Sh & Atl— 2d wk
July
_
July
Elgin Joliet & East. May..
El Paso & Sou West May..
Erie
May
Fonda Johns & Glbv May
Florida East Coast. May..
Georgia
Railroad._ May..
Grand Trunk Pac._
Grand Trunk Syst.
Grand Trk West.
Det Gr Hav & M
1st wk
July
1,304,492 1,215,364 15,808 ,254 14,023,890
153,001
96,629
1,786 ,722
1,699,487
839,074
784,394 9,140 ,029 9,005,552
120,386
138,936 1.700 ,640
1,696,893
281,270
242,723
790 ,155
699,896
19,816
17,976
222 ,255
179,063
32,706
25,693
386 ,004
278,369
447,127
380,851 4,232 ,940 3,500,435
1.908.032 1,423,506 22,046 ,029 18,967.634
3,569,323 2,406,372 37,125 ,861 32-,240,688
461,600
449,100 1,347 ,500
1,328,900
144,500
113,400
264 ,200
215,500
30,482
24,183
59 ,406
47,5^2
151,098
116,378
1,535 ,879
1,623,852
24.575
24,062
48 ,613
•48,057
954,589
807,264 6,068 ,950
5,731.203
68,765
72,154
140 ,422
136,978
1.208.254 1,110,312 12,201 ,331
9,566,207
745,777
703,013
7,966 ,036
6,957,656
5,410,711 4,285,537 57,290 ,468 51,463.264
85,682
74,291
901 ,881
846,602
439,415
442,452 4,732 ,907
4,079,521
262.801
243.128 2,895 ,961
3,155,761
"
120,933
3d wk July 1,164,836
1st wk July
135,594
1st wk July
46,226
Canada Atlantic- 1st wk July
48,796
Great North Syst.. June6,933,575
Gulf & ShiiJ Island. May..
120 ,933
1,047,951
3,383 ,657
3,097",865
129,794
42,499
135 ,594
129,794
42,499
41,891
66,160,622
1,827,736
6,637,452
59.220,650
344,000
350,616
■
•
Hocking Valley..._ May..
Illinois Central
June..
Internat & Gt Nor. 2d wk July
o Interoceanic Mex 2d wk
July
KanawhA & Mich.. MayKansas City Sou
June
.
Lehigh Valley
May..
Louisiana & Arkan. May..
rLouisv & Nashv.. 2d wk July
Macon & Birn'ham. June
.
Maine Central
May..
Maryland & Penna. May..
a
Mexican Railways 1st wk July
2d wk July
Mineral Range.
Minn & St Louis.
2d wk July
Iowa Central
5,830,534
189,676
172,490
755,451
652,816
5,276,389 5,263.769
152,000
174,000
174.983
179,526
332,759
295,959
853,980
767,123
3,795,218 2,300,710
149,366
148,842
1,127,785 1,012,125
8,483
10,344
938.984
854,702
43,374
38,926
187,400
171,400
16,339
15,112
184,441
184,166
46 ,226
48 ,796
78,790 ,465
1,929 ,817
7,094 ,143
64,712 ,588
305 ,000
309 ,038
j
2d wk July
Chicago Division j
Mississippi Central¬ May
Mo Kan & Texas.
Missouri Pacific..
Nashv Chatt & St L
-•« Nat Rys of Mex t.
"N evada-Cal-Oregon
_
is
2d wk
X
3d wk July
July
May..
2d wk
July
2d wk July
!N O Mobile & Chic. May..
New Orl Grt North. May..
•N Y C & Hud Riv. May
Lake Shore & M S May..
Lake Erie& W_ May
Chic Ind & South May..
n
Michigan Central May..
Cleve O O & St L May..
Peoria & Eastern May..
Cincinnati North May..
Pitts & Lake Erie May..
N Y Chic & St L. May..
-Tol & Ohio Cent- May..
Tot all lines aoove May..
HYNH& Hartf_. May..
588,008
•
3,006 ,457
2,848,322
10,706 .309
9,272,859
39,299 ,894 33,256,743
1,554 ,412
1,363,216
2,151 ,710
1,985.555
155 ,416
166,165
10,388 ,414
357 ,056
9,729,722
408.624
171,400
25,901
350,131
1,186,320
1,020,162
465 ,628
187 ,400
31 ,262
j
Minn St P & S S M
.
41.891
518,138
97,139
74,445
967,893
807,455
558,531
489,769
1,069,623
938,757
1,193,000 1,207,000 3.279.652 3,198,691
1,137,435 1,104,950 12.248.980 11,266.817
617,617
972,644 1,247,306
1,914,315
.
10,967
211,679
176,217
10025721
5,040,440
506,953
390,241
2,984,922
2,920,459
291,941
127,592
1,885,234
.986,807
558,191
25718501
5,740,206
10,875
203,080
.21,120
-
22,912
2,323.978
1.826,881
145.515
1,639,528
1.489,825
8,686,434 105143973 96,506,168
4,144,900 53,444,154 46,228,274
436,054 5,547,278
5,103,166
299,914 4,066,918
3,660,364
2,521,346 32,363,776 28.725.191
2,424,607 31,094,354 28,166,613
235,749 3,276,772
2,893,714
93,779
1,293,985
1,224,571
1,491,288 18.306,263 14,835,310
957,212 11,529,864 10,560,018
425,478 5.070,866
4,745,873
21716761 271147305 242649254
5,482,402 63,197.752 59,105,855
Year.
1st week May
138
May (40
3d week May (37
4th week May (40
1st week June (42
roads)
Id
3d
roads)
2d
week
week June (41
week June (39
4th week June (39
1st week July (41
3d week July (41
S
$
roads)—..
roads)
roads)
roads)
roads)
....
13,500,986
14,069,124
13,655,723
12.921.283
13,242,972
13,151,182
20,223.520
14,155.295
14,167,762
14,191,787
18,519,740
roads)..
roads
Increase or
Decrease.
$
Weekly Summaries.
Previous
Year.
19,138,924
13,576,071
13,900,378
13,870,253
18,044,170
13.206.284
13,547,151
July 1 'o Latest Date.
Previous
Year.
Year.
Current
Year.
S
$
794,917
321,333
465,280
235,145
Previous
Year.
8
- - -
8,633,337
3,490,447
7,730,415
3,374,288
Norfolk Southern._ 3d wk June
61,173
66,143
3,522,298 3,176,521
Norfolk & Western- May3,901,568 3.524.955 39,997,032 36,277,915
Northern PacifD
May..
5,766,417
5,127,545 66,651,916 57,909,507
328,231
301,463 3,356,916 3,172,187
645,357
571,839
7,236,168 6,839,095
15603928 14076824 166270967 150009660
28,961
26,890
291,633
255,279
293.261
270,266
3,221,687 2,752,037
1,005,975
932,466 10,350,865
9,650,109
11,221
11,125
140,061
122,914
356.455
327.843 3.387,817 3,066,043
1.175,394
926,792 12,228,020 11,471,184
1,851,228 1,660,590 19,320,401 17,542,140
505,191
500,618
5,780,391 5,741,045
6.228,829 5.115,684 60,418,573 50,997,221
446,390
415,152
5,067,192 4,762,917
3,985,010 3,359,464 40,861,836 37,188,672
929,146
742,887 10,320,170 9,179,699
North western Pac. May..
Pacific Coast Co
May-
Pennsylvania RR
May..
Bait Ches & Atl. May..
Cumberland Vail May..
Long Island
May..
Maryl'd Del & Va May..
N Y Phila & Norf
May..
Northern Central May..
Phil Bait & Wash
W Jersey & Seash
Pennsylvania Co
•
May..
May..
May..
Grand Rap & Ind May..
Pitts O C & St L_
May..
Vandalia
May..
Total LinesEast Pitts & E
May
22241348
10122299
11734001 9,747,898
.
Marquette
May
Reading Co—
Phila & Reading. May
Coal <fc Iron Co..
Total both cos
Rich Fred & Potom
Rio Grande June...
Rio Grande SouthRock Island Lines-
Rutland
St Jos& Grand Isl'd
St L Iron Mtn & So
St L Rocky Mt & P
St Louis & San Fran
/Chic & East IllTotal all lines
St Louis Southwest.
San Ped LA&SL.
203043803
118040742
103365792
352799522
316409594
1,415,752 1,349,723 16,090,937 15,328,450
.
May
May
MayMay
2d ,wk July
May
May..
MayMay
May
May..
April
April
2d wk July
May—
.
.
.
_
_
.
.
Seaboard Air Line- 2d wk
Southern Pacific
Southern Railway
Mobile <& Ohio—
Cin N O & Tex P
Ala Great .South-
234758779
33975349 29870197
West Pitts & E__
May
All East &West May..
Pere
July
4,369,543 3,224,803 47,524,483
3,294,073!
755,243 38,489,447
7,603,616 3,980,048 86,013,930
281,418
278,271
2.709,393
75,787
76,619
1,024,220
12.217
10,615
24,349
5,370,192 4,899,145 64,989,001
327,299
302,292
3,383.525
123,064
121,2001 1,432,011
2,784,859 2,549,935,31,658,656
2d wk
178,170
88.635
July
Tennesvsee Central- May
Texas & Pacific.
3d wk
.
July
Tidewater & West- May..
Toledo Poor & West 2d wk July
Toledo St L & W
2d wk July
Union Pacific Syst. June
Virginia & So West- May
May
.
43,084
88,388
4.882,558
2,854
3.650
145,886
312,583
1,549,600
22,125
85,799
636.921
741,148
.
Wrightsv & Tennille May
Yazoo & Miss Vail. June-
18,201
799,202
Various Fiscal Years.
Current
Year.
■.
Hudson
Jan
Lake Erie & Western.n
Jan
Chicago Indiana <& Southern- Jan
Michigan Central.:
Jan
Cleve Cin Chic & St Louis
Peoria & Eastern
Cincinnati Northern
Jan
Jan
Jan
Pittsburgh & Lake Erie
Jan
New York Chicago & St Louis Jan
Toledo & Ohio Central...... Jan
Total all lines——....
Jan
Railroad........ Jan
Baltimore
Chesap & Atlantic.
Cumberland Valley.........
Jan
Jan
to
Jan
Long Island
Maryland Delaw & Virginia— Jan
N Y Philadelphia & Norfolk- Jan
to
—
Northern Central
...
Philadelphia Bait & Wash...
West Jersey,& Seashore.....
Pennsylvania Company.-.--—
Grand Rapids & Indiana....
Jan
Jan
Jan
Jan
Jan
Pitts Cincin Chic & St Louis. Jan
Vandalia
Jan
—
Tota 1 lines—East Pitts & Erie Jan
—-West PittsJc Erie Jan
—All lines E & W. Jan
Rio Grande Junction—_—— Dec
Rutland
Jan
86,128
4,424,880
5,589
1,411,148
852,494
861,847
*9,716
97.653
89,504
21,389
42,368
40,813
72,011
168,185
133,494
6,905,927 93,633,459 85,977,609
157,807
1.660,817
1,604,769
486,625
5,672,862 4,516,765
2,401,377 31,772,541 28,354,764
613,812
6,914,635 6,630,244
595.340
7,068.251 6,791,785
19,145
291,473
332.613
746,363 10.999.404 9,636,863
Period.
N Y Central & Hudson River.e_ Jan
Lake Shpre & Michigan South Jan
403,057
330,008
156,932
175,047
391,317
522,218
2,601,752
.
Wabash
June..
Western Maryland. May
Wheel & Lake Erie. May
426,25S
354,440
'
448,813
1,854
150,090
330,751
10,545
7,563,761
165,344
.
211,916
167,383
78,394
42.670
.
Pennsylvania
22,574
.
July
Delaware &
908.238
58,635,934
3,156,269
1,438,314
27,770,275
199.178
•153,324 2,083,565 1,819,138
3,698,108 3,378,469142,343,320 38,713,362
1,203,922! 968,964'13,571,005 12,973,502
4,703,895; 3,918,434 52,207.411 48,303,081
205,000
231,000
428,000
459,000
860,324
884,189
9,296,92 28.233,388
411,814
391,018
869,490
830,490
2d wk July
Georgia So & Fla. 2d wk July
Spok Port & Seatt.
May—
Tenn Ala & Georgia 2d wk
Virginian
41,517,114
32,580,797
74,097.9112,335,860
May
11784 139 11032945 131130 169 120984 339
2d wk July 1,159,961
1,194,561
2.371,171 2,395,276
2d wk July
218,950
AGGREGATE 3 OF GROSS
EARNINGS—Weekly and
Current
Earnings.
Current
or
N Y Ont & West... May..
N Y Susq & West.. May..
.
.
Week
Month.
_
_
Cross
$
Current
340,393
144,869
124.386
_
Latest
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
May
Previous
Year.
•
&
101,799
86,988
1,464,632
4.082,276
47,427
1,517.772
5,393,907
8,542,957
2,075,971
1,251,992
3,815,752
37,659
1,338,034
4,933,119
.7,747,234
2,080,763
21,587,428
2,076,413
16,690,353
3,979,366
94,080,897
44,889,266
138970163
423,872
1,313,384
24,967,871
2,127.640
17,516,135
4,391,169
102346161
49,620,683
151966844
452,185
,
1,388,290
Monthly.
Current
%
Monthly
Mileage.
+579,703
+826,152
+ 504,541
+1,084,596
4.49
6.24
3.84
5.07
+579,224
+267,384
+321,534
+475,570
+250,967
+ 100,016
4.27
1.93
2.35
2,64
Summaries
Cur. Yr.
September--237,59i
October—237,217
November—237,376
December -.238,072
January _—235,607
February.-.240,986
March--—240.510
April
240,740
Afav
—239,445
June90,012
$
9,737,969 7,833,718
45,899,678 41,346,406
24,206,461 20,602,321
2,361.211 2,208,514
1,856,892
1,710,600
14,689,417 12,620,115
13,074,932 12,160,584
1,353,354 1,239,708
492,095
516,577
8,213,532 6,464,046
5,030,900 4,693,815
2,126.903
1,915,499
119305425 105486185
73,693,485 67,847,929
Prev. Yr.
Previous
Year.
Year.
Doorcase.
$
3
%
Ina-cas(
or
235,140 272,209,629 252,318,597 +19,891,032
233,545 293,738,091 258,473,408
233,305
234,146
232,179
237,756
237,295
236,515
236,619
87,715
276,430,016
263,768.603
246,663,737
232,726,241
249.230,551
245,170,143
263,496.033
73,194,701
244,461,845
234,087,361
208.535,060
218,336,929
238,634,712
220,981,373
232,879,970
68,119,766
+35,264,683
+31,963,171
+29,681,242
+38,128,677
+ 14,389,312
+ 10,595,839
+24,188,770
+30,616,063
+ 5,074,935
%
7.83
13.64
13.07
12.68
18.28
6.59
4.46
10.90
1.90
13.14
roads)
14,055,757 13,955,741
0.72
7.44
Mexican currency,
ft Does not Include earnings of
Colorado Springs& Cripple Creek District Railway from Nov. 1 1911.
mb A
e Includes the Bor*
Albany, the New York Sc Ottawa, the St. Lawrence
& Adirondack and the Ottawa <fc New York Railway,
the latter of which, being a Canadian
toad,does not make returns to the
Inter-State Commerce Commission.
a
/Includes Evansville & Terre Haute and Evansville & IndianaRR.0 In¬
Lorain & Wheeling Ry. In both years,
n Includes the Northern Ohio RR.
P Includes earnings of Mason City & Ft. Dodge and
& Pacific.
* Includes Louisville
& Atlantic and the Frankfort A Cincinnati,
t Includes the Mexican
the Texas Central in both
International,
u IncludM
years and the Wichita Falls Lines
in 1912. beginning Nor. 1.
f Includes not only operating revenues,
receipts.
% Includes
but also all other
St. Louis Iron Mountain 4c
Southern.-
cudes the Cleveland
(Wisconsin Minnesota
July 26
Earnings by Weeks.—In the table which
Latest Gross
TRACTION COMPANIES.
ELECTRIC RAILWAY AND
separately the earnings for the second week
July.
The table covers 41 roads and shows 0.72% in¬
crease in the aggregate over the same week last year.
follows
233
CHRONICLE
THE
1913.]
up
we sum
of
Latest Gross
Jan. 1 to latest date.
Earnings.
1 Name of
3,308
30,482
68,765
42,670
1,131,358
1,037,863
93,495
152,000
174,983
1,127,785
16,339
184,441
174,000
179,526
1,012,125
15,112
184,166
588,008
558,531
1,117,000
218,950
617,617
10,967
12,217
205,000
411,814
1,159,964
1,854
283,20,3
22,125
85,799
518,138
489,769
1,076,000
211,916
972,644
10,875
10,615
234,000
391,018
1,194,561
2,854
278,168
21,369
72,041
69,870
(41 roads)——— 14,055.757 13,955,741
Net increase (0.72%)
657,876
100,016
Chesapeake A Ohio
Chicago A Alton
Chicago Great Western_ . Chicago Ind A Louisville-Cine New Orl A Texas Pacific—
Colorado A Southern
—
Denver & Rio Grande—;
Pacific
Western
_
_
_
-
24,575
Detroit & Mackinac
Denver & Salt Lake
—
Duluth South Shore A Atl—.—
Georgia Sou thorn A Fla
Grand Trunk of Canada
Grand Trunk Western
Detroit Grand Hav A Milw
Canada Atlantic.;
International A Great Northern
Interoceanic of Mexico
Louisville A Nashville
Mineral Range
Minneapolis A St Louia
A
Iowa Central
J
Minneapolis St Paul A S S M__
Missouri Kansas A Texas.
_
—
„
—
Mobile & Ohio
National Railways of Mexico—
Nevada-Cliafornia-Oregon
Rio Grande Southern.—
'
St Louis Southwestern
Seaboard Air Line
—- —
Southern Railway—
—
—
Tennessee Alabama A GeorgiaTexas A Pacific
Toledo Peoria A Western
Toledo 8t LoUis A; Western
97",665
24",688
""702
45", 137
4,083
10,787
28,748
"6",900
31,166
513
6,299
3,389
394
22,000
4,543
%
——
446,472
-----
Ch Ry. May
Bangor Ry & Elec Co May
Baton Rouge Elec Co May
c
28,927
168,721
60,285
12,231
Aur Elgin &
Belt
April
Line
June
Brock A Plym St Ry. May —
Bklyn Rap Tran Syst April
Cape Breton Elec Ry May ----Chattanooga Ry & Lt May
Cleve Painesv & East May—
Cleve Southw & Col. May
Columbus (Ga) El Co May
Commonw P.RvA Lt. April
Coney Isl & Bklyn.__ April
Dallas Electric Corp. May
Detroit United Ry__ 3d wk June
D D E B & Bat (Rec) April
Duluth-Superior Trac June
East St Louis & Sub. May
El Paso Electric Cos. May
42d St M A St N Ave April
J
Galv-Houst Elec Co. May
Grand Rapids Ry Co May
Harrisburg Railways June.
Havana El Ry LAP- Wk July 20
Brazilian Trac, L & P
355,027
92
1,602
29,000
20",796
34.597
1,000
5,035
756
13,758
557,860
Idaho
Earnings Monthly to Latest Dates.—The table
following shows the gross and pet earnings of STEAM rail
roads and industrial companies reported this week:
<
Net Earnings——
—r—Gross Earnings
Current
Previous
$
Year.
Year.-,
Year.
$
Year.
Previous
Current
%
$
9,015,427
8,314,833
2,300,286
2,474,516
101,556,132 92,594,323 27,776,494 27,884,785
Ohlo.b—June
&
July 1 to June 30—
Brazil Railway--„-.-May
£225,534
Jan 1 to May 31-£1,136,467
£206,715
£79,067
£98,726
£1,092,007
£448,867
£504,600
June 2.178.200
1,769,500
542,500
421,700
22.979.800 19,538,600
6,049.000
5,116.100
Canadian Northern
July 1 to June 30—
Kansas City Sou.b--June
July 1 to June 30.
Rio Grande Junction.
Dec 1
.May
*
to May 31-——
n22,995
nl27,162
n22,736
nl35,655
76.649
'■ 423,872
75,787
452,185
7,563,761
6,905,927
2,950,044
2,359,780
-93,638,459 85,977,609 34,941,966 31.219,413
Union Pacific.a
June
July 1 to June 30
"
"
263,842' ? 235,666
3,959,152 2,940,020
767,123
9,272,859
853,980
10,706.309
INDUSTRIAL COMPANIES.
Net Earnings—
Gross Earnings
Previous
Current
Previous
Current
■
Lake Shore Elec Ry. .May
Companies.
S
S
Year.
•$
.Year.
Year.
Year.
$
•
.
--——June
30,919
23,689
July 1 to June 30——
370,486
328,984
408,622
2,701,120
301,296
2,119,710
154,945
1,166,514
443.599
2,788,686
398,861
2,598,855
9,518
15,565
186,840
Elect
Detroit Edison
Jan
..--June
1 to June 30
i
161,993
117,599
910,977
859,612
224,079
53.837
98,894
196,824
59.838
5,870,180
195,876
596,107
1,055,475
146,685
604,622
905.333
Jan
1 to June 30.
-
'
Marion Lt & Heating—June
•
131,241
968,103
167,695
1,071,365
'
17,536
16,437
239,116
209,602
7,536
104,259
June
May
510.598
78,905
49,422
467,987
1,559,856
1*394,677
46,271
255.920
227,775
24.088
122.472
117,235
32,766
227,888
28,501
188,446
12,707
93,789
-June
31.705
229.212
62,509
451,280
437,151
54,957
49,814
239.127
210.541
17,336
May
May
June
May
April
April
15,410
461,401
62,237
2.485.909
55,049
2,325,541
511.566
434.399
387,024
1.037.372
78,737
72,400
184.147
173.675
48,663
30,833
12,185
107,596
__—
April
36,107
30.853
11,816
103,356
•
1232.153 1215.048
18,723
15,827
279,992 255.104
148.060
183,317
Northam EastonA W June
North Ohio Trac A Lt May
97.041
113.994
-
—
.»—
North Texas Elec Co May
422,066
,
892,438
184.453
114,394
134,323
108,224
42,125
375,496
44,713
408,969
5.848.536
1,205.720
834,726
5,612,566
82,402
1,100.375
650,370
115.214
88.232
Northw Pennsylv
30,874
26.674
129.344
Ocean Electric
6.542
25.645
6,150
21.417
22.770
24,141
20,628
115,016
114,516
7,784.912
Ry May——
(L I). April
Paducah Tr & Lt Co. May
Pensacola Electric Co May
—,—
Rap Trans Co_ April
May
May
Puget Sound Tr LAP May
Richmond Lt A RR. April
St Joseph (Mo) Ry.Lt.
Heat A Power Co. May
Santiago Elec Lt A Tr June.-
1998.245 1903,908
543.813
549.852
77.570
79,691
681,003
715,073
26,615
25.854
Port (Ore) RyLAPCo
Portland (Me) RR._
— —
-
98,836
(Rec)
—
Staten Isl'd Midland. April
100,294
7.321.162
2,669.653
341,772
3,423,922
96,553
503.415
224,885
473,233
333.193
298.005
191,943
318,71 2
57.180
71,507
75.862
10,593
18,686
63,365
15,779
19,499
Boulevards April
Southern
'
30.247
63.524
70,026
83.044
April
.
364.414
3,464.329
94,248
37.613
•
Savannah Electric Co May
Second Ave
2.724.648
'
19,502
116,321
114.217
325.927
286,264
38,270
68,015
308,227
1,219,038
69,556
328.335
308,719
166,435
152,560
1,287,850
4,568,818
£13,270
£13.600
£396,235
£392.025
Metropolitan Dist. Wk July 12
£13,044
£12.422
£369,222
£354.514
London Gen Bus.
Wk July 12
Union Ry Co of NYC April
£66.862
£61,181 £1.714.176
Tampa Electric Co.. May
Third Avenue
April
Twin City Rap Tran. 2d wk July
Underground Elec Ry of London
London Elec Rv_. Wk July 12
214,788 200,099
395,679
275,795
1120,757 1085.013
Rys of St L— May
38.940
42.644
Westchester Electric. April
Western Rys A Light June—1__
182,981
204,435
63.710
Yonkers Railroad
58,635
April
58,329
65.684
York Railways..---. May
18,683'
21,020
Younsgtown A Ohio. May
14.585
13,558
Youngstown A South M ay
Union RyGAE Co (111) May
United
_.
'
4,232,616
£1,333.115
741.075
801.619
1.478,600
1,950.386
5,144.938
161,726
4.901,759
163,775
1,065,406
221,569
280,263
1,206,239
194,896
300,631
94,540
63,692
89,971
59,200
9,238
74,054
Scranton Elect...June
370.842
168.519
102.627
490.669
N Y A Queens Co— April
New York Railways. May
3,072
87,755
June
411,716
699,141
5,021,969
206,075
549,431
954,431
312,422
543,796
751,991
484,640
-
Kings Co El Lt A P. incl
Edison Elec of Bklyn aJ'ne
2,276,200
437,398
150.065
135,050
435,179
214,169
2,007,485
April
.
Canton
239,4401
409,089
24.644
Phila
Baltimore
110,535
493,372
147,551
463,557
39.004
7,372,688
131.567
51,957
Interboro Rap Tran. June
Jacksonville Trac Co May
Lehigh Valley Transit
Lewis Aug & Waterv.
Long Island Electric.
Milw El Ry & Lt Co_
Milw Lt, Ht A Tr Co
Monongahela Val Tr_
Nashville Ry A Light
N Y City Interboro..
N Y A Long Isl Tr._.
62.044
2,288,501
115,009
681,114
262,567
59,088
198,912
9,942,639
322,078 314,532 1,286,645 1,249,947
34.186
164.699
152,887
36,343
577.021
3.105.274
2,930,888
621,154
2591,271 2507,143 16.760,698 16,395,469
250,846
52,515
274,796
59,834
466,336
107.140
498.932
116.371
129.983
674,034
794,482
148,222
Arpil
May
Traction
289,041
.
85,812
54,710
Traction Co— May
Illinois
88,888
34,804
100,774
43,372
490,119
37,245
—„
Hudson & Manhattan
120.618
720,450
53,790
13,901
108,624
48,717
545,577
118,205
184,737
255,570
52,566
110,530
221.798
69,037
157,401
202,470
107.572
Houghton Co Tr Co. May
41,000
7,034
2,427,098
159.261
123,315
Honolulu Rapid Tran
& Land Co
May
68,762
417,804
25,207
54,272
62,334
242,880
1916,693 1733,979 11,552,887
10,279
41,364
9,759
2002,510 1937,196 7,504,169
143,981
28,578
29,989
— — -
?75
Net
Roads.
S
Atlantic Shore Ry— May
N Y A North Shore..
.
Year.
S
— —
115,660
1,227
Total
>
Year.
—
____
Missouri Pacific
Year.
or
"
39,088
17,800
—
Previous
Year.
Rys Co— June
American
10,271
Current
Month.
Decrease.
215,785
436,700
2,701,000
579,897
281,769
282,087
118,997
167,383
238,627
449,100
113,400
24,062
24,183
72,154
43,064
Buffalo Rochester A Pittsburgh
Canadian Northern—
Canadian Pacific
j
78,394
42,379
88.665
39,071
254,873
454,500
2,604,000
604,585
281,067
327,224
123,080
178,170
267,375
442,200
144,500
Alabama Great Southern-Ann Arbor
Increase.
1912.
1913.
July.
of
Previous
$
week
Second
Current
Week
Road.
July 1 to June 30——
MuncieEIec Lt.
Jan
1 to June 30--
Rockford Elect—
Jan
Jan
1 to June 30
1 to June 30
Southern Cal Edison...June
Jan 1 to June 30-
Wheeling Elect
411,081
2,283.945
-.June
24,832
_Jan 1 to June 30—-j.
13,270
97,860
16,001
28,374
207,644
'
122,872
56,716
394,782*
•
'
28,767
215,464
33,435
276,277
18,272
154,061
10.233
Electric
gives
71,907
company.
Railway Net Earnings.—The following table
the .returns
ELECTRIC
of
railway
gross
and net
earnings reported this week:
-Gross EarningsPrevious
976,328
8,670
123,445
,
These figures are for consolidated
154,418
225,108 "
1,142,088
354,221
2,074,553
c
59,137
Currenf
Roads.
*
Year.
Year.
-Net Earnings
Prvious
Current
Year.
$
$
■
Year.
$
'
a
Net earnings here given are after deducting taxes.
deducting taxes,
American Lt A Tr__
■
Jan
b Net earnings here given are before
n
Th?se figures represent 30% of
Interest
,
•
Roads.
Jan
*
Year.
%
RioGrande
Year.
%
Junction—-May
8,333
50,000
Dec 1 to May 31
8,333
50.000
1
to
Jan
1 to June 30
Jan
Bal. of Net Earns.—
Current
Previous
Year.
Year.
$
$
Jan
Federal
77,162
Jan
65,120
436,95 0
Jan
180.935
162,894
72,705
1,181,533
1,038,339
506,397
85,812
467,987
78,905
437,151
17,543
80,149
21.037
119,770
June 2,591,271
2,507,143
31,246,392
1,327,127
17,120.247
1,259,679
16,219,159
62.747
689.831
35,002
341,066
24.080
264,350
794,482
129.983
674.034
83,007
415,260
73,535
348,774
275,743
1,584,880
270,067
1,526.663
108,117
689,106
112,472
655,638
295.928
1,751.051
Light A Tract.-June
1
to
June 30
June
1
to
June 30—
Interboro
Rap Tr_a
July 1 to June 30
32,497,871
68,467
58.316
59,283
555,650
Lehigh Valley Tran_b—June
148,222
355,327
102,461
824,782
June
3,200
36,043
3,769
60,939
def 128
51,712
7,046
42,171
6,451
38,152
5,661
51,618
2,787
35,902
Third Ave System.a
8,034
47,552
7,815
7,967
46,948
75,320
5,455
50,912
Virginia Ry A Pow_b-„June
418,962
July 1 to June 30
4,864,107
12,252
16,380
3,767
43,320
72,460
183,290
Southern Cal Edison...June
68,755
Jan 1 to June 30—409.705
59,066
359,689
xl59,739
3:735,832
3:99,458
*641.848
4,039
5,019
39,312
1 to June 30-
,
5,214
„
1 to June 30
32,595
25.732
After allowing for other income received.
-
to June 30
3:62,147
x559,929
73,363
436,726'
June
-—June
Jan 1
Louisville Ry_b
Jan 1 to June 30
*101,908
3:656,193
71,198
447,343
June
44.654
226,687
596.107
52,493
16;515
143,004
x
934,493
5,346,929
48,872
229,622
742,980
-June
Jan
995,102
'6,147,791
98,894
549,431
Kentucky Secur Corp b June
July 1 to June 30
1 to June 30——
Wheeling Elect—
1',733 ,'979
9,942,630
110,530
1 to June 30__
Harrisburg Rys
14.662
14,403
85,655
17,055
92,987
Jan
1,916,693
11,552,887
4,751
104,864
July 1 to June 30
Scranton Elect
—
9,843
129,017
Marion Light A Heating J'ne
Rockford Elect-
1.917.806
341,732
1 to June 30
Muncie Elect Lt
Jan 1 to June 30
324,923
2,019,500
4,767
57,129
-June
Kings Co El Lt & Power, incl
Edison Elec of Bklyn.June
Jan
315,151
1,979,218
5,722
57,823
June
June 30
Detroit Edison.
1 to June 30
'
4,631
33,405
g
Jan
1
to June
588,780
558.355
3,271,421
1,722,554
78,737
442,066
30.
313.643
3,265,540
June
Mexico Tramways
72,400
387,024
51,323
290,411
42.362
227.882
999,571
869,003
410,942
229,216
Monongahela Vail Tr_b June
Jan
1
to June
30
June
Western Rys A Light--.June
Jan 1 to June 30
—
a
Net earnings here given
204,435
1,206,239
are
386,620
4,558,193
182,981
1,065,406
221.086
2,447,119
178,779
2,135,290
76.029
414.083
67,355
366,304
after deducting taxes.
bNet earnings here given are before deducting taxes.
g
306,151
335,107
2,083,086
-June
Duluth-Superior Trac b June
INDUSTRIAL COMPANIES.
Canton Elect Co
July
—
to June 30——
Brazilian Trac, L A P__June
gross earnings.
Charges and Surplus.
—Int., Rentals, &c.
Current
Previous
1
These results are In Mexican currency*
234
Interest
Rentals,
Union
Bal. of
&c.
Current
Previous
Year.
Year.
Net Earns.—
Previous
Year.
$
Current
Year.
Roads.
25.299
1 to June 30
$
$
$
Duluth-Superior Trac.-June
Jan
149,208
21,917
90,262
23.573
80,414
22,737
136,425
Interboro nap Tran___June
Wt.UUH
U
1460,455
Rap xiau...uuJJU
924,960
914,276
July 1 to June 30
11,070,669 11,000,593 *6,537,068
*1,292,654
v
19,145
225,268
13,825
195,115
*17,591
*145,644
*11,613
*93,936
Lehigh Valley Transit..June
46,518
274,344
42,209
244,939
36,489
140,916
103,835
70,167
416,833
65,000
384,333
*58,622
*354,331
*73,883
*371,301
27,196
145,751
20,508
114,776
*268,479
1 to June 30
Louisville
Jan
Ry._,June
1
to June 30
•
-
Monongahela Vail Tr__June
Jan
24,127
144,660
June
Virginia Ry & Power
21,854
113,106
162,266
1 to June 30-
Third Ave System
144,648
June
July 1 to June 30——
120,595
*100,427
1,423,201 *1,033,321
128,209
1,500,501
Western Rys & Light..June
*64,533
*781.247
'* *27,822
*23,034
*114,826
51,221
304,733
»■-.
Jan
-
1 to June 30
After
*
'
31,326
46,066
262,015
*123,728
allowing for other income received.
York
New
Street
„
A
Roads.
Year.
Operating
—Net EarningsPrevious
Total income..
Fixed and other charges.
Surplus for
common
stock
stock
ent to
15.06%
on
$;
6,086,32 1
5,868,54 1
3,661,545
3,483,143
1,339,002
5,226,035
1,344,200
5,267,324
658,079
2,475,387
673,157
2,525,685
Total Interboro RT.a. Apr 2,850,646
Jan 1 to Apr 30—.11,312,353
2,806,389
11,135,862
1,559,088
6,134,931
1,546,396
6,008,828
Brooklyn Rap Tran.a—Apr 2,002,510
Jan 1 to Apr 30—. 7,504,169
1,937,196
7,372,688
710,260
2,368,860
657,628
2,346,033
New York Railways_a..Apr
1,157,654
4,397,518
412,407
1,596,136
389,476
1,279,599
54,272
198,912
22,750
41,082
3,592
def6,839
75,862
286,264
17,989
47,769
9,167
14,808
308,719
1,219,038
130,964
496,987
148,346
Percent exp.to
554,384
Passengers
13,471
48,682
16,535
25,479
Apr
1 to Apr 30—.
Jan
,
Second
62,334 '
242,880
Avenue.a
Jan
83,044
318.712
..Apr
1 to Apr 30.—
.
.
Third Avenue.a..
Jan
.
1
to
Apr
328,335
Apr 30— 1,287,850
Dry Dk E Bway & B.a.Apr
Jan 1 to Apr 30—
52,566
195,876
53,837
206,075
42d St M & St N Ave.a.Apr
Jan 1 to Apr 30—
157,401
604,622
NY City Interboro. a. ..Apr
Jan 1 to Apr 30
1
146,685
543,796
cl88,636
720,014
'■/'
67,125
241,263
55,168
141,258
48,663
184,453
36,107
134,323
45,779
57,180
10,593
38,270
Union RyofN Y City.a.Apr
Jan 1 to Apr 30—
214,789
801,619
200,099
741,075
Westchester Electric.a—Apr
Jan 1 to Apr 30-.—
42,644
161,726
38,940
163,775-
12,919
1,257
2,079
63,710
15,954
20,064
Jan
Yonkers.a
Apr
58,635
■:X Jan 1 to Apr 30.—..
194,896
Long Island Electric.a..Apr
Jan 1 to Apr 30——
17,336
221,569
15,4i0
62,237
55,049
N Y & Long Is. Trac.a.Apr
Jan 1 to Apr 30—..
30,833
114,394
NY&North Shore.a—Apr
Jan 1 to Apr 30——
12,185
44,713
N Y & Queens.a
Apr
Jan 1 to Apr 30—
107,596
408,969,
'
Ocean Electric.a--
Apr
-
4,975
22,322
5,466
20,406
30,853
108,224
"
4,474
•'
1,344
6,713
def9,781
44,722
135,320
61,679
136,703
4,041
41,382
42,635
def540
def7,814
defg,489
Operating
def2,464
3,887
def24
183
2,380.
5,413
14,224
26,409
def6,346
def81,682
863
766
.
103,356.
375,496
Apr 3Q—
defl2,990
Coney Isl & Bklyn_a..-Apr
Jan 1 to Apr 30—
118,205
437,398
110,535
411,716
30,659
105,541
Net oper. revenue___$19,237,128
Richmond Lt & RR_ a--Apr
26,615
100,294
25,854
96,553
602
def35,554
Income from oper
19,499
71,507
18,686
68,015
2,453
3,111
1 to Apr 30.
Staten Island
*
Jan
1
to
— ..
Midland.a.Apr
Apr 30—
c
Net earnings here given
defl,5l4
.
3,745
after deducting taxes,
are
*
sit
ANNUAL REPORTS.
Annual Reports.—The following is an index to all annual
reports of steam railroads, street railways and miscellaneous
companies which have been published since June 28.
This index, which is given monthly, does not include
reports in to-day's "Chronicle".
Reports in Volume 96,
are shown in heavy-faced type.
'
Page.
A Ohio RR.—(Prelimin¬
statement)
113
Grand Rapids & Indiana Ry
173
Railroads.
.
ary
Southern Pacific
!
statement)
Electric
173
Railways.—
(Concluded.)—
Page..
Co., Ltd., Mont-47
Dominion Textile
Fort Worth Power A Light Co
53
International Motor Co., N. Y
44
Island Creek Coal Co
Co.—(Preliminary
46
Lanston
Monotype
Machine
Co.,
Pbila
<■
Cumberland County Pow. A Lt. Co_
Industrials.—
Industrials
175
45
Lawyers'
Mortgage
(6 Mos. June 30)
Co.,
N.
Y.—
115
Adirondack Electric Power Corp
46
American Car A Foundry Co., N. Y.1836
American Coal Products Co.,N.Y_.
46
Marconi
American Glue Co., Boston
Mexican Telegraph Co
Montreal Cotton Co
116
Montreal Water A Power Co
115
American
Hardware
173
Corp.,
New
Britain, Conn
American
La
France
174
Fire
American Pneumatic Service Co
46
113
44
burgh, Pa__
,T
June 30)
46
116
178
Building
47
Co
45
44
Kentucky Co., Roches¬
ter. N.Y
174
Niagara Falls Power Co., N. Y_.
1837
Northern States Power Co
55
55
47
115
Davis
Co.,
Steel
Co.
of
45
Canada, Ltd., Hamil¬
Copper Co
Detinnlng Co., N. Y
44
...
47
Western Grocer Co.,
Westlnghouse
Oskaloosa, la.. 173
Machine Co.,
East
Pittsburgh, Pa
43
16
174
ton, Canada
48
U. S. Cast Iron Pipe A Foundry Co.,
N. Y
1837
Vulcan
$2,337,069
40.80%
$1,273,766
$1,640,037
$2,932,147
41.55%
41.76%
37.99%
634,316,516 607,244,697 578,154,088 562,788,395
Includes first dividend, 15% ($900,000) ,on capital stock of Rapid Tran¬
Subways Construction C0.---V. 96, p. 1701.
;
West Penn Traction & Water Power Co.,
Pittsburgh.
{Official Statement for Year ending June 30 1913.):
During the past 18 months the company expended about $7,000,000 for
extensions, improvements and betterments and in the acquisition of new
properties, which has been responsible for the increase in fixed charges.
The remarkable growth of the lighting and power business in West Penn
territory necessitated much construction work, from which only a compara¬
tively small return is reflected in the report below", but, as this construction
has been practically completed, it is reasonable to oxpect an even larger
ratio of net earnings in the future.
1913.
1912.
1911.
Gross earnings
$4,181,728
$2,666,295
$2,071,883
Operating expenses and taxes
2,342,3391,375,629
1,015,878
Net
$1,839,389
r.
Balance
Guaranteed
dividends..
$1,290,666
1,047,468
623,429
479,748
$791,921
earnings
charges.
Fixed
$667,237
$576,257
235,000
.Surplus....
$556,921
$1,056,005
235,000
•
235,000
$432,237
$341,257
Compare V; 94, p. 984,1318,1628; V. 95, p. 237, 298,1333; V. 96, p. 418.
Philadelphia Rapid Transit Railway,
'
{Report for Fiscal Year ending June 30 1913.)
Mitten, Chairman of the Executive Committee,
in substance:
'
c
Thomas E.
.
Trusts—New Cars.—The company on April 10 1911
permission fiom the City of Philadelphia to borrow $10,000,000
for improvements and additions, including 1,300 cars of the most modern
type, to be furnished during the five-year period ending June 30 1916.
In order to render adequate service, it has been demonstrated that a greater
number of cars is necessary and within the much shorter period of 2 ^
years ending Dec. 31
1913.
Application was therefore made to the city government during Feb. 1913
to sanction a larger plan of financing, providing for the issuance of car
trusts to cover the purchase of new equipment then secured or contracted
for or to be later provided, thus releasing a portion of the $10,000,000 bond
issue to finance the additional power development and expenditures for
larger car houses, which this policy of expansion entailed.
Enabling ordi¬
nances having been approved by the city, car trust agreements were exe¬
cuted providing for the issuance of car trust certificates maturing in equal
semi-annual installments during a 12-year period, and covering approxi¬
mately 80% of the purchase price of 1,450 near-side and 80 elevated cars
(V. 96, p. 420, 554. 654, 1490).
The first 50 near-side cars, purchased in July 1911, are not covered by
the car-trust agreements, thus making a total of 1,500 nearside and 80
elevated cars, of which 1,070 near-side and 30 elevated cars have been re¬
ceived to June 30 1913, the remaining 430 near-sido. and 50 elevated cars
being on order for delivery prior to Dec. 1 1913; 650 near-side and 50 of the
elevated cars were ordered by the company during the fiscal year ended
...
asked
JU[The(issue
March
1
of Equipment Trust gold 5% certificates. Series B, dated
1913, is limited to $4,200,000, the Fidelity Trust Co. of Phila.
being trustee.
Interest payable M. & S.
This issue was offered by Drexel
& Co., Phila., on Feb. 25 at prices ranging from 99.9560 and int. to 99.1993
and int., to net about 5.09%.
These certificates mature $175,000 semi¬
annually beginning Sept. 1 1913 and ending March 1 1925, but are subject
to call any interest date at 102M and inf;.
The equipment, which cost
about $5,250,000 (exceeding by a cash payment of $1,050,000 the amount
of certificates), includes 80 steel elevated railroad cars and 950 double-
"near-side" closed vestibule (Brill) cars.]
Equipment trust series A, $1,500,000, was placed by Drexel & Co. in
and int. Certificates dated July 1 1910,
Int. J. & J.
Ma¬
turity $75,000 semi-annually J. & J.
Trustee, Commercial Trust Co.,
truck
1910 at par
Philadelphia.]
Detroit.—(Bal¬
Sheet Dec. 31)
Southern New England Teleph. Co.
Standard Chain Co
ance
Utah
179
Cleve. A Sandusky Brewing Co
Copper Range (Mich.) Consol. Co__
Cramp (Wm.) & Sons Ship A Engine
43
(W. H.) McElwain A Co., Boston..
48 Parke,
Casein Co. of America, N. Y
48
Central Coal A Coke Co., Kans. City
48
Central Foundry Co
1837
Chicago Railway Equipment Co....
Claflln (H. B.) Co.—(6 Moa. ending
Co. of
Pacific Power A Light Co
American Window Glass Co., Pitts¬
American Writing Paper Co
Buffalo General Electric Co
Buffalo Mines Co
Wireless Telegraph
America, N. Y
New York A
Engine
Co., Inc., Elmira
American Power & Light Co
earns._
carried
New Financing—Car
Other income amounted to $73,498 in April 1913, agst. $81,239 in 1912.
Baltimore
$17,120,248 $16,219,159 $15,473,280 $16,224,083
487,490
*1,305,200
339,915
411,024
income—.....$17,607,738 $17,524,359 $15,813,195 $16,635,107
11.070.669, 11,000,593
10,673,158
10,552,960
Surplus............
says
a
$18,198,590 $17,398,370 $17,974,505
1,979,431
1,925,090
1,750,422
Net corporate income $6,537,069
$6,523,766
$5,140,037
$6,082,147
Dividends —._(12%)4,200,000(15)5250,000(10)3500,000 (9)3,150,000
4,326
Jan
.
1910.
Total income deductions
1,735
def6,133
'
to
2,116,880
Non-operating income..
Gross
'
1911.
$32,497,871 $31,246,392 $29,767,352 $28,987,648
13,260,743
13,047,802
12,368,982
11,013,143
expenses
Taxes...,
14,708
69,070
1
1912.
5,014
def9,828
.11,816
42,125-
6,150
19,502
Jan
1913.
,
532
'«
6,542
20,628
"
.
Year ending June 30—
Gross oper. revenue
•
Boulevard.a..Apr
1 to Apr 30
Southern
surplus for 1913, the surplus
177, 50.
(Statement for the Year ending June 30 1913.)
Interboro R T (Elev).a.Apr
Jan 1 to Apr 30
1,202,761
4,616,383
stock, compared with 13.87%
Interborough Rapid Transit Co.
•
873,239
Apr 30
common
would have been equivalent to 15.94% on com. stock.—V. 97,
p.
903,009
314,532
—
the $216,633,900
for the year ended June 30 1912, an increase of
1.19%.
The estimated surplus does not include the fourth
quarterly dividend on
Southern Pacific Co. stock, payable on Oct. 1 1913,
amounting to $1,899,-
1,462,189
to
$32,622,185 $30,058,249 $35,994,018
(10%) .*$21,664,739 $21,664,739 $21,659,671
Supplied by "Chronicle" and believed to be approximately correct, as
of common stock remains substantially
unchanged.
Note.—The estimated surplus for the year ended June 30 1913 is
equival¬
1.249,947
1
$34,039,993 $39,975,762
3,981,744
3,981,744
amount
1,511,644
Line.a.
.
*
Interboro RT (Sub).a.-Apr
Jan 1 to Apr 30—_
Jan
.$52,866,338 $50,115,917 $54,354,717
16,262,413
16,075,924
14,378,955
....
on common
Dividends
el78,120
706,221
Belt
.
Income in excess of charges......$36,603,925
Preferred dividends, 4%-----^
3,981,740
Year.
Year.
$
,
1910-11.
Current
Year.
1,286,645
1911-12.
.$34,947,686 $31,219,413 $35,711,127
17,918,652
18,896,504
18,643.590
revenues
Income from investments, &c
this dividend had been included in estimated
$
322,078
1912-13.
,
750, although the corresponding dividend for the preceding year, paid on
Oct. 1 1912, is included in the surplus for the year ended June 30
1912.
If
Railway.
——Gross Earnings
Current
Previous
Hudson & Manhattan.a.Apr
Jan 1 to Apr 30.
Railroad.
Average miles of road operated
7,349
7,150
6,678
Gross operating revenues-_._.___._$93,638,457
$85,977,609 $88,983,108
Operating expenses.
$54,024,169 $50,389,407 $49,807,834
Taxes..
4,666,602
4,368,789
3,464,147
*106,418
Jan
Pacific
xcvii.
{Preliminary Statement for Fiscal Year ending June 30 1913.)
*6,523,766
Kentucky Secur Corp_.June
July 1 to June 30.^—-
•
(Vol.
Charges and Surplus.
-Int.,
L
CHRONICLE
THE
43
In accordance with the Stotesbury requirement, 15% of the annual gross
earnings are set aside for maintenance and renewals.
Following the es¬
of the company, 50 % of the total cost of the new near-side
cars, representing the cost of the small four-wheel cars replaced, will be
paid through the medium of the renewal reserve.
The car-trust plan,
therefore, provides,that the down payment, representing 20% of the cost
of these cars, be met out of the reserve fund for renewals, as shall also the
payments on account of the retirement of the car-trust certificates maturing
during the, next four or five years to an amount equaling 30% of the cost,
thus making a total of 50 % of the cost of these cars which shall be paid for
out of the renewal fund.
The car-trust certificates representing the re¬
maining 50% of the cost of these cars will commence to (mature four or five
tablished policy
years
hence, and will then be refunded by the issuance of capital obligations.
aaaaiaiiiawiaiBBBaM^^
generally are low.
There should be an increase in business activity in the
near future,
which, if realized, considering the large amount of unfilled
orders on hand, suggests satisfactory operations during the balance of year.
Additions.—The company is now engaged in the enlargement of its
Other
235
chronicle
the
1913.]
July 26
house and the install uion^of approximately 20,000 h
This increased supply of power,
power-generating machinery.
This inc
power, contracted for
together with 6,500 h. p. of additional purchased
delivery from the Philadelphia Electric Co. commencing Nov. 15 next,
will serve to insure the continuity of the power supply, and also make pos¬
sible the operation of the additional service to be provided during the coming
Beach Street power
of additional
Unfilled Orders for Finished
_
and Semi-Finished Product and Pig Iron {Tons)
Finished, cfee
Dec.
winter.
June
expenditures for standard-track reconstruction
period ending June 30 1913 amounted to $318,309,
of which $159,154, being 50% thereof, and representing the cost of the
lighter and obsolete type of track replaced, was charged to the reserve
Reconstruction.—The
Dec.
during the two-year
Pig Iron.
1913—.504,928
1912
613,053
*—464,1
1912. .-454,961
1911 —-414,431
30 1911—-481,425
59,906
92,757
96,935
158,392
102,077
30
31
30
31
June
June
Dec.
June
Dec.
June
being in accordance with the conservative policy
above set forth.
31 1908—391,040
-Six
June 30 *13.
$3,451,110
872,902
880,536
896,644
$2,776,647
31,783
$2,570,574
31,130
$956,356
57,249
$2,808,430
$2,601,704
$1,013,605
$283,391
$251,596
$87,746
112,145
440,473
123,726
91,723
467,295
359,646
Net profits.
— — —$1,972,421
$1,759,086
on preferred stock
(3*6 %)875,000 (154)437,500
Special approp'n from surplus
——
$474,490
$1,321,586
$53,673
Balance
repairs of plant
-
—
Int. and div.
payments made by the company from its earnings throughout the balance
These payments began in July 1912 and
— —
—
Maintenance and
received, less int. paid--
of the term of the city contract.
Total
aggregated $120,000, as shown in the income account.
$100.
Service.
Service.
Service.
23c.
23c.
23c.
23c.
23**
23 H
23**
Plant, &c
24
New
23
Jan.
1 1912
22
July
1 1912
11913-
...
23
24
23
23*4
22
22**
Jan.
24
24**
26
27
,
24
22% of gross passenger receipts, which
motormen and conductors.
INCOME ACCOUNT YEARS ENDING JUNE 30.
906,247
Other receipts
Total
897,906
Martin Coke Wks.
Expenses—
Maint. and renewals.--*$3,589,077 *$3,405,105
1,531,573
,454,122
Oper. of power plants.5,765,413
6,129,119
Operation of cars.
2,087,968
1,807,948
General
1,158.772
1,225,488
Taxes-,,
-
$3,229,420
1,427,022
5,348,479
1,988,648
1,155,491
—
—
Maintenance and
receivable
$
74,161,619
1,297,998
1,149,233
69;370,422
1,403.731
1,149,233
1,423,749
1,632,430
29,978,875
676,849
29,977,120
260,236
67,064,008
749,697
1,142,303
1,311,996
1,689,168
29,977.120
358,251
.
reserve-
Capital stock paid in——
Surplus—
Total
*
1,089,534
reserves
*
——
110,937,864 105,216,921 102,292,543
_.
Renewal
reserve
includes special appropriation in accordance with the
as
ecial
wicn rne
Stotesbury requirement, $1 ,500,000, unexpended balance of appropriation
of 15 % u, gross earnings for the year ending June 30 1911, $604 ,728, for the
/<7 of ftiuoo cm luii^a
year ending June 30 1912, $724,082, and for year ending June 30 1913, $1,093,564, and proceeds from sale of obsolete equipment, &c., $93,216: total
$4,015,590, less deficits for years 1910-11 and 1911-12 as above, $415,560
and $150,489, respectively, 50% of the total cost of the first 50 near-side
cars and disbursements to June 30 1913 on account of the 20%-down pay¬
*
A.,
required under the car trust plan covering the purchase of 1,450 near¬
$961,530: 50% of the cost of standard track reconstruction,
$159,155, and miscellaneous, $87,629, leaviug balance of $2,241,226.
—V. 96, p. 1773.
ment
side
cars,
$8,386,700,
Byllesby, Chicago, Mar. 3 wrote in sub.
and
Ohio.
com.,
$5,725,000.
Funded Debt of Minneapolis General Electric Co. as to Stock {See "Notes"
1st M. 5% bonds of 1904, due Dec. 1 1934, auth. and issued,
above)
$8,000,000; canceled by sinking fund, $70,000: outstanding..$7,930,000
Franchises.—These are free from objectionable features and afford satis¬
factory working conditions.
The franchise of Minneapolis General Electric
Co. is, in opinion of counsel, unlimited as to time.
The only cities of any
Importance in which the company has not contracts with the city for street
are
St.
Paul and
Grand Forks.
Properties Embraced in Consumers' Power Co. and Populations Served.
Minneapolis and immediate suburbs—Electricity (no competition) .301,574
St. Paul. Minn., and immediate suburbs—Electricity (in competi¬
tion with St. Paul Gas Light Co.) and in part steam heat.'
....214,744
Stillwater, Minn., division—Electricity and gas (no competition).. 14,513
Fargo, N. Dak., division—14.5 miles of street railway, electricity,
artificial gas and steam heat (no competition)!
19,571
Galena, 111., and Platteville, Wis., division—Electricity, princi¬
pally in the zinc mining operations (no competition)
14,398
St. Croix division, Taylors Falls to suburbs of Minneapolis—Elec...
ydr
tricitygenerated at Taylors ,Falls hydro-elec. station (no compet'n)
„
.
Grand
Forks,
steam heat
Republic Iron & Steel Co., Youngstown,
Chicago.
(of Delaware),
Outstanding, all owned by Northern States Power Co., pref.,
$7,500,000.
Illumination
*
M.
H.
Co.
Year ending Dec. 31 1912.)
.
102,292.543
Accrued fixed charges
Power
General M.
1,211,475
Bonds, mtges., ground rents, Ac
Accts. pay'le, pay-roll, accr. taxes,&c.
for depredation
of Consumers Power Co. of Minnesota {Entire Capital Stock
Owned, V. 96, p. 288).
5% bonds, dated June 1 1912, due June 1 1937,
auth., $75,000,000; issued, $5,000,000, ail lodged as part col¬
lateral to notes of Northern States Power Co
;
.See above
1st M. 5% bonds, dated Nov. 1 1909, due Nov. 1 1929 (see
V. 96, p. 288), auth., $10,000,000; outstanding. —
;
$6,363,000
Reserved to retire bonds on constituent properties
3,165,000
Issued and in treasury, $454,000; unissued
$18,000
(Stock of Consumers'Power Co.: Authorized: Pref., $10,000,000; com.,
414,900
1,200,000
1,432,063
*2,24.1,226
-----
...—.-85,470,602 83,067,507
Funded Debt
99,588.109
--110,937,864 105,216,921
Total
Liabilities—
Renewal
•
1,271,929
Total
2,746
5,339,891
posit of $5,000,000 Consumers' Power Co. general 5% bonds and
Minneapolis Gen. Elec. Co. stock, (pref.,$993,000; common,
$3,373,500), being the entire issued stock except $8,500, the
equivalent cash value of which is deposited with the trustee)
Auth. and outstanding (V. 94, p. 1701; V. 95, p. 180)-.a
5,000,000
Leases,
Supplies, material, prepaid items and
7,758,898
Capitalization of Northern States Power Co. {Incorp. In Delaware in 1909).
Pref. stock, 7% cum., auth., $16,000,000; outstanding
.——$8,380,700
Common stock, auth., $l4,O0O,OOO; outstanding
1
5,975,000
6% notes, dated June 1 1912, due June 1 1917.,
Secured by de¬
June 30 '11.
June 30 '12.
Jwne30'13.
States
(Report for Fiscal
'
$
- $
franchise, construe., equip.,
advancestoleasedlines.sk. fd.,&c.l09,008,799 102,522,859
Cash.--..
359.596
1,142,548
Securities from fire insurance fund..
_V
Reserve for renewals, net..
297,539
340,038J
199,446
748,632
561,474
440,246
$2,107,106; for re-lining furnaces, $395,732; for fire and acci&c., $386,601; for contingencies, $101,175..
Includes also Palos Coke Works properties In 1913.—-V. 96, p. 1301.
Northern
1912-13 include amount expended, $2,-
Assets—
2,000,277
*4,820,082
152,530
dent insurance,
1,337,468
7,296,786
{Compare V. 91, p. 789).
payable.
and renewals,
$9,211,840
$8,902,350
$8,795,969
$8,634,254
sur$509,582 def$150.489 def$415,560def$1329,723
renewals in
Accounts
5,233,654 Accrued taxes....
2,717,830 Dividend warrants
312,287
184,015
475,801
1,789,772
4,203,917
181,897
372,567
♦Includes fund for exhaustion of minerals, $1,829,568;
120,000
BALANCE SHEET
Accident
704,383
contracts
Reserve funds
5,113,445
3,700,370
85,470,662 83,067,507
Total
495,513, against $2,631,023 in 1911-12, and unexpended balance, $1,093,565, against $724,082.
accounts
Ore
— — —
Pres.
—
deficit
Accrued interest..
309,000
Profit and loss...
$2,420,221
1,460,677
4,527,960
1,853,123
1,194,635
1,469,749
7,326,220
1,509,474
7,392,876
1,728,222
7,363,618
a
Total...
*
6,646,448
j
Dividends accrued
-$14,205,755 $13,948,831 $13,149,060 $11,456,616
$8,380,409
$7,304,531
$8,751,860
$9,721,423
Sink, fund city contract.
sur. or
6,724,539
pay¬
681,214
Cash
a
Total expenses-.
Net earnings:
Interest
Rentals
B&l.,
bonds <fe notes,
materials
contract
298,500
a421,191
jointly guar
$23,927,179 $22,700,691 $21,529,469 $18,761,147
-
bonds
Potter
873,517
receivable
$21,727,463 $20,612,687 $17,991,100
- '
973,223
916,782
770,047
Passenger earnings——$23,020,932
Ore
218,300
Prepaid
royalties
& expenditures.
Raw and finished
Accounts and bills
1909-10.
$
stock...25,000,000 25,000,000
First mtge. bonds.
967,000
1,578,000
960,984 10-30-yr. a. t. 5s._ 13,305,000 12,733,000
1-year collat. notes 2,000,000
3,000,000
Preferred
935
ments
1910-11.
1911-12.
•:
1912.
$
Common stock...27,191,000 27,191,000
bonds
mortgage
Ore
1912-13,
958,412
companies
is devoted exclusively to wages of
1913.
1,536,729
Cash to redeem 1st
28
26
27
-23
24
May 1.1913
29
27
28
24
25
July 1 1913-In the past year, also, 2,000 cleaners and repairers of cars have received
substantial wage increases, but their pay is not taken from the fund of
420,817
JUNE 30.
Liabilities—
$
$
—.66,376,367 64,151,273
construction. 1,041,863
Investm'ts id other
25
25
$1,097,421
1912.
,1913.
Assets—
22
1 1911
—
BALANCE SHEET
Service.
Scale made effective---
July
'
Balance, surplus.
23c.
1911—22c.
$1,853,000
Dividend
Service.
Men.
— ,
-
Depreciation and renewal of plants—
Provision for exhaustion of minerals.
Interest on bonds and notes.-
Wages for Motormen and Conductors.—Under the Stotesbury-Mitten
management, the wages per hour of motormen and conductors have been
advanced as follows:
-After3 yrs.'
2 yrs.'
4 yrs.'
5 yrs.'
Wages
New
1 yrs.'
per Hour—
In force June
profit
Deduct—
Fire Insurance.—Policies were taken out June 21 1913 to an amount of
$22,500,000 at a rate of 35c. per $100, representing an annual premium of
$78,750, against protection of $21,000,000 secured June 21 1912 at the rate
of 45c. per $100, calling for the payment of an annual premium of $94,500.
The rate of premium during the year commencing June 21 1911 was 50c.
:
Months EndingJune 30 '12.
Dec. 31 '12.
$3,649,549
profits
Gross
£
per
82,906
39,995
94,247
89,934
RESULTS FOR SIX MONTHS.
Jity
Sinking Fund.—The contract of July 1 1907 with the City of Philadelphia
rovldes for the establishment of a sinking fund which will enable the city
gh the purchase of the capital stock, the property and
franchises of the Philadelphia Rapid Transit Co. at the expiration of the
contract in 1957.
This sinking fund is to be built up by certain graduated
during the past year
ron.
378
M'i
31 1909—.457,785
30 1909.-392,420
Dec.
fund for renewals, this also
of the company as
Pi
Finished, &c.
31 1910...293,734
30 1910—.341,887
N. Dak., division—Electricity,
(no competition) _
artificial
gas
nd
am
—
7,607 •'
16,768
Faribault, Minn., division—Electricity and gas (no competition)__ 21,420
Mankatc, Minn., division—Electricity and gas (no competition)__ 12,120
Minot, N. Dak., division—Electricity and telephone (no compet'n)
6,188
The 1910 Census population of St. Paul and Minneapolis showed a popu¬
lation of 516,152; town and village population served, exclusive of the two
cities above named, 128,507;
total, 644,659 (contrasting with 470,154 In
1900, a gain of 37%, and it is believed with not less than707,018to-day.)
as to a rural and farming populatio:
In addition we supply electricity and gas to a rural and farming population
ion
Total population served, including this rural and
of large proportions.
iding
i
Total
All of the territ
farming population, estimated not less than 750,000.
estimated not less than 750,000.
All of the territory
...
(Report for
Half-Year ending
Chairman John A. Topping says
June 30 1913.)
in substance:
Income.—Income for the period ending June 30
1913 shows that sub¬
previous records
stantial growth in the volume of business was realized, all
having been exceeded.
Values of all products were also well sustained,
Southern Foundry pig iron excepted, tne last-named product having con¬
tinuously declined since the period of the last report, present values being
now at the minimum and at or below general cost of production.
Earnings for the period ending June 30 1913 reflect the anticipated im¬
provement in business and operating conditions, the aggregated amount
applicable to dividends being $1,972,421.
Net profits, it is estimated, were
decreased by approximately $400,000, due to direct and consequential
losses suffered from the Ohio district floods.
placed in opera¬
tion during the past two months.
The balance of the construction work
under way has been somewhat delayed by the unprecedented Ohio floods.
Construction.—Two of the
new
Merchant bar mills were
It is expected, however, that the extension to the open-hearth steel works
will be ready for operation by Sept. 1, the 20-inch jobbing mill Oct. 1 and
the 10-inch continuous mill May 1 1914.
No benefits of consequence can
be expected from the by-product coke works, in process of construction,
prior to May 1 1914.
Important additions during the past six months have been made to the
Iron ore reserves without increasing capital account.
Financial.—Outstanding notes of $1,000,000, issued on account of new
construction, were retired, and the net balance of quick assets as of this date
is $13,072,052.
No important financing is contemplated, working capital
balance being amply sufficient for present requirements.
Unfilled Orders.—These compare favorably with the record period
Dec. 31 1912, and show a substantial increase as compared with the same
period for preceding year, definite contract amounts only being considered.
New business for the past three months has been most inactive.
Speci¬
fications against contracts, however, have been normal and deliveries
urgent, thus indicating an absence of speculative buying and that stocks
,
,
continually growing demand, and certain parts, notably St. Paid
pai
undeveloped as to electric consumption.
Served by Consumers' Power Co. Dec. 31 1912.
Artificial gas (using gas ranges, 7,970, and hot-plates and water
heaters, 3,487, &c.)
9,414
supplies
a
and its environs, arelargely
Total of 48,368 Consumers
consumers:
A connected load equlv. to 16 c. p. lamps,
836,332; city and village arc lamps, 2,699, and motors, about
5,672, representing 51,043 h. p
Steam-heat consumers, 585; telephone subscribers, 1,188
Electric
37,179
1,773
Total Rated Capacity
of Equipment in Generating Plants {Horse-Power).
22,691 Hydro-electric, water wheels._33,265
11,200
Reciprocating engines
14,i 25 Motor generator sets
Steam turbines
30,( 60 High-voltage transformers
78,550
Steam power—boilers
High-Tension Transmission Lines.—Owns 427 miles of high-tension trans¬
mission lines and
in
a
large
of St.
operates about 500 miles of local distributing lines; also
part of the business section of Minneapolis, and smaller portio
Paul,
a
modern and substantially new underground system.
Location of Water-Poioer Dcreloo.—33,265 h.p. Installed Generating Capacity.
Minneapolis, Minn
3,000 h. p. 'Riverdale, Wis__
1,000 h. p.
Faribault, Minn
175 h. p. Cannon Falls, Minn
1,500 h. p.
Red Lake Falls, Minn
Minn
390 h. p. Rapidan,
2,200 h. p.
Taylors Faljs, Minn
Somerset, Wis
1,000 h.
24,000 h. p.
Except for the water powers at
and Red Lake Falls,' all these
are thoroughly modern and substantial high-class water powers; that at
Taylors Falls being susceptible of mateiial increased development. Through
Faribault
236
THE
CHRONICLE
subsidiary companies also owns large undeveloped water powers on the
Mississippi, St. Croix and Red rivers, representing an investment by the
company or about $1,000,000, having great potential capacity and available
for development as business requires.
These water powers and large
acreages of necessary lands are owned by the company.
The Consumers' Power Company
has completed
arrangements
for
the acquirement of the entire output
of a water power now being
constructed at Coon Rapids, about 6 miles above Minneapolis on the
Mississippi River, which will very materially add to its immediate power
generating capacity, there being on hand a ready market for the entire
output of this Coon Rapids power, as well as at a convenient period of the
undeveloped powers above referred to.
It is purposed from time to time,
as the business warrants, to still further connect
up by transmission lines
the properties now owned and others which from time to time it may be
wise to acauire.
Number
of Consumers
Dec,
31,
Total,
48,366
in
39,510 in
1912,
1912.
1911.1
Electric consumers
37,179 29,7681 Steam-heat consumers.
Artificial gas consum's 9,414
8,0981 Telephone subscribers.
1911.
1911.
586
1,058
1912.
585
1,188
A large amount of construction work has been done, and of the consumers
2 months.
fained In the The immediate large construction have beenison for the full
year above mentioned only a part program
substantially
completed, and
ted,
we believe that the earnings from the business now connec¬
well as that conservatively expected to come on to our service in the
future, will make an additionally favorable showing as to its earnings.
as
near
CONSOLIDATED
'
NORTHERN
EARNINGS
STATES
OF
COMPANIES
CONSUMERS
AND
12 Mos.end.—Dec. 31 '12 Jan. 31 '13
Gross earnings$2,821,402 $3,020,564
Net earnings.$l,374,743 $1,489,414
Bond interest.
Non-oper.
Preferred div.
17,820
rev.
15,160
EMBRACED IN
COS.
POWER
12 Mos. end.—Dec.31 *12
Tot. net inc.$l,392,563 $1.504,574
Surp,
Jan. 31 *13
$931,030
Cr. 10,825
447,978
$869,147
CY.7,715
423,163
General int
earns.
$136,391
$107,968
In the foregoing statements the gross and net earnings and charges of the
Minneapolis Gen. Elec. Co.
are
included only from June 1 1912, that being
the date at which this property was acquired by the
Consumers' Power Co.
Construction of
new
a
Mississippi River bridge at Mem¬
phis, Tenn., is to be begun
soon.
bridge is to be built and used jointly by the O. R. I. & P., Missouri
Pacific and St. Louis Southwestern railways, and is to be named the J. T.
Harahan Bridge, after the late President of the Illinois Central
RR., who
before his death projected a bridge at that place to supplement the famous
Memphis Bridge built about 20 years ago by the late George S. Morison.
—V. 97, p. 116.
The
Commonwealth
Power,
Ry.
&
Light Co.—2nd Com.
Div.—A second dividend of 1% has been declared
$15,500,000
the
on
stock, along with the regular quarterly
payment of 13^% on the $16,000,000 6% cumulative pref.
stock, both payable Aug. 1 to holders of record July 19.
common
An initial dividend of 1% was paid on the common stock
(then $12,000,000) on May 1, the pref. stock having also been increased from $6,000,000,
plan V. 96, p. 1296.—V. 96, p. 1556.
per
Cuba
Company New York.—Pref Stock—Operations, &c.
owner of sugar mills and plantations in
Cuba, as well as of the entire $10,000,000 com. stock of the
Cuba RR. Co., filed at Trenton, N. J., on July 15 a certifi¬
cate increasing its authorized share capital from
$8,000,000
to $16,000,000, as voted by the shareholders
July 9, by the
addition of $8,000,000 7% cum. pref., the
present issue
thereof to be $2,500,000.
—This
.
company,
Digest of Statement by Pres. W. C. Van Home, N. Y., June 3 1913.
The
$8,000,000 of 7%
pref. stock will be divided into 80,000 shares
semi-annually, and without voting power ex¬
cum.
of $100 each, with dividends
cept that during any period of default in payment of dividend, such stock
shall share voting rights with the com. stock, $ for $.
Redeemable after
3 years on 6 months' notice, and on liquidation, at
115%.
No mortgage
to be placed upon the property without the consent of two-thirds
interest
pref.
Dividends, 7% yearly, and no more, out of the surplus or net
profits, without deduction of any income tax or similar tax.
under the
of the
CONSUMERS POWER CO. CONSOL. BAL. SHEET DEC. 31 1912.
(Inter Company accounts and subsidiaries' securities held eliminated).
Plant and franchises
$25 ,143,874 Bonds & coup, notes outa$22,765,000
Discount on securities
591,802 Stock of Consumers Pow.
Construction accounts..
Co. held by Northern
5 ,595,399
Securities owned.
States Pow. Co.), see
5 ,724,260
Treasury
bonds
Materials and supplies.
Taxes, &c., paid in adv..
above
454,000
330,327
39,727
*•
Cash
Notes
receivable.;
Accounts receivable
Bond int. due in January
Accounts
472,333
23,106
999,485
42,495
_
1913
General interest, &c
Dividend accrued (paid
.
Sinking fund
Notes
payable
payable...
Bond int., payable Jan.
Jan.
(Minneap.
General Electric Co.).
13Q
Current suspense account
Expense accounts under
amortization
14,111,700
420,028
339,519
101,855
15 1913)
Consumers' deposits
408
138,017
.
<18,886
123,521
Bond interest accrued
Taxes
187,692
54,578
accrued.
'
Reserves—Depreciation
Bad
do
_
debts..*
Surplus
....
189,350
344,435
93,455
1,107.597
t These include:
Consumers Power Co: 5s (V. 96, p. 288), $6,817,000;
Union Light, Heat & Power Co. 5s (V. 76, p. 1196), $485,000;
Northern
Heating & Elec. Co. 5s, $800,000;
Red River Power Co. 5s (V. 91, p. 468),
$300,000; Grand Forks Gas & Elec. Lt. Co. 5s (V. 81, p. 1553), $311,000;
Mankato Gas & Elec. Lt. Co. 5s (V. 72, p. 1500), $50,000; do 1st 5s, $200,000; Minot Lt. & Telep. Co. gen. 6s, $45,000, and 1st 6s, $50,000; Inter¬
state Lt. & Pow. Co. (Del.) 6s (V. 91, p. 1632), $624,000; Fargo & Moorehead St. Ry. 1st. 5s, $200,000, and 2d 6s, $100,000;
1st 5s (V.
(V. 94,
p.
Minn. Gen. Elec. Co.
95, p. 180), $7,783,000; Northern States Power Co. 6% notes
1701; V. 95, p. 180), $5,000,000.—V. 97,
GENERAL
RAILROADS,
Atlantic
INVESTMENT
INCLUDING
Northern
Roo Webber,
p.
&
183.
ELECTRIC ROADS.
Southern
Ry.—Operation.—De
representing Abels & Taussig of St. Louis, Mo.,
the successful bidder for the south end of the road from At¬
lantic to Villisca, stated on July 21 that if the-Court gives
them a deed at the hearing to be held on Aug.. 9, they will
begin operating the road
on Aug. 11.
v
,
It is planned to make two round trips daily and one round trip on Sun¬
days.
George W
Coffin of St. Louis will be manager of the road.—
y. 96. p. 1771.
J.
.
Brinson Ry.—Pres. Brinson Sells Interest.—A New York
syndicate, headed by James Imbrie, it is announced at Sa¬
vannah, has purchased the holdings of George M. Brinson,
thus ending the friction that has existed for some time
.
•
A meeting of the
directors will, it is stated, be held next week, at which
Mr. Brinson will tender his resignation and seyer his connection with the
road.—V. 97, p. 174.
-
Canadian
Co.
&
Northern
Ry.—Notes
Sold.—Wm. A.
Bankers'
Description
of Loan.
Co., N. Y.
Par $1,000 and multiples.
Int. J.-& J. 15.
A direct Obligation of the company, secured by pledge of an aggregate of
about $5,000,000 Canadian Northern Ontario Ry. and Canadian Northern
Alberta Ry. 3%% 50-year sterling debenture stock, issued under separate
mortgages, and unconditionally guaranteed as to prin. and int. by the Do¬
minion of Canada.
The debenture stock, quoted in London at about
87-89, is thus pledged at 70.
&c.—Sir
Donald Mann
says:
f "The
Government subsidy of $15,000,000 will be used to complete the
terminals of the western end of the railway.
It will involve the usual
work of tracks, traffic sheds and ferry slips.
At Steveton
and I will get matters going there as soon as I
through at New Westminster.
If an immediate start is made, we can,
by pushing the work vigorously, have the terminals complete and in
operation next summer about mid-season.
This will be the coping-stone
in the C. N. R. system for a through service from coast to coast by the
am
of
1914."
Regarding Sir William Mackenzie's departure for
"Sir William
was
never
foolishnesss;
to come."
simply went to England
for sale and
we
have
is not
never
now.
on general
This
England, he says;
The C. N. R.
business.
talk of Government control
discussed the matter, nor will
Compare V. 96,
p.
we
is
for sometime
1838, 1627.
Chicago Rock Island & Pacific Ry.—-Extension.—The
company on July 1 put in operation for local business the
line between Carlyle, la., and Allerton, 65
miles, forming
part of the St. Paul and Kansas City Short Line between
Allerton and Des Moines.
The road will be opened for
through business about Oct. 1.
700,000
600,000
-
To provide
To provide
additional working capital
for the ultimate retirement of the outstanding 6% debentures.
$4,000,000
To hold in the treasury for future requirements
1,500,000
•
Aside from the profitable results to be expected from the
doubling of the
Jobabo plant as indicated by the results of the increased
capacity of Jatibonico, the recent large plantings of cane by private parties along the Cuba
RR. in districts wholly dependent upon your mills for its
grinding have
the immediate enlargement of the plant an urgent
necessity, as
otherwise the results to the many planters might be disastrous.
While two
made
Independent sugar mills
are
being built to
serve
the districts referred to,
The
neither is likely to be ready in time to grind the standing private cane.
of doubling this mill (including the planting of additional
cost
cane) is
as compared with the original installation because the
buildings, &c.,
provided in tne first place.
The working of your mills at Jatibonico and Jobabo during the
grinding
season just
now ended has been remarkably successful—about 400,000
bags, or 57,000 tons, of raw sugar having boon produced, being one-third
more than the calculated capacity.
The prices for sugar have, however,
been extremely low, and recently the markets have been paralyzed by the
small
were
Eending tariff changes in the European parity. at presentmade itmore than
alf
cent
pound below the U. S.—the prices This has being
advisable
a
to
a
carry, over
nearly one-half the total product of
your
„
mills until these
experience has shown the need of more working capital, and consider¬
able working capital is always required for the dead season of about 7 mos.,
when, during the cultivation of cane, it has been necessary to resort to the
banks for large loans.
It is most important that we should not be depend¬
ent upon the banks.
Moreover, the company is now well established and
your directors consider that its finances should bo put on a basis providing
for the greatest economy and the most healthy development, and
also
making the surplus earnings available for dividends.
The sale, at prices which may reasonably be expected, of the sugar
and
molasses now stored in Cuba, Will leave the company practically free from
floating debt, except tbe $1,209,000 of Jobabo notes; so that the proceeds
of the pref. stock should all bo available for the purposes hereinbefore men¬
tioned, which include the payment of these notes.
•
The development of the sugar industries of your company has very largely
increased the earnings and profits of the Cuba RR. Co. (see V. 95, p. 175,
615, 1541), the whole of whose qominon stock—$10,000,000—is in your
treasury, and upon which a dividend of 4% (equal to 5% on your praseut
$8,000,000 stock) has recently been paid,
The rapid growth of the gross
earnings and profits of the railway justify the expectation that its dividends
will be continued and largely increased.
Its surplus for the current year, •
after paying the full pref. dividend, will be eqhal to about 7H% on its com¬
mon stock, as compared with 4% for the year before.
The amount Qf pref. stock now proposed to be sold is $2,500,000. and each
holder of one $50,000 share of Cuba Co. stock of record June 9 1913 is en-'"
titled to subscribe at par for 156% shares of $100 each of the pref. stock
on or before July 12 1913, payable in installments.
[The Cuba Co. was incorporated in N. J. on April 25 1900 with $8,000,000
authorized stock in shares of $50,000 each (V. 70, p. 841).
No dividends
as yet.
The $4,000,000 6% debentures are dated Jan. .1 1906 and due
Jan, 1 1955, but red. on any int. day at par.
Par $1,000 gold.
Int; J.&J.
Trustee. N. Y. Trust Co.
N. Y. office. 52 Williahi St. —V. 75, p. 1253.
,
.
Dayton & Union RR.—New President.—Joseph Woods,
Vice-President
of
the
elected President.—V.
Pennsylvania
p. 1347.
Company,
has
been
89,
Lackawanna
&
Western
RR—Reparation
on July 9
in a supplemental decision ordered the company to makereparation in the sum of $31,175 90 to the Marian Coal Co.
because of unreasonable rates charged the complainant for
the transportation of anthracite from Taylor, Pa., to Hoboken, N. J., and New York lighterage station.
Ordered.—The Inter-State Commerce Commission
On June 8
1912 the Commission ordered a
reduction of rates between
Taylor and the New York market, to take effect on Aug. 15 last, but de¬
regard to tbe petition for reparation amounting to $55,238
pending further investigation.—V. 96, p. 1628.
ferred action in
construction
these must also be built,
end
consent
To pay the 6% 3-year notes issued in 1911 for the Jobabo
Sugar
mills and plantations
;
$1,200,000
To complete the doubling of the Jobabo plant
Delaware
Dated July 15 1913, due July 15 1914, but red. 6 mos. after date at 101
day's notice.
Prin. and int. payable in N. Y. and in London
at Canadian Bank of Commerce at $4 8667 to £.
Trustee, Guaranty Trust
and int, on 30
Construction,
further increase in the pref. stock can be made without the
com. and pref. stocks.
Purposes of $8,000,000 Preferred Slock Issue.
Read
that the
$3,5Q0,000 one-year 6% coupon
(collateral) notes offered by them have all been sold;
announce
no
tariff questions are settled—possibly until August or September.
This
NEWS.
between the two interests.
law
of two-thirds of both
Denver
&
Northwestern
(Electric)
Ry.—Exchange of
Bonds.—Holders of the $6,000,000 first and collateral mtge.
30-year 5s will shortly, it is understood, be offered the privi¬
lege of exchanging each of their $1,000 bonds for a $1,000
First & Refunding sinking fund mortgage 25-year 5% gold
bond of the Denver City Tramway Co., dated Nov. 1 1908,
due Nov. 1 1933, and in addition thereto $50 in non-interest-
bearing scrip, exchangeable in amounts of $500 for said bonds
of 1908.
Compare V. 96, p. 1628.
■v
Denver
&
Rio
^ President Bush says:
Grande
RR.—Construction
"Construction work on the Soldiers' Summit de¬
track of Denver & Rio Grande is progressing in a post satisfactory
manner.
The new line will be ready for operation not laterthan Oct. 1
1913.
It will mean muph in saving of time and expense.
We are going
ahead with, other improvements planned as fast as we can, Including the
double-tracking of the main line from Salt Lake to] Denver. —V. 97, p. 175.
tour
The company
Dry Dock East Broadway & Battery Ry., New York.—
Receiver'8 Cert's.—Judge Lacombe in the U. S. Dist. Court on
authorized Receiver Whitridge to issue $179,000
receiver's certificates, to be known as series "B," and to
interest.
bear 4%
This sum was
and was
chiefly
expended In the Improvement of the track and equipment,
furnished by the Third Avenue Ry.—V. 97, p. 116.
increase of capital
96, p. 417.
Receivership.—The
(N. C.) Traction Co.—tteceiversnip.U. S. District Court recently appointed Robert W. Winston
Jr. as receiver.
The company has 3 H miles of track, which was operated by E. T. Oliver,
but which, it is said, has not been used for 3 months.
The property, it is
reported, was recently sold to the Goldsboro Seven Springs & Swansboro
RR.
It is alleged that the cost of electric power purchased from another
company was too great to permit profit.
Goldsboro
Sany has Trustits general
Itge. & filed Co. of N.
Ry.—Mortgage Filed.—The com-
Illinois
Collins of
Court of
Yazoo &
RR.—Approved.—The N. J. Public Utilities Com¬
missioners have approved the issuance of $137,500 stock and
$137,500 bonds and also the making of a mortgage limited
to $250,000 to the Safe Deposit & Trust Co. of Pittsburgh, as
trustee, to secure the bonds.
:
New York New Haven & Hartford RR.—New President.
—Howard Elliott (now President of Northern Pacific Ry.)
was yesterday elected President, effective Sept. 1, to succeed
Charles S. Mellen.
Mr. Elliott was also elected a director.
The shareholders, it is stated, will vote at the annual meeting in October
to change tho by-laws so that Mr. Elliott may be made Chairman of the
Board of the company and each of its subsidiaries, separate presidents to
be chosen for the several properties who will be subordinate as
operating
Compare
due Sept. 1 1962.
Morris
heads to the
authorizing
RR.—Ouster
Central from the State.
the Illinois
/
*
charter and franchise of the
Yazoo company, a receivership of both companies and an absolute separa¬
tion of the same and the sale by the Illinois Central of all stocks and bonds
of th ; Yazoo road held by the Illinois Central.
Penalties of $5,000 a day
The bill also
demands the forfeiture of the
and(b)on increasing the capital stock by issuing 675,524 addi¬
tional shares of $100 each when and as necessary for conver¬
sion of said debentures into capital stock according to their
terms.
ties between
was
settled
If this
Thus the
ports."—V. 96, p. 1701.
Kanawha & Michigan RR.—New Directors.—William
C. Williard, Pres. of the Hayden-Clinton Nat. Bank, andE. C. Fuller, Columbus, 0., a director of the United States
Cast Iron Pipe & Foundry Co., have been elected directors
to succeed F. W. Prentiss and S. C. Reynolds, both deceased.
—V. 96, p. 1772.
'
."v, •
"
.
Terminal Co., Lexington, Ky.
railway employees in
ended on July 16, the
union on the open-
oonipany having agreed to recognize the
shop plan and to reinstate strikers.
•
Dept."—V. 95, p. 1472.
Manila Ry.—Meeting Postponed.—The meeting of the
holders of the "A" and "B" debenture stocks, which was
oonvened in London on July 23 to ratify the issue of addi¬
tional securities, will re-convene on Aug. 13. See V. 97, p. 50.
Annual
Earnings.—See "Earnings
Listed in
The London
London.—
Stock Exchange
„
has listed
£600,000 of 5% debenture
stock,
See V. 96, p. 487; V. 97, p. 50.
Memphis Dallas & .Gulf RR.—Mortgage.—A mortgage
was filed at Arkadelphia, Ark., on July 18 to the Mississippi
jn
lieu of the scrip.
issue
Valley Trust Co. of St. Louis, as trustee, to secure an
of $3,600,000 bonds.
'
„
.
. .
The proceeds, it is said, will be used to extend the road from a point near
Murfreesboro, Ark., to a connection east of
Delark with the Malvern
Camden branch of the Chicago Rock Island & Pacific Ry.
A mortgage
to secure an issue of $6,260,000 30-year 5s was authorized in May 1910,
but at last accounts none of the bonds had been issued.
'
The company recently ordered 8,000 tons of steel rails from the Ten¬
nessee Coal. Iron & RR. Co.—V. 91, p. 154.
"
Middlesex & Boston Street Ry.—Earnings.—•
Gross
Net (after
Interest
DiviEarnings.
Taxes.
Paid.
Year—
ton Street
—
Ry. Co.
$1,987,000.—V. 94, p. 1317.
Ry.—Amendment Filed.—The
Attorney-General of Texas on July 10 filed an amendment
in the District Court at Austin to the original suit brought
against the company and its controlled companies on account
of alleged violation of the State anti-trust laws (V. 96, p. 1298).
PS The companies named as defendants include the M. K. & T. Ry. of Kan.
(parent company), M. K. & T. Ry. of Texas, Dallas Cleburne & South¬
western, Denison Bonbam & New Orleans, Texas Central and Beaumont &
Great Northern.
The 5 companies first named, it is stated, violated the
trust statute for about 1,130 days, the Beaumont & Great Northern for
Missouri Kansas & Texas
about 304 days
and other defendants
for about 659 days
by higher
rates and
requiring
-—*—ir~"
service
icers to
each. The pen-
Violation of the State law
in other, instances.
, luiamuu
,uc
reside in the city in which the general offices
been made up
wer
of the respective
are located is also alleged.—-V. 97, p. 1702.
Monongahela RE
.—Proposed Bond/ssue—Refemng to
e rumor that the company is about to makea $16,uuu,<JUO
md issue to take over the Buckhannon & Northern RR.,
npanies
l
official writes:
convertible debenture certificates
convertible
Jan. 1 1911 and Jan. 1 1916 will have the right to sub¬
convertible debentures to be issued at the rate of $100 of the
principal amount of such new debentures for each $450 of the
principal
of the >3>3% convertible debenture certificates held by them,
respectively: and the holders of outstanding 6% convertible debentures
convertible into stock at any time after Jan. 15 1923, and not later than
Jan. 15 1948, will have the right to subscribe to the convertible debentures
to be issued at the rate of $l00 of the principal amount of such debentures
for each $300 of the principal amount of such 6% convertible debentures held
amount
respectively.
of this issue of convertible debentures are to be applied in the
the funding of all the outstanding floating indebtedness of
the company, amounting to about $40,000,000 of one-year notes due in
Dec, 1913 and
to the refunding of $5,000,000 non-convertible debentures
due in Feb. 1914.
The remainder of the proceeds it is intended to apply in
payment for additions and betterments of the property of the company and
its subsidiaries, of which the principal items are the electrification of the
railroad between Stamford ana New Haven, the electrification of the Har¬
lem River Branch for freight service, the elimination of grade crossings,
the improvement of the Air Line Branch between Middletown and Willimantie, improved signal systems on various parts of the railroad, doubletracking, new bridges, new shops, improvement of freight yards and a
by
them
The proceeds
first instance to
large
amount
of new steel
passenger-train cars and new
locomotives.
Electrification.—The work of electrifying the road between
New Haven and Stamford is making rapid progress, and it is
expected that before long electric-train service will he begun
between New York and New Haven, giving the company a
greater total of railroad mileage operated with electricity
than any other steam road possesses.—V. 97, p. 176, 117.
Oakland Antioch & Eastern
Ry.—Bonds Offered.—The
offer to stockholders the right to
subscribe at 85 for sufficient of the $1,000,000 bonds recently
authorized by the RR. Commission to realize $500,000.
Subscriptions, it was reported late last week, had already been received
for over $200,000 of the bonds.
If the required amount is not obtained in
this manner, it is proposed to levy an assessment on the stock.—V. 97,
p. 176, 118.
/
V
directors have decided to
RR.—Decision.—District Judge Van Fleet
July 18 holding that creditors who
supplied locomotives, rails and operating materials to the
Ocean Shore
decided the test case on
bond¬
predecessor Railway company.should be paid before
holders and stockholders.
The Baldwin Locomotive Works was awarded Judgment for a balance of
$5,000. ' Other claims totaling $48,571 must be paid within 30 days or
the property will be ordered sold for not less than $100,00).
Receiver
Stratton
Bat.,
ir/j
1912-13
......$941,235 $243,269 $163,343
(4%)$79,480 $446
1911-12
741,363
212,885' 131,786 (5^) 80,410
689
On July 1 1912 the Lexington & Boston Street Ry. Co. was consolidated
tfith the Middlesex & Boston Street Ry. Co., Increasing the capital stock
$525,000, making total capital stock of the consolidated Middlesex & Bos¬
June 30.
—
holders of the 3>£ %
scribe for the
Transit Co.—The company has
Ends.—The strike of street
Lexington, which began on July 11,
New Haven July 22.
will offer to stockholders the right to
into stock between
applied to the N. Y. Stock Exchange to list $37,027,000
first and refunding 5% gold bonds.
See also "Annual Re¬
—Strike
plan is ratified, the company
convertible debentures at the rate of $100 of principal for
every three shares of stock held by them respectively, and will offer to the
holders of the company's now outstanding convertible debentures a right
of subscription to be issued at the same rate as' if the
holders of the stock to the future delivery of which they are entitled.
1228.
Kentucky Traction &
■
•
Signed by Sec. A. E. Clark
subscribe for the
Mississippi."
is quoted as saying: "There have been no difficul¬
the roads and the State authorities.
The legality of the merger
in the Mississippi courts in a tax suit several years ago."
Interborough Rapid
• ■ :
Digest of Circular
President Markham
—V. 96, p.
will vote Aug. 22 (1) on
issue of $67,552,400 6 % 20-year debentures
(interest payable semi-annually), "convertible into shares of
company's capital stock at any time after five years
from their date until, but hot later than, 15 years from their
date at the rate of one share of such stock (par $100) for
each $100 of the principal amount of such debentures,"
$50,000,000, are demanded for alleged violation
of the law forbidding consolidation of parallel and competing lines of road.
Attorney-General Collins in a statement says:
"The bill alleges that
the Illinois Central controls, operates and dominates the Yazoo & Missis¬
sippi Valley; that it owns the capital stock of said road; that they are com¬
petitors engaged in the same kind of business; that the combination is work¬
ing to the detriment of New Orleans, Memphis and all points on both lines
of said roads between such points and is operating to the great injury of
the State of
an
this
aggregate of about
or an
Chairman or the Board.
Debentures.—The shareholders
Suit.—Attorney-Genera
Mississippi on July 22 filed a suit in the Chancery
Coahoma County against the company and the
Mississippi Valley RR. demanding the ouster of
Central
'
RR., do not.
consolidated mortgage toan issue S.
Y., as trustee, to secure the U. of
$30,000,000 50-year 4% bonds
V. 96, p. 175; V. 93, p. 1323.
to have been
practically reached for the taking over of the B. & N.
The B. & N. Is
jointly by the Pennsylvania RR., the Pittsburgh <fe Lake Erie and
the Baltimore & Ohio.
The West Virginia law is to the effect that compet¬
ing companies cannot jointly hold stock in another company.
The Balti¬
more & Ohio operates a line in West Virginia that would be a competing
line.
The Pennsylvania and the Lake Erie, which own the Monongahela
owned
Louis & Suburban Ry.—Sub-Company Increases
Stock.—The subsidiary East St. Louis & Suburban Ry. on
Grand Trunk Western
issuing any bonds, but Is
needed In the
East St.
May 22 filed in Belleville a certificate of
stock from $3,850,000 to $4,100,000.—V.
does not contemplate at present
merely getting into position where it can issue them when
future for extensions, &c.
The following has been published:
"Terms are understood
19
July
237
CHRONICLE
THE
1913.]
July 26
opposed the granting of any preferred
Court.—V. 96, p. 1229.
claims, but was not sus¬
tained by the
-Earnings, &c.—H. M.
:
Ottumwa (la.) Ry. & Light Co.
Byllesby & Co. report as follows:
June
Net
(less taxes)
__
Balance, surplus
Outstanding capitalization
Ozark &
1912-13.
138,312
June 30
Cherokee Central
sent out by A.
property and^its
$39,823 $36,969
Ry.-
-Reports of Experts.-
Co. to examine the
in substance:
B. Leach &
prospects report
Digest of Report
1911-12.
$66,053
29,745
Common stock, $650,000;
July 1909), $449,900; Ottumwa
$8,000 yearly), $302,000; 1st &
$1,036,000 (V. 82, p. 1213.)—
1913:
pref. 7% stock (divs. paid quarterly since
Trac. & Lt. 5s, 1921 (sinking fund retires
ref. 5% bonds, 1924 (1% sinking fund),
V. 89, p. 994.
The experts
30 Year—
1912-13. 1911-12.
Interest______
$66,996
$310,205 $293,647
Pref. dividends..31,493
June 30 Year—
Gross
by Emerson
W. Judd, New York,
June 30 1913.
connecting Fayetteville, Ark., with Okmulgee,
integral part of the St. Louis & San Francisco
System, its separate earnings are unknown.
The receivers, however, ex¬
pect to be called upon for their recommendation with respect to the reten¬
tion of the property or its surrender to the trustee under the mortgage, and,
accordingly, are having the earnings for a considerable period computed
as if it were an independent road, enjoying the customary
divisions of
revenue on joint traffic. This work.it is expected, will soon be completed.
fl,
The railway, which Is not in the best physical condition and has no
adequate rolling stock, serves, in greater or lesser degree, a territory about
three-fourths the area of Connecticut.
Outward-bound tonnage, origin¬
ating on the line east of Muskogee, consists almost exclusively of products
of agriculture and of forests.
At Muskogee and west from that city to
Okmulgee these are supplemented by brick, tiles, &c., and particularly
rried in competition with pipe lines.
Washington
petroleum, which is car
The line is 144
Okla.
miles long,
Being operated as an
238
CHRONICLE
THE
County, Ark., 19 said to have 2,000,000 bearing apple trees, and several
hundred car-loads of apples are forwarded North annually.
Early straw¬
berries and peaches are also shipped, under refrigeration.
Cotton is raised
[Vol.
xcvxi.
Railways Company General, N. Y. City.—Stk. Reduced.
The
capital stock has been reduced from $500,000 to $400,000 (as au¬
by stockholders July 15), by retiring shares owned by tnecor¬
Oklahoma;
the shipments in the 9 mos. to May 31 1913
poration and the purchase at not above par of shares for retirement.
.Pre¬
^amounted to some 17,500 bales, the entire amount going to Galveston.
vious reductions: Sept. 1905, $1,500,000 to
There is a large movement of potatoes from the Arkansas bottoms west of
$900,000; Sept. 1906 to$700,000; Dec. 1908 to $500,000—V. 97, p. 50.
Fort Gibson, but the traffic of the railway in products of the soil is limited.:
In Oklahoma only 20% to 40% of the land area of Adair and Cherokee
St. Louis Rocky Mountain & Pacific Co —First
Com¬
counties is in farms, and in Okmulgee and Muskogee countias not more
mon Dividend.—An initial dividend of
than 60% to 80%.
Forest products are shipped from most of the stations
34 of 1% was paid
east of the Arkansas Valley,Tout chiefly railroad ties and wagon implement
July 16 on the $10,000,000 common stock.
Payments of
stuff.
Manufactures consist mainly of inbound supplies for consumption.
134% each were made on the $1,000,000 5 % non-cumulative
Passenger earnings are relatively good; minimum rate, 3 cts. per passenger
per mile. One passenger train operates daily in each direction over the en¬
pref. stock on Aug. 31 and Dec. 31 1912 and April 5 .and
tire line; two each way between Muskogee and Okmulgee and one between
June 30 1913.—V. 95, p. 1474. '
V
f
Westville and Muskogee.
Population of ten leading stations: Fayetteville
(in 1910), 4,471; Prairie Grove, 775; Westville, 800: Tahlequah, 2,900;
St. Louis & San Francisco
RR.—Report of Experts —
.Hulbert, 450; Fort Gibson, 1,350; Muskogee (in 1910), 25,000, now per¬
See heading Ozark & Cherokee Cent.
Ry. above and compare V.97,p.l76.
haps 30,006—the second city of Oklahoma in size, handsomely situated, fine
business and public buildings, ten banks; Boynton, 680; Morris (in 1910),
Time Extended— Speyer & Co. announced
Tuesday that
390, now estimated 800; Okmulgee (in 1910), 4,175, now 8,000 estimated.
the time for the deposit of the
general lien 5% bonds with
Beyond much question, the road is more valuable to the'Frisco than it
the Bankers Trust Co. under the
would be to any other connecting line.
If the 'Frisco gives it up, the
agreement of May 28 had
Kansas City Southern, the Missouri Pacific and the Missouri Kansas &
been extended up to and
including Aug. 16.
Texas stand ready to make the usual joint traffic arrangements and would
Bondholders are urged to deposit bonds without
be possible purchasers.
delay.
The certificates
The Kansas City Southern in particular could
of deposit have been posted on the
Stock Exchange and about $26,000,000
handle the Ozark & Cherokee Central's business to advantage.
of the bonds have been deposited under
the agreement.
In conclusion it may be stated that Eastern Oklahoma is undoubtedly
James Speyer was to leave the end of this week
for St. Louis for a confer¬
at the beginning of an era of great development.
The next ten years
ence with
the receivers.
should be a period of rapid growth in population and industries.
on
thorized
the road in
.
N. 0.
Digest of Report by J. H. Thompson, New York, June 261913.
1902, 144 miles, with sidings and spurs,
18 miles; for
originally graded, but no track
laid, although, presumably, the right-of-way was secured.
Road probably never maintained in very good condition and is certainly
not in good condition now.
Right-of-way 100 ft. wide.
About 33%
fenced.
Roadbed, as originally constructed, very narrow.
Cuts probably
il6 ft., now nearly filled to ends of ties in many places.
Fills also need
attention.
There are 135 bridges, total length 12,777 ft.; 1,378 ft. of rather
light steel construction amd 11,339 frame trestle, apparently in safe condi¬
tion.
The steel bridges will be safe for 5 or 6 years with the present traffic.
The Arkansas River bridge is a through bridge of seven 154-ft. spans,
total length 1,078 ft., built in 1902.
Piers and abutments concrete.
Track
Bridge floored its entire width and used
as
a
public highway bridge,
for
prior $100,000 first mortgage bonds.
Road very crooked between Fayetteville and
Muskogee; maximum curves
Undulating throughout its length;
maximum grades
1%,
which, on 8-degree curves, are equivalent to 1.4% on tangent.
Very
little ballast.
Originally laid with green white oak ties.
About 100,000
renewed prior to 1909; 1909-12, incl., 192,500, of which 129,000 creosoted
red and black oak;
79,000 ordered for 1913, of which about 24,000 put in
to date, 10,000 on hand, and more are being delivered;
160,000 should be
renewed during next two years.
There are 20,000 tie-plates on sharpest
curves; many more required.
Originally laid with 60-lb. steel rails, which,
with present traffic, should be good for next 10 years with some renewals,
principally on the curves.
Track very rough throughout and grass-grown.
Buildings valued at about $84,000, viz.: 17 passenger stations, 15 frame,
1 brick at Tahlequah and 1 stone at Muskogee, and 2 frame freight depots.
(At Fayetteville and Okmulgee there are commodious brick passenger sta¬
tions on the St. Louis & San Francisco main line.)
Six water stations,
water excellent;
70-ft. steel turntable at Westville.
Telegraph line is in
good condition.
No block-signal system. * Crossings protected by gates.
Compare V. 97, p. L76.
*
8
degrees.
.
.
Pacific Gas & Electric
The company
See V. 97, p.
Co., San Francisco.—Notes.—
recently sold $4,500,000 one-year 6% notes.
118, 176.
vr -7
.'-7
■
Pennsylvania
See West
RR.—Lease
Not
Approved.—
Jersey & Seashore RR. below.—V: 97,
p.
176, 118.
Philadelphia Rapid Transit Co.—Report—Car Trusts.—
See "Annual
Reports"
on a
preceding
page.
Mitten
co-operative plan with the
motormen
and
conductors
as
individuals will be continued for another year, less than one-third of the
having voted in favor of substituting a contract with organized labor,
men
—V.
96, p.
1773,
1490.
Public Service Corporation of New Jersey.—-Decision.
—The New Jersey Supreme Court on July 7 sustained the
validity of
an
90-cent gas
a
order of the P. U. Commissioners establishing
rate in the Passaic district.
Compare V. 96,
136, 952.—V. 96,
p,
p.
941, 951.
to pay off the interest.
However, it is said that the receivers feel there is
something radically wrong with the road when it fails to earn its Interest
charges, considering the fact that its gross is in excess of $5,000 a mile
Last year the road failed to
besides.
San
The Texas State RR. has authorized the company to issue
$500,000 addi¬
on its 45-mile extension from Paducah to
Roaring
tional bonds
issued
on
the extension.
Springs,
Compare
section) gold
already authorized from £50,000 sterling to £100,000
sterling.—V. 95, p. 1608.
>7,
bonds
,
-
Quebec Railway, Light, Heat & Power Co .—Statement
hy Pres. Forget.—The "Financial Post" of Toronto on
July 19 quoted President Sir Rodolphe Forget:
The railway has been doing finely, and for the fiscal
year ending June 30
the gross earnings were 18 to 20% larger than last year.
Operating expen¬
have been well within bounds, and the company will make a
ses
■
splendid
'
<
In
regard to the many rumors of sale of subsidiary lines, Sir
Rodolphe
said these were absolutely false.
"There is absolutely nothing in all these
reorganization rumors.
The company is in a good position, as will be seen
by the statement when issued.
The bond interest, about which there has
been so much talk, has been paid, and the company is
going right ahead.
The matter of the French Government tax should not give
any one any
very great concern.
control is over here.
V. 97, p.
Less than 20% of the shares are held abroad, and the
Anyway, we don't want to trade over there."—
118.
Rapid Transit in N. Y. City.—Contracts, &c.—
S. Commission on July 15 awarded the contract for
the section
Broadway (Manhattan) Subway immediately south of 14th St. to
for $2,578,000, and on July 24 of the
section from
Union Square to 26th St. to the E. E. Smith
Contracting Co. for $2,056,702.
The P.
of the
Dock Contractor Co.
Both
were
earn its $672,000 interest.and lost
$250,000
203; V. 97, p. 176, 118.
p.
Diego & Southeastern Ry.—Authorized.—The Cali¬
fornia
RR. Commission
issue $343,000 bonds.
has
authorized
the
company 'to
The company operates 73 miles of road
radiating from San Diego.
The
proceeds of the sale of the bonds are to be used to
purchase 2 locomotives,
60 flat cars, new passenger stations and make
improvements to the road.
—V.
94, p. 699.
Seaboard
Air
Line
Ry.—Equipment Trusts Sold.—The
has^ sold $1,900,000 5% equipment
company
trust
notes
maturing semi-annually during ten years to a syndicate con¬
sisting, of Eastman, Dillon & Co., the Equitable Trust Co.
and Kean, Taylor & Co.
The proceeds are to be used to
pay
cost of the new
for new locomotives.
equipment, 15% will be paid in cash.—(V.96,
Of the total
1425, 1157.
p.
.Tidewater Southern Ry.—Note Issue.—The "San Fran¬
cisco News Bureau" says that the
company recently applied
for authority to pledge $750,000
bonds, previously author¬
ized,
collateral for
as
note
a
issue.—V. 97, p. 177.
Toronto
Railway.—Purchase by City.-'—Mayor Hocken
Comptroller McCarthy on July 18 reached an agreement
with the Mackenzie interests,
controlling the Toronto Ry.
and Toronto Electric Light
Co., looking to the purchase by
Toronto of all the street railway and
electric-lighting prop¬
erties of the city.
The Toronto "Globe" on July 19 said:.
If
and
total price asked for the street
railway lines is $22,000,000.
the Toronto Street Ry., the Toronto
Suburban
the limits of Greater
Toronto
These include
Ry., the other radials within
and the Interurban Light & Power Co., which
operates in Ward 7 and portions of the Township of York.
The deal is conditional upon the
city buying the Toronto Electric Light
Co.'s franchise and plant for $8,000,000.
Thus for $30,000,000 the
municiaplity may acquire control of all the
public utilities within the limits of Greater Toronto except Consumers'Gas.
The city's experts, R. A. Ross of Montreal, Bion J. Arnold of
Chicago,
J. W. Moyes and Assessment Commissioner Forman of
Toronto, commence
immediately to determine the value of the properties involved.
[The City Council, it is thought, may act on the matter Sept. 20, making
possible a city election about Oct, 15.]—V. 96, p. 1774, 1365.
Underground Electric
est
on
Quebec Oriental Ry.—More Prior Lien Bonds.—The
holders of the 5% 1st M. (Metapedia section)
gold bonds
will vote in Montreal Aug. 13 on increasing the amount of
the issue of 5% prior lien mtge. (Metapedia
statement.
Compare V. 96,
'
Quanah Acme .& Pacific Ry.—Bonds Authorized.—
making a total of $800,000 bonds
V. 96, p. 1630; V. 95. p. 1274.
Default Thought Probable.—The
July 22 said:
the deal is ratified by the
City Council and the people, it is understood
the municipality will be required to
put up only $8,000,000 in cash.
The
Co-operative Plan Continued—Vote 4320, to 2028.—
The
on
It is reported in financial circles that the
receivers of the St. Louis &
San Francisco RR. may advise the default of
the semi-annual interest on
the New Orleans Texas & Mexico Division
1st M. bonds, amounting to pearly
$700,000.
The matter will be decided between now and
Aug. 15, and there
is a possibility of the receivers
asking for permission to issue certificates
rests on wooden floor beams which must be renewed within a year or two.
which toll is charged.
Also used temporarily by Muskogee Electric Trac¬
tion Co. for its Fort Gibson line.
Cost probably about the proceeds of the
Tex. & Mex. 1st M.
"New York Sun"
Road built in
about 7 miles beyond Okmulgee roadbed
the lowest bidders.
The Commission ordered that public hearings be held
Aug, 1
forms of contract for the Seventh Ave. Subway,
Manhattan, to be
on
the
operated
Rys. of London.—Full Inter¬
Incomes.—The directors have declared semi-annual int.
the income bonds for the half-year ended June 30
on
1913,
at the rate of
Sept. '10.
^ of 1%
6%
per ann.,
Afar. 11. Sept. '11.
K of'1%, H of 1%
1490. 1365.
"
being No. 2 at that
Mar. *12.
1%
—V. 96, p.
Sept. '12.
2%
rate.
See adv.
Afar.'13.
3%
Sept. '13.
3%
...
(The) Union Station Co., Chicago.—New Union Sta¬
tion—The company was incorporated on July 3 under the
laws of Illinois with $50,000,000 auth. stock to build the
proposed new union station in Chicago.
Of the auth. stock,
$25,000,000 will be owned by the Pitts. Cin. Chic. & St. L.
and $12,500,000 each by the Chic. Burl. &
Quincy RR. and
Chic. Milw. & St. Paul
Ry.
>
No further details of the securities to be issued have been decided
upon.
No officers have yet been elected, but the directors are:
Darius Miller,
A. J. Earling and John J. Mitchell of Chicago and
Joseph Wood and J. J.
Turner of Pittsburgh.
Loesch, Scofipld & Loesch of Chicago are the com¬
pany's counsel.
United
See
V.
"San
96, p.
Railroads of
Francisco"
in
San
"State
Francisco.—City Election.-^
and
City"
Department and
compare
1490.
Wabash
RR.—New
Receivers'
Certificates.—The U.
S.
District Court at St. Louis on Thursday authorized the re¬
ceivers to issue $14,000,000 new 6% receivers' certificates.to
retire the same amount of 5s maturing Aug. 1—V.
97,p.l78.
.Washington (D. C.) Utilities Co.—Denied.—The P. U.
Commission recently rejected the plan to issue new bonds
under the proposed new mortgage.
A newspaper states:
(including sections under Battery
Park and at a
point about 60 feet south of West 43d St., where a junction
will be made with the present subway north of Times
Square), and the New
Utrecht Ave. elevated line in Brooklyn, to be operated
by the New York
Municipal Ry. Corp. (Brooklyn Rapid Transit Co.), in connection with the
Fourth Ave. subway (beginning between 38th and
39th Sts. and extending
to a point near 19th Ave. and 86th
St., thence to Stilwell Ave. to a point
The Commission held that the .Washington Utilities Co. could
hold
$2,900,000 Washington Ry. & .Electric Co. stock under the anti-merger
law, but that it could not approve the bond issue, because the Utilities.Co.
The Commission on
July 23 also authorized the advertisement for bids
Astoria, Woodside and Corona elevated line, which will be
operated
jointly by the B. R. T. and the Interborough Co.
On July 24 the transfer
Western Pacific Ry.,—-New Officer.—E. L. Brown, VicePres.'of the Denver & Rio Grande, has been elected VicePres. also of the Western Pacific to succeed Charles H.
by the Interborough Rapid Transit Co.
Ave. Y, where connection will be made with
another line of the Munici¬
pal By. Corp. leading to Surf Ave., Coney Island.)
near
for the
of
the
so-called
Stein way
tunnel
was
authorized from
the
New York
l^ong Island RR. preparatory to construction work.—V.
97, p. 50.
&
merger Act.
'ine decision win not prevent the Utilities Co. from presenting
account thestock ,pf the Wash¬
bond issue plan which will not take into
ington-Virginia Ry. Co.—-V. 95,.p. 1209.
a new
£chlacks,.who resigned
as
First Vioe-Pres. and director.
As
-
subsidiaries, including the Pacific Telep. &
Mountain States Telep. & Teleg. Co. and
announced, B. F. Bush has been chosen as Pres. to
E. T. Jeffery, who becomes Chairman of the board
already
succeed
—V. 97, p.
Ry.—Lease Disapproved.—The
New Jersey P. U. Commission on July 23 disapproved of the
proposed 999-year lease to the Pennsylvania RR.
The Commission holds: (1) That the lease is tantamount to a sale
(2) That under such a transfer as is proposed there is a question as to whether
& Seashore
now has
the Penn¬
would
plead the rental
guaranteed by it in bar of a determination of just and reasonable rates
should such a question arise for adjudication.
This the Pennsylvania
Railroad refused to do.
(4) The board does not believe that in the
absence of some such assurance it should approve a lease with a guaran
teed rental in excess of the average dividend paid by the West Jersey
&
Seashore Railroad.
The Commission says: "It will not do to say
that the objections, or some of them, are far-fetched and violently improb¬
able contingencies.
An arrangement which wiU subsist for 999 years,
and which may affect both the public interests as well as the relations of
lessor and lessee, may well be analyzed with circumspection and care
Any evidence bearing thereon ought to be carefully analyzed and sifted.
If there are doubts as to its wholly beneficial effects upon the public, these
doubts must all be resolved.
If there is question of its exact legal purport,
intent and operation, such questions ought to be answered before affirma¬
tive action Ls taken by an administrative body of the State."
The
Pennsylvania RR. issued the
the Government July 24 1913.
Attorney-General McReynolds, suit was commenced
District Court of Portland Ore. against the Ameri-
Statement Issued by
By direction of
Thursday in the U. S.
Anti-Trust Act.
The suit grows out of numerous complaints
communities affected.
bill up to 1907 the Bell companies, as the American
Telep
& Teleg. Co. and its subsidiaries are called, had a monopoly of the
telephone business, both long-distance and local in the territory described.
Their service was inferior and unsatisfactory.
In consequence there were
established independent telephone systems in nearly every community in
the States named and also three Independent long-distance systems connec¬
ting those States, the Northwestern Co., with lines running through
Oregon and Washington, the Interstate Consolidated Co., with lines run¬
tlon of the
following statement:
of the West Jersey & Seashore
of Public Utilities Commissioners
circumstances, it would seem,
without authority to approve the lease in its present form without having
some of its features judicially reviewed.
The Commissioners point out,
however, that it lies open to the petitioner, by mandamus or otherwise,
to bring the matter to legal test and have settled by judicial interpretation
the respective rights of the companies and the board in this matter.
The
West Jersey & Seashore company may, therefore, desire to have the matter
judicially reviewed, as the objections raised by the Commission are very
broad in their scope as applying to the approval of Issues of new securities
as well as to the approval of leases.
The company's officers state that there
is nothing further to be said on their part until they have had an oppor¬
tunity to carefully consider the order of the Commssion and review its
Ry. to the Pennsylvania RR., the Board
Jersey find themselves under the
findings.—V. 97, p. 51.
Corliss, Wis.—Foreclosure Sale.
recently filed by WUliam P. Bloodgood, repre-
foreclosure was
bondholders.
The company was thrown into bankruptcy early in January last, shortly
after the death by suicide of Treas. Henry Schoellkopf.—V. 93, p. 538,
enting the
Yazoo &
Long
Washington, Montana and Idaho and the Independent
with lines running through Idaho and Oregon. Sharp com¬
ensued, and with it improved service.
Whereupon the Bell com¬
panies conspired to acquire or destroy the competing companies.
They
reduced rates below a paying basis at some points, gave free service at others,
and threatened those things at still others, their vast resources enabling them
to pursue that course.
Within a short time they acquired the
pendent lines in Seattle, Tacoma and at many other points, and
ning through
Distance Co.,
petition
Bell companies.
has been the suppression of substantially aU
transmission of long-distance messages between those
out to the
The result
the
Mississippi Valley RR.—Ouster
above.—V. 91, p. 1261.
Suit
1
Jllinois Central RR.
—
thus
companies as
stockholders
or
tions
Stock 1898 to 1912 Inclusive {Per Cent)
*02. *03. *04. '05. '06. *07-08. 09. *10-12.
7 7
7
7.7 7
-.
8 lOyrly
In stock....
..." 100 12H
..
20 -- 531-3
..
..
1904
Stock dividends: 1899. $75,000; 1901, $150,000; 1902, $50,000;
*100,000; 1906. *400,000. •'
Digest of Letter from Pres. W. L. Davies, Detroit, June 21 1913
Organization.—-Second largest paint and varnish manufacturer in the
world.
Business established and lncorp. in 1884 In Michigan.
Property
*98. '99. *00.
'01.
7
management has for many
business.
Jears adhered to the pol'
(Neb.) and Los Angeles,
Ft. Worth,
Portland, Ore.,
Topeka, &c.
Authorized. Outstand'g.
First mortgage 6% serial gold bonds
$2,000,000 $1,700,000
Pref.stock16%,cumulativecaUableat 110%,par $25] 2,000,000 1,075,575
Common stock (par $25, dividends Q.-M.)
2,000,000 2,000,000
Increases in capitalization: 1885, $10,000; 1886, $25,000; 1897, $75,000;
1899, $150,000; 1901, $400,000; 1902, $500,000; 1904, $750,000; 1906, $1.250,000; 1907, $2,000,000; 1908, $2,750,000; 1912, $3,075,575
Bonds.—An absolute first mortgage on all real and personal property
owned or hereafter acquired.
The company operates five modern fac¬
tories, total floor area abt. 20 acres, in Detroit, East Boston, Lincoln, Neb.,
acquired largely from accumulated profits, as the
rears adhered to the policy of retaining the bulk of earnings in the
las factories in Boston
ton, Dallas, Detroit, Lincoln
and branches in Birmingham, Chicago, Cincinnati, Detroit,
Jackson,
Mich., Minneapolis, Nashville, Pittsburgh,
St. Louis. Salt Lake City, San Fran., Spokane, Toledo,
Capitalization—
"
,—
now
of this property, in¬
stores. &c., after charging off an
The cost to the company
cluding equipment, branch warehouses,
annual depreciation, is approximately
$2,400,600.
This does not include
quick assets of $2,of this issue
capital. Company
value for trade names or good-will.
Also has net
of the bonds outstanding.
The proceeds
will pay off floating debt and supply additional working
must maintain net quick assets (cash accounts receivable and
equal to 125% of amount of bonds outstanding.
Additional bonds can only be Issued for the acquisition of fixed assets
or betterments at 75% of the actual cost, or for other corporate purposes,
after four years, and then only when net earnings are three times
Interest charges on bonds outstanding and to be issued.
any
566,822, or 151%
Inventory)
annual
Earnings.—Marwlck, Mitchell, Peat & Co. report: "The year ended
a net profit of $369,058 available for interest and
Nov. 30 1912 resulted in
dividend charges, after
making reasonable allowance
for depreciation."
Annual Gross Sales of White Lead, Lead Oxides, Dry Colors,
Painters' Colors, Enamels, Varnishes, &c.
1894.
1885.
$25,691
Assets
1899.
1907.
1903.
1912.
1913 est.
$5,000,000
$568,059 $650,334 $1,370,553 $3,160,403 $4,452,706
of Nov. 30 1912, after Adjust., incl. Present Sale of Bonds,
Liabilities ($5,625,497)—
($5,625,497)
$3,000,000
66,121
receivable.,
19,436
receiv., less reserve
821,009
Real estate, plant, &c
Notes
Accts.
Materials and supplies—
Prepaid insur. and taxes.
1,703,978
Pref. stock, 6%
Common stock
&c
*Net
3 Mos. ending
First M. bonds (this
2,000,000
issue) 1,700,000
58,675
payable, &c_._—
Reserve for extensions—
288,145
Surplus
503,101
Accts.
14,952
$500,000 accumulated in addition to paying dividends.
(mostly identified with the enterprise since Its
inception and holding large amount of stock):
W. L. Davies, Pres.;
Thomas Neal, Chairman Finance Committee; A. E. F. White, V.-Pres.;
M. W. Neal, Treas.; A. M. Woodward, Sec.; M. J. Waugh and F. R.
Dougall.—V. 95, p. 751.
and officers
Allegheny Steel
Co., Pittsburgh.—To Increase
,The stockholders will vote Sept. 23
$438,000 to $688,000.—V. 93, p. 106.
on
Debt.—*
increasing the indebtedness
from
Telephone & Telegraph 'Co.—Suit.—The
U. S. Govt, on Thursday filed a suit in the U. 8. District
Court at Portland, Ore., against the company and 16 of its
American
Interest.
$82,590
424,905
87,375
^—.$1,132,212
1,027,713
$337,470
349,500
-----
-Fund. S. F. Bonds.
$37,500
$45,285
36,561
40 500
$150,000
149,060
$174,030
162,000
charging replacements, renewals-and
June 30 1913! $8,996,555.
♦After
Attorney-General
Interest on
Sinking
Bond
;
Earnings.
$339,301
1911-12
Balance,-
Surplus.
$173,5' 6
260,469
$470,712
367,153
interest on loans.. Net
current assets
for
W. Hall and Treas. George A. Hill say the statement
twelve months ending June 30 1913 has been prepared on
san
Pres. Thomas
the 3 and
the
e
statement of June 30 1912, and the 12 months'
the adjustment of minor reserves and the approval cf
1230.
'
'
•
1
accounting basis as the annual
results are subject to
V. 96, p
auditors.
Works & Guarantee Co.—Protective
Committee.—Charles R. Scott has been added to the protec¬
tive committee (V. 97, p. 178) to represent English stock.
The Secretary of the committee Is B.W. Jones, 16 Wall St.
The Bankers
Trust Co. is the depository.
The London office of the Guaranty Trust Co.
has been designated as agent to receive deposits of stock in London.
Extracts from Statement Issued July 19 by L. L. McClelland (Recent¬
ly President J. S. & ,W. S. Kuhn, Inc.).
Upon the closing of the First-Second Nat. Bank of Pittsburgh, of which
Mr. W. S. Kuhn was President, it was deemed advisable by the officers
of both the American Water Works & Guarantee Co. and of J. S. & W. S.
Kuhn, Inc., to apply to the courts for receiverships in order to conserve
the assets of these two corporations for the protection of creditors, bond¬
holders and stockholders against the possible results of any impairment of
credit which might be caused by the closing of such a large institution with
American Water
Kuhn had been
which the Messrs.
It has since become
identified.
generally known that
neither the bonds, nor loans,
Guarantee Co.,
other financing of the American Water Works &
nor Of J. S. & W. S. Kuhn, Inc., caused the closing of the bank.
It is only necessary to refer to the comprehensive annual report Of
American Water Works & Guarantee Co. published in June (V. 96, p.
nor
any
the
1769)
end of its
appreciate the prosperous condition of the company at the
recent fiscal year.
J. S. & W. S. Kuhn, Inc., have also been annually
Increasing their surplus account after paying regular dividends to their
stockholders, the last of which was regularly paid July 1.
The receiver¬
ships of these two corporations, therefore, it will be seen, were
primarily as protective measures.
In my judgment everything is being done looking to the
all concerned.
Pending readjustments, and such official statements as
may later be forthcoming, I feel warranted in advising a
to
asked for
protection of
the confidence so far
evidenced by you.—V. 97, p.
continuance of
178,119.
Co.—Bonds Called —
Eight 1st M. 5% gold bonds secured on Duquesne plant, Nos. 39 to 46,
both Inclusive, dated Aug. 1 1911, for payment on Aug. 1 at par and int.
at Safe Deposit & Trust Co., Pittsburgh.—V. 91, p. 1575.
! *
Bessemer Coke
—Listed in London.—
$15,200,000 First Lien &
(See V. 94, p. 1450.):—
Bethlehem Steel Co
Stock Exchange has listed the
30-year gold bonds, Series "A."
1492, 1366. '
The London
Ref.
M.
V, 96, p.
5%
Braden Copper
The stockholders on
Mines Co., New York.—Authorized.—
the extension of the 7% bonds to
March 1 1916. The stock
bonds has been converted ■
July 21 authorized
1916 and of the time of conversion to
books showed that $43,000 of the $2,000,000
June 1
into
Net
date.
8,600 shares of stock to
Buffalo (N.
Y.)
*
-V. 96, p.
$313,721
290,250
290,250
1090.
,1909.
1910.
1911.
1912.
def.$23,331
Balance
'
Gas.—Earnings.—For calendar year:
$266,919
profits
Interest on bonds
cumulat.$1,075,575
Surplus of
Directors
condition, and will
&~Leather Co.—Earnings.—
American Hide
Prepared Paints.
Balance Sheet
Cash_
restoring competitive conditions.
suggestion of former
Commission upon the
Wickersham.—V. 96, p. 1703.
merce
1912
Dividend Record of Common
7
..100
thereby
otherwise,
proceeding is brought to correct an exceptional
interfere with the broad investigation of telephone condi¬
throughout the entire country undertaken by the Inter-State Com¬
This
1913
.
MISCELLANEOUS.
Acme White Lead & Color Works, Detroit—Bonds.—
Turner, Tucker & Co., N. Y., Bos. and Chio., and Allerton,
Greene & King, Chic, and Det., are placing privately at par
and int., $1,700,000 1st M. 6% serial gold-coupon bonds
dated July 1 1913 and due in annual installments on July 1
from 1916 to 1928 indl. (successively 2 of $75,000,>3 of $100,000, 7 of $150,000, 1 of $200,000), but callable at 102^and
'int. on any interest date, after due notice.
Auth., $2,000,<000; issued, $1,700,000.
Par $1,000, $500 and $100. Paincipal (July 1) and int. J. & J., payable in gold in N. Y.,
;Chic. and Det.
Security Tr. Co., Detroit, trustee.
7
of
extensive^area^.
.June 30—
GAS AND
INDUSTRIAL,
cash
competition in
States, leaving
companies in possession of a virtual monopoly of the means
telephonic communication throughout that
siepl
Th e Government asks, in brief, that the acts complained of be adjudged
be required to dispose
the Bell
12 Months /
1912-13.:
In
local inde¬
destroyed
the independent long¬
local independent lines
exclusion of the independoff from the principal
companies likewise sold
obstructed the connections between them and
distance lines.
At other points they induced the
into giving them all long-distance business, to the
long-distance companies.
Being thus shut
sources of business, the independent long-distance
not in any way
Wisconsin Engine Co.,
See
alleged in the
As
or
of New
A bill of
the
from
their approval of the lease
In withholding
communication in a number of Western States.
phonic
the State would not be deprived of regulating power which it
over the West Jersey & Seashore.
(3) The board suggested that
sylvania RR. give a written assurance that it
not
Teleg. Co,, the
25 individuals,
of the Anti-Trust Law in monopolizing tel-
alleging violation
178.
West Jersey
239
CHRONICLE
THE
Jul Y 26 1913.]
$328,190
290,250
$296,515
290,250
sur.$23,471 sur.$37,940 sur. $6,265
;
Burley Tobacco Co.,
Judge Harbeson
Kentucky.—No Receiver.—
in the Kenton County
Circuit Court at Govington, Ivy.;
in the suit of
Clarence
July 24 declined to appoint a receiver for the company
Elmer B. Stansifer on behalf of stockholders against
Le Bus
and about 50 other defendants.
The Court said that no evidence had
been introduced which would indicate that the assets of the company,
consisting of factory, storehouse, loose-leaf warehouses and stock on
were of less value than $1,500,000. while there was evidence to the
on
ha'd
might be worth nearly $2,000,000,
less than one-third of the assets.
that those assets
$518,000, or
effect,
the debt being only
Corp.—Common Dividend.—It is
the directors at their meeting in
to suspend dividends on the common stock.
California Petroleum
commonly believed that
August will agree
"Boston News
Burqau" July 24 said in substance:
"On Wednesday the
decline of abt. 5614 points from the high rec¬
decline of 50. The report that,the
company is up against decreasing oil reserves, its owners strenuously den v.
According to them, it has been found necessary to appropriate about $350 -
common
ord
sold down'to 16 H, a
and the preferred down
to 45, a
340
THE
CHRONICLE
000 this year for drilling, &c.
In the Coalinga fields there has been a heavy
making it necessary to install pumps much earlier
Drilling developments have not been altogether satisfactory
and the company has had to sink more wells than expected to keep
the
outflow up to requirements.
"Earnings before depreciation for the first six months of 1913 are reported
by the company to have been $1,075,915, not including depreciation.
This
is at the rate of $2,151,000 per annum, or about $250,OOO less than President
Doheny's estimate.
Deducting pref. dividends and extraordinary ex¬
penditures would leave about $931,000, or approximately 6% on the com¬
mon
stock.
The foregoing, however,
omits depreciation, and as the
company has announced that depreciation charges will not be slighted, it
appears that the common dividend, under existing conditions, is not likely
decrease in
pressure,
than usual.
to be earned in
1913."
Compare V. 96,
1227, 1231.
p.
Canadian Coal & Coke Co., Ltd.—Plan
Authorized.—
The security holders of the company and of the Western Coal & Coke and
Pacific Pass Coal Eields on July 18 and those of the Lethbridge Collieries
and St. Albert Collieries on July 19 ratified the plan (V. 97, p. 52) to refund
all existing bonds into $4,000,000 7% cum. pref.
The shareholders of the company were to meet
stock.
4
arrangements are about all completed for the underwriting by a prominent
banking house of $1,500,000 short-term notes of the company, to supply
the necessary working capital for the various subsidiaries.—V. 97, p. 52.
Central Leather Co.—Earns, for 3 & 6 Mos. end. June 30.
3 Mos.
1913.
Tot. net
through the tunnel, providing for a private supply should it be
quired.
Compare V. 95, p. 483.—V. 97, p. 53.
Denver
incl. int.
on
obligations (ex¬
Income from investments
Total
on
on
Preferred
1,487,551
809,228
1,585,094
$1,395,602 $1,665,401 $3,173,103 $3,206,205
9,594
2,296
13,006
" 14,153
,
Interest
1912.
cos.,-
cept bonds).739,403
Deduct—Int.
1913.
1912.
..$1,405,196 $1,667,697 $3,186,109 $3,220,358
$459,552
$459,552
$919,104
$919,104
9,278
40,200
44,528
80,400
582,732
582,732
1,165,464
1,165,464
1st M. bds__
debentures
dividends
.....
$353,634
$585,213 $1,157,013 $1,055,390
♦Total net earnings are stated after deducting
operating expenses,
cluding those for repairs and maintemance, approximately $272,315
the quarter and $537,847 for the six months.
surplus June 30
in¬
1913, $6,233,425.—V. 96,
p.
at
Water
re¬
Co.—Notes
Of¬
placing
are
and int. $200,000 6% coll. tr.notes. Circular shows:
par
Dated March 1 1913; due March 1 1916.
Total auth., $300,000.
Par
Principal and int. (M. & S.) payable at Interstate Trust Co., Den¬
ver, or fiscal agency in N. Y. City.
Secured by first liens upon lands
sold, upon which substantial payments, in most cases 50% or
more, have
been made, the unpaid balance
being assigned to trustee in proportion of
$500.
$1,000 for each $500 note issued, which ratio must
always be maintained.
These liens mature within next two or three years and all
payments thereon
are required
to be applied to the interest and principal of these notes
The company owns a large tract of fine land and old decreed
water rights
all lying within a few miles of Denver.
The lands are watered
by the
Castlewood system, which embraces several
large reservoirs and about 80
miles of canal and laterals,
representing an expenditure of nearly $1,000,000.
Compare V. 85, p. 471.
Economic Gas Co. of Los Angeles.—Bonds Held Void.—
The California RR.
Commission on July 14 handed down its decision
the application of the company to issue
$930,000 30-year 5% bonds of a
total issue of $1,500,000, which were sold some
time ago at 83.33.
The
Commission finds that $295,000 of the bonds which were
on
issued early in
the year were put out prior to the effective date of the
public utilities law
and
valid, and that $635,000 were subsequently issued. - The
company
however, permitted to issue $270,000 bonds to cover a transaction
involving $233,975 with Geo. H. Hayes.
The remaining $365,000 bonds
are
are
held void.
The Commission states that L. P. Lowe, President of the
company,
formed a concern called the California Light & Power
Co., and thereafter
issued a large number of the Economic company's bonds to Mr.
Lowe
(apparently $60,000) and to the California Light & Power Co.
($100,000).
The company, it is stated, "will be required to raise
money from some
source.
If it can make arrangements with the
purchasers of these void
bonds to settle in the amount paid for said
bonds, it will be required to
raise a little over $304,000, assuming that these
purchasers are in fact
purchasers in good faith.
As a matter of fact, it is clear from the evidence
that a considerable portion of these bonds Is held for the
purpose of sale
to avoid the jurisdiction of this Commission.
Under all the circumstances
we do not believe it will be
very difficult for the company to
Chesapeake & Potomac (Bell) Telephone Co. of
Virginia.—Bonds.—A mortgage was filed in Richmond on
July 3, the Old Dominion Trust Co. being trustee, to secure
not exceeding $5,000,000 first mortgage bonds, the
present
$2,500,000.
with
the companies and individuals holding these bonds for their
surrender,
and where this cannot be done, it will be ne^essarv for the
company to get
the money for these purposes from its stockholders."
for
1231.
The
be
&
fered.—Westling, Emmett & Co., Philadelphia,
Fort Worth
,
issue to
Homes
arrange
Surplus for period
Total
Suburban
is,
6 Mos.
(all prop.*).$2,135,005 $2,474,629 $4,660,654 $4,791,299
earns,
Exp. and losses of all
xcvii
run
Monday to create the new
Eref. stock, which will be given, par for par,"Toronto Globe" says that the
in exchange for the bonds of the
olding company and subsidiaries.
The
[Vol.
(Tex.) Power & Light Co.—New Stock.—
A certificate has been filed increasing the capital stock from
$3,560,000to
$3,860,000, the 7% cum. pref. stock being raised from $800,000 to $1,100,000.
Of the new pref. one-half has been sold to provide for
improvements
and additions and the remainder is reserved for future needs.—See V.
97.
119.
p.
Franklin's Inc., New York.—Indictment.—'
The Federal Grand
Jury on July 14 indicted Nova Adolphus
Harold Lewis Davis and Floyd N. Franklin, in business
as
Brown,
N. A. Brown &
Incorporated in Virginia in 1912 as successor of Southern Bell Tel. & Tel.
Co. of Virginia.
On Dec. 31 1912 there were no bonds outstanding and the
capital stock was $4,105,100, all owned by The Cheaspeake & Potomac
Telephone Co. of N. Y.
Earnings for 4 mos. ending April 30 1913, $476,053 (gross); expenses and deductions, $377,896; balance, $98,157.
P. H.
Co., this city, on the charge of using the mails to defraud.
It is charged
that by the use of literature making extravagant
statements, among others
a promise of 1000%
profits, the firm as selling agents succeeded in dis¬
posing of about $500,000 of the $650,000 authorized stock (par $10) at
Bethell,
Long
Pres.;
Ford Huntington,
Chicago Suburban Gas & Elec. Co.—Old Bonds Called.
The North Shore Gas Co. has called for payment on Aug. 1 at 105 and
the few remaining North Shore Consolidated Gas Co.
outstanding
bonds, of which, it is said, only about $10,000 are in the hands of the
public.
The $1,750,000 new 1st M. bonds of the North Shore Gas Co.
sold in 1912 will not be disturbed.—V. 96, p. 138.
int.
Cincinnati (O.) Gas & Electric
Co.—(luar.
Fund.—
See Union Gas & Electric Co. below.—V. 96,
p. 1704.
Columbia Gas & Electric
Co.—Acquisitions, &c.—
See Union Gas & Electric Co. below.
-
New Director.—William P.
Philips of J. & W. Seligman &
Co. has succeeded George H. Worthington of Cleveland as
director.—V. 97, p. 53.
•
Columbus (O.) Gas & Fuel Co.—President Resigns.—
Henry D,., Turney, who has been President and a director since May
1907, resigned on July 22.
A successor is expected to be elected shortly.
The board disapproved of the contract
proposed by Mr. Turney bv which
the Columbus Gas & Fuel Co.
was to sell to the Ohio Fuel
Supply Co. its
gas-producing territory, and was to purchase from the Ohio Fuel Supply
required to supply its consumers.
Ex-Governor Campbell, Chairman
of the committee investigating th,e gas
supply, reported that the supply of
gas on hand will be more than adequate for all requirements
during the
coming winter.—V. 97, p. 115.
gas
Computing-Tab ulating-Recor ding ^Co.—Earnings.—.
6
Mos.—Prop. Profits Sub. Cos.—
C.-T.-R. Expenses*
Balance, Exp.(less
Bond
Divs. Paid Balance
Avail'le. Int.Rec.). Interest.
(1%).
Surplus.
1913
$659,130 $98,722 $560,408 $23,917 $209,883 $209,146 $117,462
1912— 579.080
98,241
474,839
20,792
210,000
244,047Adding discount on bonds purchased from sinking fund June 20 1913,
$15,360, makes a total of $132,822 added to surplus for the 6 months
ending June 30 1913.—V. 96, p. 1366.
ending
Profits
JuneSO. Sub.Cos.
Res. for
Deprec.
Consolidated
Coppermines Co., N. Y.—Bonds,
&c.—
Stockholders of record July 5 1913 who desire to subscribe for .their
pro
rata share of the $2,500,000 convertible bonds now
offered, namely for one
$100 bond for each 25 shares of stock, must file their
subscription warrants
with the Bankers Trust Co., 16 Wall St., on or before
Aug. 1.
These'bonds
1 1928, and bear interest from Feb. 1
will be dated Aug. 1 1913, due
Aug.
1915 at 7% per annum, payable
semi-annually.
Par $100, $500 and
Redeemable by company by lot at 110 and int. on any int. date,,
prior to redemption into stock, $ for $.
They will be secured by a mortgage or deed of trust to Bankers Trust Co.,
trustee, covering all stock acquired in, the four constituent properties and
their mining and other properties when taken over.
Subscriptions after allowing for interest accrued on prior installments are
payable as follows on each $100 bond, viz.: with subscription, $25: Feb. 1
1914, $24 12; Aug. 1 1914, $23 25; Feb. 1 1915, $22 38.
All subscriptions
may be paid in advance
but no further interest deduction will be allowed.
On July 5 1913 the Consolidated Co. had
outstanding 625,000 shares.
$1,000.
and convertible by holder any time
Condensed Statement by Pres. Charles F. Rand
71 Broadway
July 7.
It is proposed that the proceeds shall, until the
physical properties are
acquired, be loaned from time to time to one or more of the subsidiary
companies for payment of floating debt, prospecting, developing and
opening up new ore bodies and for determining the best method of extracting
metals, and, when such method is determined, for constructing a concen¬
trating and smelting plant for the treatment of ores of the Consolidated Co.
and any customers it may have.
Of the $2,500,000 bonds, It is understood that directors and
large stock¬
holders agreed to take about $1,000,000.
Memorandum of Stocks Deposited for Exchange (as of July 25).
GIroux
1,207,208 shares out of 1,441,420
Coppermines
364,941 shares out of
381,178
Butte k Ely
100,407 shares out of
250.000
Chamman
767,570 shares out of
860.821
—V. 97. p. 119.
.
Consolidated Gas Co. of New York.—Tunnel
Opened.—
A newspaper statement revised for the
"Chronicle" says:
The tunnel
connecting the Bronx with Astoria, nearly one mile in length,
*
ji! used for carrying gas from the Astoria works to the Bronx, and later
fordistrlbution under the Harlem River to
Manhattan, was opened July 16.
Two
large
th® tunnel,
72-inch,
gas mains, 2>£ inches thick, are to be installed in
to be followed by as many more when the
necessity arises for
distribution in larger quantities.
In addition two large water pipes will
$8
per
share of Franklin's Inc.,
a
candy-making
concern with factory at
accused and
Island City.
The defendants claim to be unjustly
continued to send out circulars after the indictment.
Vice-Pres.
Great Western Power Co.—Securities
See Western Power Co. below.—V. 96, p.
Pledged.—
1843.
Hazel-Atlas Glass Co., Wheeling, W. Va.—Bonds.—
This company, having factories at Washington, Pa,,
Wheeling, W. V.
and Clarksburg, W. Va., for the manufacture of bottles,
tumblers,fruitjars and glass specialties, has filed a mortgage to Dollar Savings & Trust
Co. of Wheeling, as trustee, to secure an Issue of
$1,000,000-6% 25-year
bonds dated June 1 1913.
Par $1,000 and $500.
The mortgage covers
property in Harrison County, W. Va., Ohio County, W. Va. and Wash¬
ington County, Pa. The purpose of the issue is to take up $375,000 out¬
standing bonds dated June 1 1908 and to pay for enlarging the plants;
$375,000 of the bonds will be held by the trustee until the old bonds are
brought in for exchange or are taken up by the company at the next interest
period, Dec. 1 1913.
Some of the $625,000 new bonds have been sold
through Wheeling brokers, but how many will be sold at this time bas not
been decided.
Officers: G. N. Brady, Chairman; W. 8. Brady, Pres.;
J. C. Brady, Vice-Pres. and
Treas.; G. G. Oliver, Gen. Man.; A. B. Paxton,
Sec[A consolidation under W. Va. laws in Oct. 1901.
Stock auth..
$3,000,000 in $100 shares; outstanding at last accounts, $2,500,000, on
which quarterly dividends of 2% each were being paid, with some extras
(1911. 1%).
SeeV. 93, p. 733.J
Illinois Northern Utilities Co.—Bonded Debt.—
This, we learn authoritatively, includes (a) First <fe Ref. 5s, due April
1957, issued (V. 95. p. 1123; V. 94, p. 1383) $2,759,000, less $392,000 in
treasury; outstanding, $2,367,000.
(b) Underlying bonds outstanding:
DeKalb County Gas Co., $199,500; Sterling Gas & Elec. Co., $249,500.
Amboy Light & Power Co., $3,600.—V. 96, p. 553.
Independent Brewing
Co.
of Pittsburgh.—
A circular, signed by Secretary H. C. Baxmeier as of July 15, confirms
the data
published last week, except that the amounts of stock scrip which
full settlement of the 26 %% of accumulated and
unpaid dividends (to May 31 1913) upon the pref. stock, in case the plan
is duly approved, will amount to $6,744 in pref. stock and $7,327 in common
will be distributed in
stock
on
each share of pref. stock.
Compare V. 97,
Kansas City Stock Yards Co. of
p.
179.
Missouri.—Refunding.
—The (about) $630,000 convertible 5% bonds due Aug. 1 1913 will be paid
on and after that date at the office of Estabrook & Co., 15 State St., Bos¬
ton, to whom the company has sold a sufficient amount of its 5% bonds due
Feb. 1 1920 to cover this payment.
^Holders of the maturing bbnds are
offered by the firm named the privilege of exchanging the same for new 5%
bonds
on
terms
V. 95, p. 1275,
Kansas
which
will
be
1545, 1749.
Natural
furnished
upon
application.
Compare
.
,
Gas
C!ff&*Qecision.—
Judge Marshall in the Federal Court at Salt Lake City on Julv 24, ac¬
cording to press (jispatches decided that the company need not extend its
pipe lines to new fields in Oklahoma, as directed by,the Kansas Utilities
Commission'.
The Commission has ordered the company to spend part
of its surplus to extend its lines to Oklahoma so that the people of Kansas
might have adequate gas this winter.
The Court holds that the Commis¬
sion has failed to show anything in the company's charter requiring it to
extend its lines.—V. 97, p. 179.
(S. S.) Kresge & Co.—Sales.—
1913—June—1912.
$976,087
$799,340
—V. 96, p. 1427.
Laclede
6 Mos. end.
June 30—
1913
1912
—'V.
Gas
1913—6 Mos.—1912.
$176,7471 $5,062,142
$1,301,511
Light Co.—Earnings.—
Superior
•
Paper
-
Co .—Merger
Plan.—
Spanish River Pulp & Paper Mills below.—V. 9$,
See
Increase.
$3,760,631
Gross
Net (after Deprecia- Interest
Pref.
Balance,
Earnings.
Taxes).
tion.
Paid.
Div.
Surplus.
.$2,282,261 $1,166,454 $137,976 $519,492 $62,500 $446,486
2,203,072
1,126,907
132,394
504,370
62,500
427,643
96, p. 1233.
Lake
Increase. I
p.
422.
Laurentide Co., Ltd. (Paper Mills), Montreal.—New
Stock.—In circular of July 18 Pres. W. C. Van Home,
says:
meeting of the directors held on July 10 1913, it was decided to
in¬
the issued capital stock from $7,200,000 to $9,600,000
by offering
shareholders of record at 3 p. m. July 23 1913 an additional
24,000
shares at par ($100) in the proportion of one new share for
every three old
shares held on that date.
Subscription blanks, duly signed and witnessed,
must be deposited at Royal Trust Co., Montreal, before noon
Aug. 30.
Subscriptions payable 10% down and 10% on the 20th of each month from
Oct. 1913 to June 1914, inclusive, with privilege of
anticipation.„ Interest
At
a
crease
to the,
fiT"
July 26
6% allowed on all payments to June 30 1914.
New stock certificates
after July 2 1914.
received from the proposed issue will cover the estimated
at
241
CHRONICLE
THE
1913.]
to be ready on or
The funds
expenditures required by the company during the next two years in the de¬
velopment of the company's immense water-power at Grand Mere, where
its paper mills are situated.
The work now going on will bring the present
22,000 h. p. up to 75,000 or 80,000 and eventually to 100,000 h. p.
This
increased development will provide for any probable future expansion of
the company's paper mills and at the same time will afford a large amount
of surplus power.
Inquiries have already been received for a considerable
portion of this power and at profitable rates.
The present 22,000 h. p.,
which is entirely used for the working of the company's mills, afforded for
the year ended June 30 1912 a net profit of more than $38 per h. p.
Com¬
pare V. 95, p. 678.
■
-
Pure
Oil Co., Pittsburgh.—Extra- Dividend.—
An extra dividend of 2% has been declared on the $4,535,245 common
stock,.along with the regular quarterly disbursement of3% .payableSept. 1
to holders of record Aug. 15, being the same amount as on June 1 last.
Compare V. 96, p.
1233.
Rumely Co.—New Officers.—D. 0wings, for the
last 8 years- connected with the International Harvester
Co., has been elected a director and Vice-Pres. to succeed
Dr. E. A. Rumely, who resigned.
(M.)
Rumely succeeds C. H. Hilton as Secretary, who remains a director.
Gifford, of Chicago, resigned from the board of directors.
Mr.
the new Vice-President, will have charge of the collection and
credit department.—V. 97, p. 55.
Mr.
Herman
Owings,
Lincoln (Neb.) Telephone & Telegraph Co.—Pref.
Stock, <fcc.—The State Railway Commission has authorized
(a) the issuing of $1,100,000 special 5% pref. stock at a price
netting not less than 92 cents on the dollar, to provide for
acquisitions, extensions, additions, refunding, &c.; (b) the
purchase of stocks and bonds of the following cos.: Hastings
Independent Telephone Co., $134,085; Fillmore County
Telephone Co., $41,522; Dewitt Telephone Co., $22,525;
total, $198,132.
Compare V. 89, p. 473; V. 94, p. 212;
V. 97, p. 53.
Long Acre Elec. Light & Power Co., N. Y.—Decision.
The
Appellate Division of the Supreme Court in this city on June 10
dismissed the writ of certiorari obtained by the New York Edison Co. to
review the order of the P. S. Commission issued on Mar. 3 granting permis¬
sion to the Long Acre Co. to issue $2,000,000 stock and $4,000,000 bonds.
San Joaquin Light & Power Corporation.—Note Issue.
—Subject to authorization by the shareholders (on Sept. 4),
the company has sold to N. W. Halsey & Co. an issue of
2-year 6 % collateral trust notes (interest payable quarterly),
dated Aug. 1 1913, redeemable at 101 and int.
Total issue
to be limited to $1,875,000, secured by $2,500,000 "First
and Refunding M. bonds."
It was announced early in June 1913 that during the ensuing year $2,be expended in increasing largely the steam and hydro-elec¬
tric-generating capacity and in building transmission lines.
The new note
issue will increase the funded debt to $9,287,000, viz.: These notes, $1,875,000- old underlying bonds (San Joaquin Lt. & Power Co. and sub. cos.),
$3,i56.000; San Jo. Lt. & P. Corp., $4,256,000.—V. 96, p. 1368.
000 000 would
Shelby Iron Co.—Eamings- -For
Compare V. 96, p. 866, 719, 65.
Magnolia Petroleum Co. of Texas.—Not Guilty.—
[The company has made a mortgage to the Columbia-Knickerbocker
Trust Co., as trustee, to secure an authorized Issue of $10,000,000 25-year
$1,000 gold bonds dated Jan. 1 1912.
Of the bonds .part were used to
off the $3,550,000 old bonds outstanding, and of the remainder $2,000,000 were available for issuance at once for working capital.
Pres.,
J. Sealy;
Sec., Courtenay Marshall.—Ed.j
6%
pay
Light
Manufacturers'
&
Pittsb.—Earns.
Co.,
Heat
Gross
Net
Other
Interest,
Divs.
Earnings.
Earnings. Income.
&c.
(1%).
_$3,485,778 $1,766,724 $39,079 $150,744 $805,000
3,229,228
1,679,764
18,565
175,810
215,000
6 Mos. end.
June30—
1913
1912
—V. 96,
p.
Balance,
Surplus.
$805,129
1,307,519
1233.
Marmet Coal Co., Cincinnati.—Receivership.—
Judge Spiegel in the Superior Court, on application of Pres. William
'
stockholders and creditors for $10,000 and
appointed Edwin Marmet, Vice-Pres., and Charles
Marmet and Lucie Marmet, as
$47,209. respectively,
Poysell, Gen. Mgr., receivers.
The company has been in existence 47
years.
The assets, exclusive of good-will, are estimated at $1,300,000,
while as a going concern they are claimed to be worth $1,650,000, and the
liabilities at only $475,000.
The company is stated to be wholly solvent,
the temporary embarrassment or lack of ready cash being attributed to
circumstances, such as recent floods, general industrial unrest and the
natural dulness 6f the coal business at this season of the year.
The petition states that the company is unable to meet its obligations at
present because of "uncontrollable circumstances and unsettled conditions
generally, and also recent floods and general dulness at this period in the
coal trade and general unrest in the industries of the country," as well as
inability to secure loans sufficient to "tide it over to a more settled and
favorable period."—V. 93, p. 875.
•
W.
Massachusetts
Gas Companies,
Boston.—Earnings.
-12 Mos. end. June 30-
-June-
$71,858
Citizens'Gas Light Co
Newton & Watertown Gas Co
Boston Towboat Co
$655,738
1,346,547
62,946
19,970
72,352
55,217
5,760
/ 46,748
77,452
22.619
2,950
2,033
--
5,660
6,462
73,491
36,629
28,541
152,663
2,523
3,746
Co..
2,385
1,372
22,374
43,036
_
Total
—
—V. -96, p.
121,983
' 4,712
1911-12.
$789,928
1,423,283
$72,451
127,738
6,639
East Boston Gas Co
New England Coal & Coke
Federal Coal & Coke Co
1912-13.:
1912.
1913,
Earnings of Subsidiary Cos.
New England Gas & Coke Co
Boston Cons. Gas Co
.$256,827 $240,857 $2,604,847 $2,265,279
1843.
May Department Stores.—Earnings.—
•
earnings for June 1913 increased, it is reported, 23%, and for
Gross sales have, it is stated, been
averaging close to $2,000,000 a month.—V. 97. P- 54.
The gross
the 5 months ending with June 20%.
States
Mountain
See American
New
Telep.
Co.—Govt. Suit.—
Teleg.
&
Telep. & Teleg. Co. above.—V. 97, p. 120.
York Telephone
The company on
July 23 accepted the order of the
P. S. Commission,
toll calls from public telephones
subscriber's telephone is 10c. or more.
The toll rates were reduced generally
to-day.
V. .96, p.
public telephone
where the initial
The change is effective
I.
July
on
Compare
1706, 1633/
Niagara Falls Power Co .—Combined Income Account —
3 Mos.end.
1913
1912.
Fixed
Charges,Ac.
$311,883
307,582
$52,686
54,162
$626,291
$12,752
Net
Earnings.
'
609,078
—_
6 Mos.—
Ontario
June 30—
Surplus.
8288,042
231,144
\»
1913—$1,312,422
1912.
1,220,863
—V. 96, p. 1837.
6 Mos. to
Balance,
Other
Income.
$42,206
42,647
$1,064,855
975,076
Earnings.
$682,849
$557,718
496,079
Gross
June 30.
Power
Sale of
Power.
Co.,
Govt
Rental.
Net
Earns.
1913,...$724,040 $37,107 $686,033
1912—570,607
31,835
538,771
96, p. 1019.
•
Other
Int. on
Balance,
Bonds.
Surplus.
$597,215 $11,903 $339,083
451,104
11,204
323,793
—V.
Mail
Pacific
'
Steamship Co.—Suit
$270,034
138,516
-
Branch of the U. S.
RR.
The amount
asked for is for the loss sustained through the sinking of the ship Newport
at Balboa, Canal Zone, on Aug. 17 1912.
Two big cranes fell upon the
vessel while it was fastened to a wharf.—V. 96, p. 1559.
Pacific Telephone & Telegraph
Co.—Gov't Suit.—
Telephone & Telegraph Co. above.—V. 96, p. 1706.
(John W.) Peck & Co., Ltd., Montreal.—Stock Increase.
A certificate was filed
with the Secretary of State of Canada, dated
1913, increasing the capital stock from
6
May
$2,750,000 to $6,000,000, par $100.
Pittsburgh Coal Co., Pittsburgh, Pa.—Earnings.—
Mos. ending
Net
Depletion
Deprec'n
Bond
Balance,
Profits.
June 30—
1913
1912
—V. 96, p.
$2,376,977
—
1,669,649
Coal Lds.
$335,912
248,660
Plant, Ac.
$368,099
405,625
Interest.
$431,959
429,284
Surplus.
$1,241,007
586,080
1160.
'
Pittsburgh Oil & Gas Co.—Earnings.—
3 Mos. ending
,
June 30—
Total
Receipts.
Other
Income.
»
Total
Earns.'
Expenses.
Int., Ac.
Bal.;
Surp.
1913.....
$194,250
$5,285
$199,534.
$110,729
$88,805
1912
167,764
2,819
170,583
131,940
38,643
Gas sales, 316,874,000 cu. ft. for 3 mos. in 1913, against 256.689,000 cu.ft.
for 3 mos. in 1912.
Oil sales, 625.531 barrels, against 72.794 barrels.
—V. 96, p.
1301.
The new bonds are
Jan.
due July 1 1943, but are redeemable on and after
105 and int.
Int. J. & J at office of trustee.
1 1916, any or all, at
$1,000.
Capital stock outstanding,
Z. V. Taylor;
Sec., W. C. Parker; Treas.,
lotte, N. C.
See also V. 97, p. 180.
Par
$3,500,000.
Officers: Pres.,
E. C. Marshall. Office. Char¬
Spanish River Pulp & Paper Mills —Merger Plan.—
will vote, July 28 on ratifying (a) an agree¬
ment for the acquisition of the entire capital stock of the
Lake Superior Paper Co. ($3,000,000 pref. and $5,000,000
common) and $900,000 cash; (6) the issuance therefor of
$3,700,000 pref. shares and $5,000,000 common shares (c)
The shareholders
guaranty of $5,000,000 bonds of
and, in this connection, (d) the
share
Spanish River
Capitalization.
Corm
Lake Superior Paper Co.,
increase of the authorized
capital of the Spanish River P. & P. Co. to $20,000,000.
■After Mergcr-
Auth.
Issued
-Before MergerIssued.
j\.uih»
See Also
'Chronicle'
stockZ_.$10,000,000 $8,000,000 $4,000,000 $3,000,000 V .94,p.1630
7% cum.
• .
•
3,000,000 V.94,p.566
6,700,000
3,000,000
partic. stock.10,000,000
2,425,000 «V.93,p.475
2,425,000
2,500,000
Span. R. bonds. 2,500,000
1,500,000 V.94,p.830
1,500,000
1,500,000
Ont. Pulp bonds 1,500,000
V.92,p.798
5,000,000
Lake Sup. bonds 5,000,000
A syndicate agrees to deliver to the company the $3,000,000 preference
shares and the $5,000,000 common shares of the Lake Superior Paper Co.,
and the $900,000 cash in fixed installments in consideration of $3,700,000
fully-paid preference shares and $5,000,000 fully-paid common shares of
the Spanish River P. & P. Mills, and the guaranty of the principal, interest
and sinking fund of the $5,000,000 1st M. bonds of the Lake Superior
Paper Co. (V. 96, p. 422).
Pref.
"
Further Data from Letter
The consolidation
of T. H. Watson, V.-Pres. & Man. Director.
includes some of the largest financial interests in
Lon¬
Superior Paper Co.'s properties are located at Sault Ste. Marie,
Ont., within 100 miles of our Espanola plant, and embody an entirely new
installation for the production of ground-wood pulp and newsprint paper,
as well as a sulphite plant.
They have four new paper machines of latest
design with a capacity of 230 tons per day, which is practically the same
capacity as the present plant of the Spanish company, and the combined
output of the plants will make your company the largest producer of
newsprint paper in Canada.
The Lake Superior Paper Cd. has acquired rights to cut pine, spruce
and other woods over the land grants of the Algoma Central Ry., com¬
prising 1,637,250 acres.
The joint operation ,of these large plants will result in great economy
as to cost of management and distribution of products, and will materially
reduce the cost of production by the increased efficiency in operation of all
machines at maximum capacity.
■
.
'
"
,
,
,
Both companies' mills are advantageously situated to care for Western
territory ana to-day have booked contracts for about 90 % of their output.
—V. 94, p. 1630.
Standard Oil Co.
of Indiana.—4 % Extra.—
"
quarterly dividend of 3% and 4% extra have been declared on the
$30,000,000 stock, payable Aug. 30 to holders of record Aug. 11, comparing
with 3% and 3% extra on May 31 and 3% and 4% extra on Feb. 28 last.
3% and 7% extra on Nov. 30 last and 3% (without any extra) on Aug. 31
A
1912.—V. 96, p. 1234.
—
The company on July 22 began suit in the Admiralty
District Court to recover $800,000 from the Panama
See Amer.
$73,280
119,158
1714.
.
$491,250
416,486
Income.
'
TotalSur.
Mar. 31.
Southern Public Utilities Co., Charlotte, N. C.—
Bonds.—This company, incorp. in Maine last March (see
V. 97, p. 180) with $5,000,000 of auth. capital stock in $100
shares as an ally of the Southern Power Co. (V. 95, p. 1625),
has made a mortgage to the Farmers' Loan & Trust Co. of
N. Y., as trustee, to secure not exceeding $30,000,000 of
First & Refunding 5% bonds dated July 1 1913, of which
$1,850,000 are now to be issued and $1,794,000 are reserved
to retire prior liens that remain outstanding.
*
Niagara Falls.—Earnings.—
Gross
Income.
.
$70,188
98,070
The Lake
within New York City to points within the city, so that the
rate and the subscribers' rate will be the same in all cases
rate from a
Ac.
$24,310
40,532
don.
Co.—Accepted.—'
Second District, adjusting the charges for
...$119,158
176,696
1912-13
1911-12
—V. 91, p.
ending Mar. 31:
Exp., Dep.
Gain.
o/ Yeor
March 31 Year—
Oil Co. of New Jersey below.
See Standard
year
Yearly
Surp. Begin.
Standard
Oil
Co.
of New Jersey.—Settlement of Texas
Suit.—The suit begun in March last by
the Attorney-General
against the Standard Oil companies of New Jersey
and New York, the Magnolia and Corsicana Petroleum com¬
of Texas
panies of Texas and 28 individuals (V.96, p. 1160), in which
penalties aggregating about $102,000,000 were demanded,
has been settled by payment of $500,000 by the N. J. co.
KfttSffiSBSkStatement by Attorney-GeneraI2Looney.fl?5^Eg®^a
!? The penalty of $500,000, with the safeguards placed about the operation
of the Magnolia and Corsicana Petroleum companies, satisfies the demand
of the State.
It seems to be that prevention of combinations in any line
of Industry is of greater benefit to the State than could possibly be the
assessment of large penalties after the violation of law had taken place.
It is better for the State to prevent crime than to punish crime."
Statement by John Sealy
Pres. of Magnolia Petroleum Co.
While the Standard Oil Co. of New Jersey, as owner of more than twothirds of the stock of the Waters-Pierce Oil Co., in effect paid more than
two-thirds of the fine of $1,623,900, which, with interest, was paid to the
State of Texas in Dec. 1909, the Standard Oil was hot technically a party
to the suit, and therefore was not protected by judgment from further
prosecution.
Ships of the Standard calling at ports of Texas were liable
to seizure by the State.
In order to wipe out the past and protect itself
and those who had acted as its officers from further^ arrassm en t, the
CHRONICLE
THE
Standard concluded, as ai blistntes proribsltiott, that it could afford to pay
the addltional fiiie of $500,000 exacted by the Attorney-General of Texasv_
by all parties connected, with the
Magnolia Co. that it was an independent company; conducted solely in its
own interest, and in order to get the Magnolia out of the hands of the
receiver and partly restore its credit so that it could resume business,
Messrs. Archbold and Folger concluded that they could afford to have
their Magnolia stock {stated as-21,596 out of 24,500 shares.—Ed.J placed
in the hands of a trustee {for operation as a completely independent com¬
pany, the trustee, Judge F. A. William of Austin, having been mutually
agreed upon.
Corsicana Co. is also allowed to-continue operation.—-Ed.]
As the Magnolia now seems to: be fully guarded, we, professionally and
personally, have no further direct interest in the subject; but as a citizen
of Texas, I think that the State should provide for the enforcement of its
anti-trust laws by a mandamus and injunction, and should remove the terror¬
In verification of the statement made
multiplied penalties—in this
or less than & of 1%,
ism of these
$500,000,
After
an
case
$102,000,000; denouement,
'
,
,
_
Magnolia Co. and
exhaustive examination into the affairs of the
the taking of 3,000 pages of evidence, the company and its officers &re found
not guilty of any violation of the law.
Each of the defendants, except the
Standard of N,« J., is likewise found not guilty.
The Standardof N ; J. is
found not guilty or violation of the law since Oct. 26 1900.—V. 96. P. 1560.
Stewart-Warner Cdrp., N. Y.—Pref. Stock Sinking
Fund.
It is announced that the company will anticipate its pref. stock sinking
fund payment of $65,000, not required until Dec. 31, and will apply this
amount on Aug. 14 to purchase of pref. stock at lowest
Sealed tenders will be received at the Central Trust
prices offered.
Co., Chicago .jprior
Aug. 5, stating, over signature of owner, the amount of stock offered
and the net price asked.—See V. 96, p. 1234, 207, 140.
to
Tonopah Mining Co.
of Nevada.—Dividends, &c.—A
notice to the stockholders says:
It is probable that the next dividend wiU be based
.
the surplus earnings
continua¬
financing
any new operations that may be undertaken.
Dividends of 15 cents and
cents extra were paid quarterly from July 1910 to July 1913 incl. on the
on
for the quarter, after providing for the possible requirements, in
tion of the policy of creating and preserving a surplus fund for the
of
25
$1,000,000 stock (par $1).
The net income
there
was
cash
on
^
™
oi
ror the quarter ending May 31 was $356,189.
On May 31
hand, $382,529; other quick assets were: Bonds and, notes,
$1,185,885; certificates of deposit, $125,000: loans on collateral, $600,500;
dsducting quarterly dividend payable July 31
1913, $400,000, leaves
$1.893,914.—V. 96, p. 1234.
Toronto Electric Light
8e0 Toronto'Street Ry. under
Co.—Possible Sale to City:—
•'Railroads" above.—V. 93, p. 1328.
Twin Tails Canal Co., Idaho.—Decision
request of E. R. Hobbs, a stockholder, in the suit against the Twin Falls
Canal Co. and the Twin Falls Land & Water Co. (the latter the construction
that built the system) restraining the company from issuing
$300,000 bonds.
Chief Justice Ailshie wrote the opinion concurred in by
company
Justice Stewart, Justice.Sullivan dissenting.
It is held that the company has the power and authority,
articles of incorporation and the statute of the State (section
both under its
2769, Revised
amended by the 1911 session of the Legislature), to borrow money
and execute bonds and mortgages therefor, and that the directors may do so
without submitting the question to the stockholders j
Code,
as
Union
Gas
Electric
&
Co.,
Cincinnati.—Guaranty
Fiind.—The directors of the Cincinnati Gas & Electric Co.
on
Wenatchee Valley (Wash.) Gas & Electric Co*—Notes
Offered.—Westling, Emmett & Co., Philadelphia, are* placing:
at par and int. 6% 3-year collateral trust coupon notes.
Dated Jan. 1 1912 and dUe Jan. 1 1915.
Interest J. & J. at West End
Trust Co., Phila., trustee.
Entire issue, $200,000.
Par $500.
Digest of Letter from Pres. Arthur Gunn, Wenatchee, Feb. 10 1912.
On account of additions, extensions and betterments not provided for In
the issue of $700,000 General 1st Mortgage bonds (including the purchase
of the property of the Brown Electnic Co., aggregating $86,470), the com¬
pany has authorized an issue of $200,000 3-year 6% notes dated Jan. 11912,
secured by an issue of $400,000 bonds.
These bonds are secured by amortgage on ail our present and future assets, subject only to the lien of
the General First Mortgage bonds. Compare V. 92, p. 1315.
Western Tower Co., San Francisco.—Notes Offered.—W.
Bonbright & Co. and E. H. Rollins & Sons,are offering at 98
and int. $1,250,000 coll. trust 6% 2-year coupon gold notes,
P.
dated
thereby bringing this fund up to the amount [$3,000,000] required under
til6 108450*
"The business and earnings of the lessee company, as reported to us, show
satisfactory increases.
We are in negotiation with the lessee for the con¬
struction by it of a new electric generating station of modern type and
sufficient capacity to fully meet the present and future needs of the city.
The matter wilrbe submitted to the stockholders for their approval before
(For plan as reported in June 1913, see Cincinnati Gas &
Electric Co. in V. 96, n. 1704.)
"In view of the many irresponsible Statements being circulated in regard
to this and other corporations, as to 'real values/ future plans, Sec., it seems
opportune time to caution stockholders against giving credence to
to us an
30
on
Capitalization—
Authorized. Outstand'ti.
2-year 6% secured'gold notes (Only funded debt)
$1,250,000 $1,250,000'
Pref. stock 6% cum. Jan. 1 1912, par $100
—6,000,000
6,000,000
Common stock.
2
;
14,670,000 14,670,000
—
them."
Slock.—It is understood that practically all the minority stock assented
'
'
,
Union
.
■
■
——-
the notes is canceled.
Owns entire capital stock, oxeopt qualifying directors' shares, of Great
Western Power Co., which, directly and through its subsidiaries, owns and
Oil
annual
rate
Gross Sales for
(7.2%).
Half-Year.—San Fran. "Chronicle" reports:
,
^
February
....
*
1,440,884
1,655,136
1,089,510 May.
1,269,328 June-
1,813,900
1,755,673
1912.
,295,9!—
1,437,418
1,351,783
Total for
half-year.—$9,689,828 $7,760,728
Average increase per month for the six months, $321,519.
During May the company struck a new well in the La Habra Valley,
which flowed about 600 bbls. a day.
Notes.—The company some weeks since completed the sale
of all of its $4,000,000 of serial notes authorized as of May 1
1013, thus providing for all requirements in 1913 and 1914.
Compare-V. 96,.p. 1368.—V. 96, p. 1707, 1494.
United States
Dividend
—
Light & Heating Co., New York.—No
The directors have decided to omit the regular
semi-annual payment
lative pref. stock.
from Jan.
of 33^% on the $2,500,000 7% cumu¬
Regular payments at this rate were made
1910 to Jan. 31
has been made
1913 inclusive.
The
following
public:
While the earnings so far this year have been excellent, payment of the
3H% semi-annual dividend on the preferred stock was deferred last month.
Pres. Smith has just returned from Europe.
Speaking of the company's condition and failure to declare the preferred
dividend when due in June, a director of the company said: "In the first
4 months, the company's net
and at present the company
earnings averaged about $55,000 a month,
is earning the pref. dividend requirements
more than three times over.
Recently, however, about $7,000,000 worth
of orders were received and it was found necessary to increase the size of
the Niagara Falls plant.
These improvements were provided for out of
the treasury, and some short-time financing, and while it left the
plant
without a mortgage of any kind, I believe it unwise for the present to place
a further drain on the
treasury.
A more cautious step would be to defer
payment of dividends in order that large capital requirement
may be
readily provided. —V. 96, p. 1160.
Utah Securities
Corporation.—5% Colled.—The com¬
has made a call of 5% on the underwriters of the
$27,000,000 10-year 6%notes,making 60%inaU ealledfor,
the last previous call having been for
5% on June ,23. '
pany
On June 1.1913 there were, it is
stated, $16,859,500 of the notes outstanding, and this amount was increased by the 5.% call on June 23, and, will
be
f^her increased by the 5% call just made.
- '
The Utah Power & Light and other subsidiaries are
showing good gains in
earnings, and although the project is still largely in the nature of a cori-
California,
in Central
comprising
w. hours per month are being generated and distributed to
12,750 customers, an increase in customers from 4,200 in Jan. 1912.
comprises the Great Western Power Co., California Electric
Generating Co. and the City Electric Co., serving San Francisco and Oak¬
land arid a large number of other cities and towns situated in ten counties
of Central California (Compare V. 95, p. 1606; V. 96, p. 1843, 868).
28,000,000 k.
about
The system
(Official) Earnings of Western Power Co. and. Sub-Cos.
Year end. June 30 1913.
1912.
$1,231,780
earns—$2,538,126 $2,063,216 Bond int. & guar, civs
Net (after tax)$l,530,-359 $1,268,797 Int. on $1,250,000 notes—
75,000
Other income*
97,424
9,576
Balance, surplus.
;
$321,002
Gross inc-$l,627,782 $1,278,373!
Available income about 5 times the int. on total issue.—V. 95, p. 627-.
Combined
Year end. June30 1913-
Gross
_
,
Y.—Purchase.—
Treasurer Adam K. Luke confirms the report of the
company's purchase
of 10,000 acres of timber land on Gauley Mt., although the price
mentioned
account was not correct.The company will own this property
directly, and does not contemplate issuing any new securities of any kind
on account of same.
The company's paper mills, which have a daily ca¬
pacity of 900 tons, are located at Tyrone, Pa., Piedmont, W. Va.„ Luke,
Md., Davis, W. Va., Covington, Va., Mechanicville, N. Y., Williams¬
burg, Pa., Cass, W. Va;, and Spruce, W. Va.
in the press
Western
12 months
Union Telegraph Co.—Earnings—-For 3 and
ending June 30 (partly estimated in 1913):
Net
Cross
3 Mos.—
1913
1912
—
Income.
(See below)
$11,824,200 $1,112,366
LI,207,526
1,144,207
Actual
■
Bond
Interest.
$334,310
367,628
Dividends.
(H%)$748,056
(U%) 748,005
1913.
1913.
1912.
$
$
$30,000
28,574
Oper. expense,
Total inc.—
4,088,636
6,561,868
Bond interest-
1,225,793
1,558,985
2,742,811
2,742,487
120,032
2,260,396
.
rent, &c_—30,808,463
Current maint 3,259,565
26,113,616
3,375,033
1,832,264
-
-
Other income.
5,377,869
1,183,999
Expenses—
Depr.& recon.
1912.
*
$
3,196,514
892,122
.41,562,075 36,986,814 Net earnings-
3,045,415
617,649 Dividends
922,500
Total exp—38,365,561
•—V. 96, p.
Balance,
Surplus,
Earnings—Detailed Statement for 11 Mos. ending May 31.
earns.
Taxes
Sales—
Sales—
1913.
1913,
1912.
January.....$1,436,498 $1,316,768 April-—:.—$1,587,7:
March...
electric properties
extensive
fenefatingp. is hydro-electric and 43,000capacity of 98,000 h. p.. of which
5,000 h. stations with a present installed steam.
In these stations over
Gross
Co., Los Angeles.—Dividend Period—The
dividend period, it is stated, will henceforth be quarterly in¬
stead of monthly, but, it is understood, with no change in
the
—
Security at Par $2,082,000 (at Market Prices about 25% More).
Great Western Power Co. 1st M. 5% bonds, due 1946 (V. 92> p.
1438: V. 96, p. 1865)
_$849,000
City Electric Co. 1st M. 5s, due 1937 (V. 96, p. 205; V. 93, p. 668) 533,000
California Electric Generating Co. 6% cum. pref: stock, guar, as to
dividends by Great Western Power Co. (V. 88, p. 688)700,000
Collateral may be withdrawn only in case a proportionate amount of
to-the plan in V. 96, p. 1633, so that substantially the entire share capital
Is now Owned by the Columbia Gas & Electric Co.
Compare V". 96, p. 1706
1633.
—
Collateral
West Virginia Pulp & Paper Co., N.
The directors wish to advise the stockholders of this company that,in
final action.
July 18 1913 and due July 18 1915.
Red. on any int.
days' notice at 101 and int.
Prin. and int.
(J. & J. 18) at office or agency in N. Y. City. Par $500 and
$1,000.
Bankers Trust Co., N. Y., trustee.
Circular says:
date
July 21 announced:
accordance with the terms of the lease, the Union Gas & Electric Co. has
made an additional payment of $400,000 cash into the guaranty fund,
xcvn.
strhcflbxi prbpbsitlbn, fixed' chargfes are1, it'is said, belngpracticalfy, earned'
from operation of existing plants. >. For the 12 mos. ended June 30 1913,
gross earnings of Utah Power & Light Were $1,543,212, an increase of 4%
over the preceding year, and net earnings $875,091, an increase of 7 %! over
earnings of the combined properties for the 12 mos^ ended Jtine 30' 1912.—
V. 96, p. 1845.
V
operates
—
The Idaho Supreme Court on July 5 affirmed the judgment of Judge
Walters of the Fourth District, who declined to grant an injunction at the
[Voi.
31,608,944
Surplus.
1707.
Willys-Overland Co,—Extra Dividend.—
An extra
dividend of 5% has been declared on thel$20,000,000 stock,
payable Aug. 10 to holders of record July 11.
Regular quarterly dividends
of 1 Vx % were paid on Feb. 1 and May 1 and a disbursement of the same
amount has been declared payable Aug. 1.—V. 96, p. 366, 210.
Wilson Distilling Co. (of N. J.}.—Stock Decrease.—
N. J. on July 3 of a decrease in the authorized capital
Notice was filed in
stock fironl
$4,500,000 to $1,375,000, the pref. stock authorized and issued
having been reduced from $1,000,000 to $625,000,
mon stock from $3,500,000 to $750,000, par of all
Elife;
Sec., R. E. L.
and the authorized ccmshares.
Pres., Herman
Berger.—V. 84, p. 808; V. 88, p. 383.
"Washington Securities," a year¬
other information concerning the se¬
curities listed on the Washington, D. G., Stock Exchange,
is now ready for delivery.
This useful annual is edited by
Eugene E. Thompson of Crane, Parris & Co., and includes
a
complete and concise description of all Washington se¬
curities, with a monthly record of sales and range of prices
since Jan. 1 1907 of all bonds and stocks traded on the Wash¬
—The 1913 edition of
book of statistics and
ington Stock Exchange.
Price
Eugene E. Thompson, 60414th St.
$2 per copy. Address
N. W., Washington, D. C.
—Edward B.Smith & Co., Philadelphia and New York,
have
just published a brief illustrated history of the J. G.
connection with a statement of the investment
Brill Co. in
position of the pref. stock. The Brill Company is said to
be the largest manufacturer of electrically-propelled cars
and trucks in the world.
—Boettcher, Porter & Co., Denver, have issued a circular,
regarding the 7% stock of the Mountain States (Bell) Tele¬
phone & Telegraph Co., an unbonded company which fur¬
nishes telephone service to Colorado, Utah, Idaho/Montana,
Wyoming, New Mexico, Arizona and part of Texas.
^olff & Stanley, 27 William St., have issued a circular
Hudson & Manhattan readjustment of debt.
on
,
JULY
26
243
CHRONICLE
THE
1913.]
COTTON.
^Itc (frommzxtml
telegrams from the South to-night, is given below.
For the;
week ending this evening the total receipts have reached
18,042 bales, against 20,061 bales last week and 21,448
bales the previous week, making the total receipts since
COMMERCIAL EPITOME.
Friday Nighty July 25 1913.
Tradevis
without
not
some
Friday Night, July 25 1913.
THE CROP, as indicated by our
THE MOVEMENT OF
appearance
of midsummer
Yet bank exchanges are larger than those for the
week last year.
The same is true of railroad earnings.
quiet.
against 11,463,481 bales for the
Sept. 1 1912 9,489,688 bales,
same
same
But for the time being conserva¬
hopeful.
The undertone is
of
The question of tariff revision is not
certain unfavorable influence;
but money is
tism is very apparent.
without
a
The indications point
somewhat easier.
wheat
wheat.
Collections
despite
to a high-record
somewhat slow.
are
season are
not
■--mm—
526
Pensacola
—
—
—
—
—
132
'm
^m—T—
—
The Mexican question is becoming more
150
important.
;
DAILY CLOSING PRICES OF LARD FUTURES
Sat.
Mon.
Tues.
Wed.
July delivery—_._cts_ 11.77*$
September delivery
11.87*$
October delivery
11.95
January delivery._____ 10.70
3
New York-...—
'
-
mm*
mm
—
.
—
—
—
r-
681
v
.
!
— —
mm-
.
mi
Receipts to
July 25.
Since
This
*.
...
—-
.
3,206 [; 18,042'
[•;
2,069
total
with
•
V?
Galveston
Texas
■'
City
Pass,&c_
Orleans
New
££5O O
E0
a
1
•, 1
1
1
.
'I.
1
"312
0
Pensacola
—
Savannah
r
Brunswick
t
Charleston
V
_
9.81@9.82
PETROLEUM steady;
barrels 8.70@9.70c.; bulk5@6c.;
Pennsylvania crude $2 @$2 50; Kansas and
Oklahoma 98cCorsicana, Tex., 80@95c.;
North Lima
$1 89;
South Lima $1 34; Indiana $1 34; Illinois $1 30.
Naphtha firm; 73 to 76. degrees, in 100-gallon drums, 25c.;
drums $8 50 extra.
Gasoline, 86 degrees, 29%c.J 74 to 76
degrees* 25%c.; 68 to 70 degrees, 2234c., and stove, 21c.
Spirits of turpentine 39@39%c.
Common to good strained
rosin $4 40.
\
.'»
.
striking changes have occurred in the
general situation.
The policy of most buyers has still been
to purchase only as their immediate
needs demand.
At
the same time prices have been generally steady as supplies
of both filler and binder are anything but excessive.
For
Sumatra and Cuban tobacco there is a moderate demand.
;
—
----
-
'
m±mm'——~
"2,899
.
Vj
I
■
35,153
*.
1,035
—
—
1404,363
413,928
466
■
112
370
2,988
mm —
352
4,842
;
10,165
15,061
-
—
90
,
■rnm.'+mm-
33,645
6,387
4,130
'
122,775
f
•'
•
722
1,169
547,859 i;
748,178
38,486
6,773
62,767
—
24,422
1,837
-
—im
485
2,375,191
•
1 1
1,596
-
20,733
•
1
-
—
32,143 I
:
L
1,448
20,405
—
—
—
—
—
—
132,128
5,093
2,743
892
2,785
164,073
256,508
«
'
12,478 11463481
18,042 9,489,688
comparison may be made with other years;
give below the totals at leading ports for six seasons:
In order that
we
'
19131
Receipts at-
1910.
1911.
1912.
"
1908.
1909.
6,167
3,410
"¥,583
¥.565
513
.20
516
299
819
2,590
653
1,448
2,072
2,233
"'744
"""32
2,613
2,885
New Orleans.
2",946
"5,358
MobileSavannah
2,930
398
TexasCity,&c.
312
t
Brunswick
—
*
—
U
"402
Charleston,&c
'
—
"
.
1
115
I
6,271
439
N'port N.f &c
All others
681
471
""948
'"499
"37179
251
Total this wk.
18,042
12,478
7,990
20,730
14,197
Since Sept. 1. 9,489,688
*"•285
158
17
361
1,596
2,285
6 ,629
......
21
Wilmington..
Norfolk
15,143
'2,543
7,994
Galveston
•/
748
388
659
26,759'
11463481 8,395,695 7,244,100 9,788,577 8,220,126
for the week ending this evening reach a total
bales, of which 6,412 were to Great Britain,
856 to France and 15,486 to the rest of the Continent.
Below are .the exports for the week and since Sept. 11912:
The exports
of 22,754
From Sept.
Week ending July 25 1913.
'
Exported to—
1 1912 to July 25 1913V
Exported to—
Exports:
i
Conti¬
Britain .France.
nent.
Great
from—
Galveston
Texas
City.
5,6371,312,606
....!
At. Pass,&c.
838
3",366
4,204
1,000
"276
1,276
3,025
6",859
New Orl'ns.. '
Mobile
....
Pensacola.
_
Savannah..'
Brunswick V
Charleston
_
Wilmington
Norfolk
N'p't
Britain.
....
Port Arthur
—
•
406,308
31,480
12,921
739,523
60,266
24,345
133,718
111,236
73,367
106,043
16,614
Boston
856
"666
2",951
3,617
930
930
325,528
148,292
8,453
53,981
Fran..
~23i
Pt. Towns'd
231
Portl'd,Ore.
Total
...
Tot. 1911-12
Total.
291
54,108
"3",350
209,586
10,170
55,691
8,130
589,222
262,767
104,279
3,716
6,412
856
15,486
8,553i
351
5,547
Note.—N. Y. exports since Sept.
22,754 3,565,479
158,462
67,494
62,111
507
507
Portl'd, Me.
San
nent.
390,643 1,423,616 3,126,865
639,042
85,941
146,793
138,642
79,213
27,949
.37,575
8,606
16,048
444,779 1,331,818
147,516
142,950
57,122
25,662
65,963
125,099
34,791
632,337
829,324
63,269
100,328
211,564
"5",000 150,111 228,478
317,831
152,115
59,673
500
71,936
54,822
262", 767
2~978
....
.
France.
291
News
York.
Conti¬
Great
(
Total.
5,637
_
Philadel'a..
rise in
2,103
«.
381,419
215,979 \
50,419 r
Umim-m.
75,603
7,595 !'
•
Totals.
Baltimore.
by greater activity at home and abroad.
Lake 14%; electrolytic 14%@14%c.
Tin on the spot was
stronger at 41 %c. but reacted to 40.85c.
Singapore prices
higher.
Lead here on the spot 4.35c.; spelter 5.35c. Pig
iron $14.50@$15 for No. 2 Eastern with No. 2 Southern
$10.50@$11; demand fair. " Structural steel is in moderate
demand so far as new business is concerned; competition is
sharp for new contracts.
Bar iron has been quiet at $1.50@
$1.55 at tidewater for common.
Coke firm; old material
weak._ There are no striking features in any branch of the
iron and steel trade just now.
<
'm*
45.626
51
262
Baltimore
New
this country
'513
116,757
15,300
58
Boston
66,845
,
342,605
539,293
681
York
11 @12c.
TOBACCO.—No
79,526
5,358 1,650,884
;l
110
■
2i
N'port News, &c_
9-80@9.81
225*849
2,285
Norfolk
Philadelphia
200.569
124,899
15,458
2,930 1,278,499
234,334
V40? < 306,474
Georgetown.
Wilmington.
New
f
27,460
32,866
-
'•
100
Jacksonville, &c_
-
-
1912.
1913.
1 1911.
;
2,613 3,506,895
586,468
—
—
Aransas
Week.
1 1912.
7,994 3,805,026
'—.mm
666,875
138,642
123,523
2,946 1,427,220
-
Port Arthur
Stock.
Since Sep
ThiS
Sep
'
Week.
9-70@9.71
9.75@9.76
May
June.
51
•262
262
1911-12.
1912-13.
11 80
10-60
March..
April
58
-----
....
3,133
4,902
f
mm- —
!
1''
mm-
W
21
2,285'
681
468
33
— —
3,320
1,412
—
^
_
'
?
21
37
m — „
«.
....
...
-
-
-
''
18
'mm,
mJmm
•
.
10
8
120
766
■
-
-
402
93
4
----
—
-
"
m—mm'
'
4'
—
11.75
quiet
but
steady. Centrifugal, 96degrees test, 3.57c.; muscovado, 89-degrees test, 3.07c.;
molasses, 89-degrees test, 2.82c.
The stock in the United
States and Cuba is 794,548 tons, against 872,086 tons a week
ago and 588,059 tons last year.
The stock in Europe is
1,846,000 tons, against 1,277,000 tons a year ago.
Refined
quiet and steady at 4.60c. for granulated.
-
fm
—
mm
following shows the week's total receipts, the
1 1912, and the stocks to-night, compared
The
SUGAR.—Raw
London accompanied
—
•
since Sept.
last year:
quantity of free coffee is considerably larger
in this country than a year ago, as there is no valorization
coffee.
Opinions differ as to whether the final turn for the
better has been reached in coffee prices or not.
To-day
prices ended unchanged to 3 points lower.
Closing prices were as follows:
COPPER has been rather firmer in response to a
—
Philadelphia
The
Connecticut needs rain, but the crop prospects in
on the whole are said to be favorable.
>
mm.—
2,930
— —
■
—
279
'-.w-w
.
—
—
Totals this week.
heavy sales to realize profits, which caused reactions.
In¬
terior receipts, according to Brazilian advices, have latterly
cases
—
■
— -
51
100'
25
353
"
—
503
mm.
11.70
$23.25@$23.75; clear $20.75@$22.50;
family $25 @$26.
Beef firm; mess $19@$20; packet $21 @
$22; family $22 @$24; extra India mess $31 @$32. Cut meats
steady; pickled hams, 10to20lbs., 16%@17%.c.; bellies clear
f.o.b* New York 6 to 12 lbs., 151^@18%c.
Butter, cream¬
ery extras 26 % @27c.
Cheese, State whole milk fresh colored
specials 14%@14%c.
Eggs, fresh gathered extras 24@26c.
OILS.—Linseed steady; City raw American seed 50c@5lc;
boiled 51 @52c.; Calcutta 70c.
Cottonseed oil stronger;
winter 9.05c.; summer white 9.65c.
Cocoanut oil stronger;
Cochin 13@13 Kc.; Ceylon 11% @12c.; Chinawood in good
demand at 7%@7%c.
Corn higher at 6.50@6.55c. Cod
steady at 38 @40c.
'.
"/■' '-v,*:
V
COFFEE has been firmer but quiet; No. 7 Rio 9%@9%c.;
mild grades quiet; fair to good Cucuta ll@ll%c.
Futures
have been more active and irregular at times, advancing in
response to a rise in foreign markets and large buying both
at home and abroad.
But on advances there have been
July..—
!9.06@9.081November.__9.40@9.42
August...._9.06@9.08 December
9.49(^9.50
September —9.22@9.24 January ....9.56(3)9.58
October
9.31 @9.331 February .—9.63(^9.65
—
■
—
-
PORK steady; mess
increased.
—
561
"
•
Baltimore
Fri:.
Thurs.
J
■\
Boston
IN CHICAGO.
11-87*$ 11-82*$ 11.77*$ 11-80
11.95
11.87*$ 11.85
11.85
12.00
11.95
11.90
11.90
10.75
10.72*$ 10.70
10.72*$
—
312
•
---mm.
91
N'port News, &c
prime Western 12c.; refined for the
Continent $12 40; for South America $12 95 and for Brazil
$13 95.
Lard futures have at times exhibited weakness,
with trading light.
At other times they have been firmer,
owing partly to good buying, led by packers.
To-day prices
declined, with hogs lower and heavy liquidation a feature
in provisions generally, not excepting lard.
LARD in fair demand;
Jmim
-
—
—
"25
'
Georgetown
Wilmington
mm
2,946
!
11
38
135 V.
mt
-
f
167
m —
mm-
;
-mm—
:
427
'
.82
Norfolk
r
2
—
---
-mm.
----
1,147
558
1,036
Brunswick
Charleston
mm
<
75
345
Savannah
1
443
122
236
7
Jacksonville, &c_
—
mm'--mC
----
mm mm
mm
—
.7,994
■"*mim—m
mm-m-
—
mm--
--
mm
*
time last year.
'
«
-
-
m
—
'
Mobile
A large export business is
—
Total.
1,136
■
«*
New Orleans
in wheat.
„
915
995
-
Aransas Pass, &c
The total exports thus far this
far from double what they were in the same
still being done
-
Arthur
Port
Fri;
Thurs.
Wed.
;
\
3,468
907
573
City
Texas
some
iTues:
Mon.
Sat.
Receipts at—
Galveston
decrease in the yield of spring
Metals have been stronger.
Building is less active.
crop,
period of 1911-12, showing a decrease since Sept. 11912
1,973,793 bales.
•
104,279
3,716
975,202 3,909,292 8,449,973
14,431 4,211,763:1,161,518:4,986,066il0359 347
1 include 20,731 bales Peru, &c., to Liverpool, Ac.
telegrams to-night also
the following amounts of cotton on shipboard, not
cleared,, at the ports named.
We add similar figures for
In addition to above exports, our
give
us
New York.
CHRONICLE
THE
34:4:
On
Ger¬
Foreign
wise.
Leaving
Coast¬
many.
Britain. France.
July 25 at—
Other
452
"15
Galveston
Savannah
Charleston
Mobile
"199
10,000
2,100
1,050
30,033
37,470
14,633
134,040
219,038
140,105
789
"184
Norfolk
'200
Other ports.
Total 1913.
Total 1912..
Total 1911-1.
■-
.
"400
i.Boo
150
New York
700
200
1,258
6,094
10,870
,6,770
'192
•6,860
10,542
986
5,798
833
987
10,825
18,042
2,079
7,732
8,952
part a weather market, but the sudden decline here on
Tuesday afternoon was mainly due to an unexpected drop of
45 points in July at New Orleans,
It was partly traceable,
however, to lower temperatures and some prospects of rain
in the Southwest.
There was then a low barometer in that
most
section that seemed to hold out hopes of the needed rains in
Texas and Oklahoma.
Advocates of higher prices, however,
by the activity in spot cotton in Liverpool,
the smallness of the stock here, the large spinners' takings,
the evidences of a good consumption at home and abroad and
by the firmness of cotton goods.
There are those who are
convinced that the world's consumption of American cotton
the coming season will reach 14,750,000 bales.
They are
far from convinced that the crop is going to reach the requi¬
site size.
They point to the reported smallness of the plant
in many sections.
It is said to be one to two weeks late over
a large area of the belt, and there have been complaints of
boll weevil in some sections, notably in Mississippi, but also
in Texas.
It is pointed out, too, that often in the past the
worst depredations by boll weevils have occurred in August.
As July has been hot and dry, some are inclined to believe
that August may, by an atmospheric reaction, have cooler
and wet conditions, which would be apt to aggravate any
latent danger from pests of all sorts.
However this may be,
the weather has recently been, for one cause or another, a
bullish factor.
It was declared to be too hot and dry.
This
fact has had more or less effect, despite numerous reports
which are certainly in harmony with experience in the past,
that the high temperatures—they have been 100 to 109 in
parts of the belt—have kept down the boll weevils v. The
last weekly Government weather report stated that rain was
needed in Texas, Oklahoma, Arkansas, Tennessee and South
Carolina.
Wall Street and the South at times have been buy¬
have been cheered
to the likelihood of the
being passed. Many feel
that it is so radical, so destructive of the interests of cotton
farmers themselves, in whose behalf it is offered, that it is
Finally,
ers.
some are
sceptical
as
Clark amendment to the Tariff Bill
foredoomed to defeat. The bill would prevent hedging and the
or could not hedge would become a spec¬
merchant who did not
Week.
July—
12.17-.21 12.14-.20 12.15-.22 12.03-.16 11.83-.02 11.73-.85 11.73-.22
12.21-.22 12.16-.17 12.15-.16 12.04-.05 11.86-.87 11.81-.83
Range
Closing
Aug.—
12.12-.15 12.05-.09 12.00-.07 11.98-.02 11.58-.85 11.50-.67 11.50~.15
12.14-.16.12.05-.06 12.01-.02 11.89-.90 11.62~.63 11.62-.63
Range
Closing
Sept.—
Range
11.82-.84 11.76-.77 11.69-.79 11.58-.68 11.41-.60 11.27-.42 11.27-.84
Closing
11.84-.86 11.72-.74 11.67-.69 11.57-.59 11.43-.45 11.38-.40
Oct.—
11.57-.65 11.52-.57 11.44-.57 11.36-.48 11.23-.41 11.20-.32 11.20-.65
11.64-.65 11.52-.53 11.45-.46 11.36-.37 11.30-.31 11.29-.30
Range
Speculation in cotton for future delivery has been slow and
prices have fluctuated within rather narrow limits.
Values
at times have shown decided weakness. / It has been for the
July 21.
July 19.
Friday,
July 25.
Tuesday, Wed'day, Thursd'y,
July 22.
July 23.
July 24.
Saturday, Monday,
24,411
23,914
20,733
1,837
2,700
5,061
31,544
23,839
21
3,673
5,497
2,328
2,666
1,258
lowest and closing prices at
week have been as follows:
New York the past
Stock.
Total.
10,000
Ndw Orleans..
xcvh.
FUTURES.—The highest,
Shipboard, Not Cleared for—
Great
[Vol.
Closing.
...
Nov.—
11.33
1.
Range
—
11.20
11.20-.33
—
11.55-.57 11.45-.47 11.38-.40 11.28-.30 11.22~.24 11.22-.24
Closing
Dec.—
Range
11.48-.57 11.43-.50 11.38-.50 11.29-.41 11.17-.35 11.15~.25 11.15-.57
Closing
U.56-.57.11.46-.47
11.39-.40 11.29-.30 11.23-.24 11.23^.24
Jan
Range
11.41-.49 11.37-.44 11.32-.44 11.23-.36 11.10-.29 11.07-.18 11.07-.49
Closing
11.48-.49111.40-.41 11.33-.34 11.24-.25 11.16-.17 11.17-.18
Feb.—
11.11-.15 11.11-.15
Range
11.49-.50 11.41-.43 11.34-.36 11.25-.26 11.17-.19 11.18-.20
Closing
March—
li.41-.50
11.31-.43 11.20-.38 11.18-28 11.18-.57
Range.....
11.50-.57 11.45-.50
Closing.
11.56-.58 11.42-.49 11.41-.42 11.31-.32 11.25-.26 11.27-.28
...
April—
Range.
—
....
@
—
Closing
May—
11.53
Range.__r.
—
11.38- .46 11.30-.38 11.20-.28 11.20-.53
11.60-.61 11.51-.53 11.43-.45 11.33-.35 11.28-.30 11.29-.31
Closing
June—
@
—
Range
—
Closing
THE VISIBLE SUPPLY OF COTTON
to-night, as made
by cable and telegraph, is as follows.
Foreign stocks,
as well as the afloat, are this week's returns, and conse¬
quently all foreign figures are brought down to Thursday
evening.
But to make the total the complete figures for
to-night (Friday), we add the item of exports from the
United States, including in it the exports of Friday only.
up
1910.
439.000
18,000
61,000
6,000
39,000
641,000
V
10,000
65,000
484,000
14,000
130,000
111,000
3,000
1912.
841.000
5,000
46.000
6,000
91,000
843,000
15,000
241,000
938,000
7,000
321,000
170,000
3,000
12,000
17,000
13,000
462,000
543,000
242,000
304,000
1,305,000 1,481,000
88,000
144,000
883,000
788,000
90,000
bales.
Stock at London-
Stock at Manchester-
J
.
Total Great Britain stock
Stock at Hamburg
Stock at Bremen
Stock at Havre
142,000
3,000
16,000
23.000
J_.
-
Stock at Marseilles
Stock at Barcelona
Stock at Genoa
Stock at Trieste
ental stocks
Total
1911.
562,000
1913.
792,000
22,000
July 25—
Liverpool
Stock at
.
Total European stocks__
India cotton afloat for Europe
'
'■
117,000
2,000
20,000
19,000
9,000
93,434
15,000
64,000
549,000
256,508
110,503
1,880
2, 770,943 2,659,325
20,000
9.000
90,000
47,719
21,000
76,000
498,000
154,738
96,276
1,383
1,868,116
Amer. cotton afloat for Europe.-
80,101
Egypt, Brazil,(Sec.,aflt.for Europe.
23,000
Stock in Alexandria, Egypt
Stock in Bombay, India.
97,000
799,000
Stock in U. S. ports
Stock in U, S. interior towns
164.073
158,015
U. S. exports to-day
754
17,000
V
60,626
14,000
58,000
565,000
273,005
70,037
ulator of the most reckless
kind, and would assuredly be eyed
askance by banks everywhere. As it is a punitive measure,
not a revenue measure since it practically prohibits trading,
jn futures the claim that it would produce $7,000,000 of
revenue annually is scouted as absurd oh its face.
On the
other hand, however, the threat of such legislation aiming
at the destruction of the machinery of a vast business designed
to facilitate the distribution of the cotton crop has had a
noticeable effect.
Trading has been cut down.
Prices
have been held back.
There
can
be little doubt that the
prolonged dry, hot period both east and west of the Missis¬
sippi and especially in the Southwest would have had a far
more pronounced
effect in favor of better prices recently
if the market had not been in a sense stunned by a fear of such
a calamity as
that provided by the project to tax cotton
futures one-tenth of a cent per pound where actual delivery
is not made and thus throw the cotton trade in this country
back more than half a century and hand over the business
in
"futures" to Liverpool, Bremen and Havre.
Latterly,
too, the fall of needed rains in the eastern belt and some
precipitation west of the Mississippi has had a more or less
depressing effect to say nothing of the collapse of the prices
of the July delivery in New York and New Orleans.
Many
of the orop reports too are very favorable.
In fact it would
seem to be a fact
that the crop prospects even conceding
that the season is somewhat late are in the main promising.
There has therefore been at times a good deal of selling for
New Orleans, Memphis and the South generally.
In two
days July at New Orleans fell 75 points, a fact which affected
prices here.
The sharp decline in July and August at
New York has been a feature and led to noticeable depression
in new crop months.
To-day prices declined and then rallied.
Texas was hot and is said to need more rain.
Spot cotton
closed at 12.05c. for middling uplands showing a decline
for the week of 35 points.
The official quotation for middling upland cotton in the
New York market each day for the past week has been:
July 19 to July 25—
Middling uplands
Sat.
Mon.
Tues.
12.40
12.40
12.40
Wed. Thurs.
totals of American and other descriptions are as
Of the above,
399,000
347.000
71.000
515,000
93,434
256,508
110,503
1,880
45.000
193,000
47,719
154,738
96,276
1,383
31,000
243,000
60,626
273,005
70,037
1,443,943 1,758,325
Manchester stock
.
.
937,116
1,024,668
131,000
6,000
20,000
28,000
163,000
18,000
92.000
—
Continental stock.
80,101
164,073
158,015
754
American afloat for Europe
U. S. port
stocks....
stocks
to-day. „
U. S. interior
U. S. exports
Total American
East Indian,
Brazil, &c.—
Liverpool stock
192,000
5,000
16,000
51,000
144,000
23,000
—
88,000
15,000
64,000
549,000
498,000
6,000
8,000
61,000
90,000
14,000
58,000
565,000
901,000
1,785.325
931,000
937,116
894,000
1,024,668
Total visible supply
2,770^43 2,659,325 1,868,116
6.90d.
6.61d.
7.31d.
ool._
id, Lh
Middling Upland, Liverpc
13.50c.
12.05c.
13.00c.
Middling Upland, New York—_
Ing
1
10Hd.
lO.OOd.
HHd.
Egypt, Good Brown, Liverpool._
ll.OOd.
9.00d."
9.50d.
Peruvian, Rough Good, Liverpool
6 3-l6d.
6 9-16d.
6%d.
Broach, Fine, Liverpool.
6Md.
6'4d.. 6 U-16d.
Tinnevelly, Good, Liverpool—
1,918,668
London
stock
—
Manchester stock
—
Continental stock.
India afloat for Europe
_.—
Egypt, Brazil, &c., afloat..
Stock in Alexandria, Egypt...__
Stock in Bombay, India
97..000
799,000
_____
Total East India, &c_
.....l,327,000
Total American.
—
j_
1,443,943
1913.C
1912.
1911..
YORK* QUOTATION
12.05
...
.
13.00
1910—....15.75
1909—
12.50
1908—.
10.80
1907.
13.10
—
—
...
1906—,—.10.90
1905-C—
1904
1903—
1902
1901
1900
1899
1898
—
—
—
.11.40
.10.80
.13.50
9.00
...
—.
—
...
—
8.12
10.12
6.12
6.06
FOR
1897-C—
1896
1895—.
1894—
1893
...
—
—
...
—
32
Continental imports for the past week have
bales.
—
—
of 153,457
figures for 1913 show
bales,
1885
1884—.
...
1883
1882
—
—
10.31
11.00
-.10.00
—
.12.75
ll.OOd.
Itii:
7
been 41,000
a
t
decrease from last week
a
gain of 111,618 bales
over
1912, an excess
902,827 bales over 1911 and a gain of 852,275 bales over
of
1910.
MARKET AND SALES AT NEW YORK.
of cotton on the spot each day during the
York are indicated in the following statement.
For the convenience of the reader we also add columns which
show at a glance how the market for spot and futures closed
The total sales
week at New
on
same
days.
SALES.
Futures
Spot Market
Saturday—
Monday
Tuesday —,
Wednesday
.
....
8.06
—
1892—
7.25
1891
8.00
1890
-.12.25
8.16d.
15.35c.
13 5-16d.
;
.
The above
Market
Closed.
YEARS.
7.94 1889.C— ...11.25
10.69
7.19 1888
.10.38
•7.00 -1887—
9.56
7.00 1886
76,000
,
Closed.
NEW
16,000
49,000
90,000
21,000
.
12.05
12.15
1,918,668
follows:
710,000
600,000
30,000
411,000
-bales.
Liverpool stock
Fri.
12.40
Total visible supply.
American—
Thursday
Friday.
Quiet
Quiet...
Quiet..
Quiet, 5 pts. dec
Quiet, 20 pts. dec._
Quiet, 10 pts. dec..
Spot.
Firm
Total.
Contract
...
.Steady
...
Steady
l",306
1",306
•_
Steady
Steady
Steady
hp — — —
,
"400
•
'400
"800
'
Total..
400
..
1,700
2,100
immmmt*
JxTLY 26
AT THE INTERIOR
receipts for the week and since Sept. 1, the shipments for
the week and the stocks to-night, and the same items for the
the
corresponding period for the previous year—is set out in
MIDDLING
FOR
QUOTATIONS
movement—that is,
TOWNS the
445
CHRONICLE
THE
1913.]
OTHER MARKETS.—Below
COTTON
AT
the closing quotations
of middling cotton at Southern and other principal cotton
markets for each day of the week.
are
detail below.
Closing Qoutations for Middling Cotton
Movement to July
July 25 1913.
Movement to
Sat'day.
July 25.
Ship?-
July
Week.
Receipts.
•
26.
Tuesday. Wed'day. Thursd'y.
Monday.
Friday.
Stocks
ments.
Stocks
Ship¬
Receipts.
Towns.
on-
Week ending
26 1912.
12%
12 5-16
Week.
Ala., Eufaula..
257
Selma
Ark., Helena.
_
"34
Rock..
Little
Ga., Albany...
158
Athens
1,241
Atlanta
536
Augusta
50
Columbus
Macon
2
j.-
95
185
51,867
140,962
27,652
49,327
108,937
58,628
18,131
29,353
22,476
567,184
11,357
2,248
Mlss.,Columb's
Greenville
Greenwood—
"i90
Meridian'
Natchez
Vlcksburg
Yazoo
m-m «■» «.
Clty..
U80
Mo., St. Louis.
N.C., Raleigh.
O., Cincinnati.
Okla., Hugo*..
S.G., Greenw'd
Tenn.,Memphis
_
Nashville
Tex.,
798
3
12
12
3,360
4,266
248
242
757
92
195,557
144,918
70,588
211,509
21
....
30
Brenham
Clarksville
""50
Dallas
Honey Grove.
J
Paris
13,807 7,142,157
Total, 33 towns
♦Last year's
700
„
368
2,315
121
323
130
334
1,238
7,243
1,658
12,067
7,886
3,625
3,765
575
723
174
»
■»
**
•
-
-
99
535
210
90
19
8
138
500
1,500
469
3,200
A
277
744
176
.
4,190
9
2,200
13,844
—
-
-
-
637
150
105
195
652
24,918
2,118
•
-
-
42
-
5,600
1,792
19,980
14
376
2
266
18
—
*
-
55
-
-
2,786
-
2,500
50
M«p
•
-
_
w-
•
-
•
-
~
1,085
33,137
5,871
150
30,288
654,613
23,963
282,838
8,309
17,173
966,074
7,357
17,393
54,773
98,650
50,664
3,015,963
167,016
8.565 7,788,690
29,401 158,015
23,164
150
768
-
•
-
68
MOVEMENT
FOR
THE
79
25
-
•
17
500
—
350
•
-
2,543
885
-
-
311
413
2,926
6,637
225
113
1,431
22,482
52
90
'
•
-
•
1,314
-
4,388
11,314
12
19
22
184
4,230
20,075
«•»««*
*•
.........
18,268 110,503
WEEK AND
from telegraphic reports Friday night. The results for the
last two years are as follows:
week and since Sept. 1 in the
1911-12
Since
1912-13-
Since
JUly 25
Shipped—
Via St. Louis
...
Via Cairo
.
»
Via Rock
4,190
2,926
650,623
a246,786
8,458
244n 171,334
130,363
1,214
387
191,373
98
448,349
a695
228,830
440
295
79
90,447
131,373
142.851
384,603
5,572
Via Louisville
1,557,201
5,614
1,847,286
371
144,124
948
195,303
__
21,790
395
-
Via Virginia points
Via other routes, &c
•___
Total gross overland
Deduct Shipments—
.
50
"
Overland to N.
Y., Boston, &c__^
142
124,777
35
103,082
1,497
106,113
2,350
83,084
2,010
375,104
Between interior towns
Inland, Sec., from South
Total to be deducted
3,333
The foregoing shows the
381.469
2,281
3,562 1,182,187
♦Including movement by rail to Canada.^ a Revised.
Leaving total net overland*
1,465,817
week's net overland movement has
been 3,562 bales, against 2,281 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 283,630 bales.
——
1912-13
In
1911-12-—
3,562
1,182,187
Since
Week.
Sept. 1.
12,478 11,463.481
2,281
1,465,817
59,000
2,677,000
56,000
2,460,000
Total marketed—80,604
13,348,875
60,979
70,759
*9,703
15,389,298
10,066
Sight and Spinners'
Takings.
Receipts at ports to July 25.——
Net overland to July 25±
Southern consumption to July 25-
Interior stocks in
Week.
18,042
*15,594
excess--.-
Came into sight during week..
Total in sight July 25
65,010
North, spinners'takings to July 25
♦Decrease during week.
15,703
Since
•
Sept. 1.
9,489,688
Movement into sight in
2,417,704
—-
-
15,399.364
9,409
2,554,211
V
Bales.
ORLEANS
years.
Since Sept. 1—
Wi
Bales,
1910-11—July 28
1909-10—July 29—
1908-09—July 30
11,702,980
10,344,399
13,473,736
OPTION
MARKET.—The
highest*
lowest and closing quotations ?or leading options in the New
Orleans cotton market for the past week have been as follows:
Sat'day,
July 19.
Monday. Tuesday.
July 21.
July 22.
Wed'day. Thursd'y,
July 24.
July 23.
Friday.
July 25.
July—
Range
Closing
August—
Range
12.46-.49 12.39-.45 11.92-.37 11.70-.00 11.65-.69 11.69-.78
12.46-.48 12.37-.40 12.00-.0111.71-.75 11.50
11.75 —
Closing
12.05-.09 11.97-.00 11.94-.01 11.69-.95 11.53-.73 11.50-73
12.04-.05 11.99-.01 11.94-.95 11.70-.71 11.54-.55 11.64-.66
Sept.—
Range
Closing
11.41 —
11.60 •
11.62 — 11.44 ■
11.37 ■
11.66-.68 11.64-.66 11.55-.57 11.45-.47 11.37-.39 11.37-.39
October—
Range
Closing
11.60-.68 11.54-.59 11.50-.6011.40-.52 11.29-.47 11.26-.37
11.61-.62, 11.59 — 11.50-.51 11.41-.42 11.34-.35 11.32-.33
Nov.—
Range
11.60
Closing
11.58-.60,11.56-.58 11.48-.49 11.38-.40 11.31-.33 11.30-.32
—
Dec.—
Range
Closing
11.58-.66 11.51-.57 11.48-.58 11.37-.50 11.28-.45 11.24-.34
11.59-.60 11.56-.57 ll.48-.49.il.38-.39 11.32-.33 11.30-.31
Jan.—
Range
Closing
11.60-67 11.54-.57 11.50-.60 11.40-.51 11.30-.46 11.26-.36
11.60-.61 11.68-.59 11.50-.51 11.41-.42 11.34-.35 11.32-.33
March—
Range
Closing
May—
Range
Closing
11.68-.74' 11.65
— 11.60-.68 11.48-.54 11.39-.52
11.40-.43
11.70-.71 11.67-.68 11.59-.61 11.48-.49 11.44-.45 11.40-.41
12
11%
12
12
12
12
12
—
12%
1234
12^
123^
12%
12%
12.65
12.65
12.65
12%
12.60
1234
12/4
12%
12%
12%
12%
12%
12%
Wilmington
Norfolk
Baltimore
—
Philadelphia
...
Augusta
Memphis
11.65-.6J
Quiet
Steady
*1
Quiet
Steady
Quiet
Steady
11.53-.55 ll.48-.50 11.45-.47
Easy
Steady
,
■'
—
—
_
12%
12%
12%
12.40
12^
12 5-16
12 5-16
12 5-16
12 5-16
llltl6
Houston
12 3-16
12 3-16
12 3-16
12 1-16
11
Little Rock
12
12
12
12
12
St.
Louis
„
15-16
12%
12%
12.30
12%
12%
12 5-16
11 15-16
12
WEATHER REPORTS BY TELEGRAPH.—Reports to
us
by telegraph from the South
this evening indicate that
the cotton belt there have been
beneficial rains during the week, and the crop, on the whole,
is stated to be in fine condition.
In Southern and Central
over
greater part of
the
claimed that moisture is needed within
insure a normal yield.
Galveston, Tex.—South and Central Texas require rain
within seven to ten days to ensure a normal crop.
If it does
not come, the plant is apt to suffer materially and bolls
open prematurely.
North Texas had good rains the latter
part of the week.
Rain has fallen here on two days of the
week, to the extent of one inch and seventeen hundredths.
Average thermometer 87, highest 99, lowest 74.
Abilene, Tex.—We have had rain on two days during the
week, the rainfall being twenty-four hundredths of an inch.
Texas, however, it is
the next
Lowest
to ten days to
seven
thermometer 66.
Brenham, Tex.—There has been no rain during the week.
The thermometer has averaged 87, ranging from 72 to 102.
Cuero, Tex.—We have had no rain during the week.
ranged from 70 to 100, averaging 85.
The
thermometer has
Tex.—We have had rain on one day during the
past week, the rainfall being forty hundredths of an inch.
Average thermometer 86, highest 104 and lowest 68.
Henrietta, Tex.—We have had rain on one day of the week,
fifty-four hundredths of an inch.. The ther¬
averaged 86, the highest being 106 and the low¬
to the extent of
mometer has
est 66.
1
8
Tex.—We have had
Huntsville,
no
rain the past week.
The thermometer has averaged 85, ranging from 68 to 102.
Kerrville, Tex.—There has been light rain on one day dur¬
ing the week, to the extent of fourteen hundredths of an inch.
The thermometer has ranged from 64 to 98, averaging 81.
Lampasas, Tex.—We have had no rain during the past
week.
Average thermometer 86, highest 106, lowest 66.
Longview, Tex.—We have had rain on one day during the
week, the precipitation being seventy hundredths of an inch.
The thermometer has averaged 86, the highest being 102
and the lowest 70.
rain during the week.
The
ranging from 72 to 102.
Nacogdoches, Tex.—We have had no rain during the week.
The thermometer has ranged from 66 to 96, averaging 81.
Palestine, Tex.—Rain (showers) has fallen on one day of
the week, to the extent of two hundredths of an inch.
Aver¬
age thermometer 83, highest 100, lowest 66.
Paris, Tex.—We have had rain (shower) on one day of the
week, to the extent of two hundredths of an inch.
The ther¬
mometer has averaged 85, the highest being 102 and the low¬
Luting, Tex.—We have had
no
thermometer has averaged 87,
est 68.
■
Antonio, Tex.—We have had no rain during the week.
The thermometer has averaged 86, ranging from 72 to 100.
Taylor, Tex.—We have had no rain during the week. Low¬
est thermometer 70.
.
Quiet
Steady
Quiet
Steady
'
-
•
Weatherford, Tex.—We have had good rain on one day
during the past week, the rainfall being one inch and four
hundredths.
Average thermometer 86, highest 102 and
lowest 70.
;»
Ardmore, Okla.—We have had rain on one day during the
week, the precipitation being eighty hundredths of an inch.
The thermometer has averaged 84, the highest being 107 and
the
lowest 62.
Holdenville, Okla.—We have had no rain the past week.
The thermometer has averaged 83, ranging from 63 to 104.
Marlow, Okla.—We have had rain on two days during the
week, the rainfall being fifty-three hundredths of an mch.
The thermometer has ranged from 61 to 106, averaging 81.
Eldorado, Ark.—We have had rain on two days during the
past week, to the extent of one inch and twenty-four hun¬
dredths.
Average thermometer 82, highest 97, lowest 67.
Helena, Ark.—There has been rain on one day during the
week, the precipitation being ten hundredths of an mch.
The thermometer has averaged 78, the highest being 96 and
the lowest 60.
.
Little Rock, Ark.—There has been rain on three
the week, the rainfall reaching two inches and
hundredths.
*
days during
twenty-four
The thermometer has averaged 80, ranging
from 64 to 96.
Tone—
Spot-Options
12 1-16
12
12
San
previous
-44,517
43,163
54,071
Week—
1911—July 28
1910—July 29
1909—July 30
NEW
61,056
13,409,854
—_
12 1-16
12
12
Dallas,
Sept. 1.
148
25
Island-
Via Cincinnati
Week.
Sept. 1.
557,307
Week.
12 7-16
12
12
1,115
85
SINCE SEPT. 1.—We give below a statement showing the
overland movement for the week and since Sept. 1, as made
up
12 7-16
12
942
384
figures are for Louisville, Ky.
OVERLAND
ll¥-ie
Savannah
2,065
-
'
105,242
19,917
38,348
525
-
.
-
3,449
1,016
1,748
70,304
67,707
143,176
37,602
44,523
95,091
....
100
-
13
426
544,859
83,820
20
3,256
'
'
—
390
32,717
183,983
278,702
m m
1,667
1,827
3,360
3,337 3,292,542
151,138
Houston.
50
30
1
"257
'
30,200
20,481
814,549
7,843
17,866
43,835
132,810
45,137
«* m m «•
1,621
1
12,143
—
"763
New Orleans--.
Galveston
403
25,053
231,436
Rome
La., Shreveport
Season.
Weeki
111
»
21,198
159,968
119,618
41,643
181,410
23,961
107,290
164,294
337,046
75,221
36,797
2,550
Montgomery
25.
Week.
Season.
22
,
July
,
12%
12%
Mobile..
ments.
'
Alexandria, La.—There has been light rain on one day
during the week, to the extent of five hundredths of an inch.
The thermometer has ranged from 70 to 98, averaging 84.
246
CHRONICLE
THE
New
Orleans, La.—Rain has fallen on six days of the week,
sixty hundredths. Average
thermometer 85, highest 96, lowest 73.
Shreyevort, La.—We have had rain on odc day of the week,
the rainfall reaching five hundredths of an inch.
The ther¬
mometer has averaged 85, the highest being 100 and the
to the extent of two inches and
lowest 70.
[Vol.
xcvii.
♦Embraces receipts in Europe from Brazil, Smyrna, West Indies, &c.
it™8 total embraces the total estimated consumptionby Southern mills,
2,677,000 bales in 1912-13 and 2,460.000 bales in 1911-12—takings not
being available—and the aggregate amounts taken by N9rthern and foreign
spinners, 14.662,696 bales in 1912-13 and 15,743,257 bales in 1911-12, of
which 10,654,396 bales and 12,033,457 bales American.
~
INDIA COTTON MOVEMENT FROM ALL PORTS.
.
;
1912-13.
Columbus, Miss.—We have had rain on two days of the
past week, the rainfall being sixty-five hundredths of an inch.
The thermometer has averaged 83, ranging from 65 to 102.
•
Vicksburg, Miss.—It has rained on two days of the week,
rainfall being twenty-seven hundredths of an inch.
Average thermometer 82, highest 96 and lowest 69.
Mobile, Ala.—Frequent showers have been beneficial and
crops are in fine condition.
We have had rain on six days
of the week, to the extent of two inches and sixteen hun¬
dredths.
The thermometer has averaged 80, the highest
being 96 and the lowest 70.
Montgomery, Ala.—Rains very beneficial.
We have had
rain on four days during the week, to the extent of eighty-
1911-12.
•1910-11.;
July 24.
Since
Receipts at—
Week.
Bombay..
Since
Week.
Sept. 1.
12,000 2,670,000
Since
Sept. 1.
Week.
11,000 2,264,000
Sept. 1.
19,000 2,459,000
the
three hundredths of
The thermometer has aver¬
inch.
an
aged 81, ranging from 69 to 101.
Selma, Ala.—There has been rain on six days during the
week, the precipitation being sixty-eight hundredths of an
inch.
Thermometer has ranged from 71 to 97, averaging 81.
Augusta, Ga.—It has rained on three days of the week,
the rainfall being seventy-nine hundredths of an inch. Aver¬
age thermometer 86, highest 102 and lowest 70.
Savannah, Ga.—There has been rain on two days during
the week, the rainfall being
thre^ inches and seventy hun¬
dredths.
The thermometer has averaged 81, the highest
being 96 and the lowest 70.
•
Charleston, S. C.—Rain has fallen on three days during the
week, the rainfall being three inches and seventy-three hun¬
dredths.
The thermometer has ranged from 72 to 92, av¬
eraging 82.
Greenville, S. C.—We have had rain on four days of the
week, the rainfall being two inches and seventy-six hun¬
dredths.
Average thermometer 83, highest 100, lowest 66.
Spartanburg, S. C.—We have had rain on five days of the
past week, the rainfall reaching one inch and seventy-nitie
hundredths.
The thermometer has averaged 83, the highest
being 101 and the lowest 66,
Gainesville, Pla.—Rain has fallen on five days of the week,
the precipitation being two inches and eight hundredths.
The thermometer has averaged 82, ranging froih 68 to 95.
Madison, Fla.—We have had rain on six days during the
week.
The rainfall reached two inches and seventy-five
hundredths.
The thermometer has ranged from 72 to 97,
averaging 84.
*
Charlotte, N. C.—It has rained on three days of the week,
the rainfall being sixty-eight hundredths of an inch.
The
thermometer has averaged 80, the highest being 102 and the
.
„
t
„
For the Week.
Great
Conti-
Japan
Britain,
nent.
&China
1912-13-.
1,000
22,000
2,000
4,000
1,000
3,000
Britain.
Total.
Continent.
&
23,000
2,000
17,000 21,000
1910-11..
40,000
11,000
57,000
450,000
347,000
899,000
3,000
3,000
3,000
1911-12.,
Japan
China.
Total.
26,000
27,000
37,000
893,000 1,383,000
812,000 1,170,000
616,000 1,572,000
Calcutta—
1912-13..
1911-12..
2,000
6,000
1910-11..
33,000
26,000
62,000
56,000
69,000
19,000
Madras—
1912-13..
200
4,000
2,000
4,000
3,000
3,000
3,000
9,000
20,000
11,000
24,000
2,000
300
23,200
16,000
23,300
9,000
14,000
7.000
1,000 11,000
13,000 29,000
14,000
24,000
19,000
65,000
252,000
184,000
271,000
116,000
91,000
23,000
392,000
294,000
359,000
31,000
23,000
1,000 34,000
15,000 41,000
17,000 38,000
1911-12..
1910-11..
1,000
All others—
19ia-13__
1911-12..
1,000
2,000
1910-11..
7,000
.
Total all—
1912-13..
2,000
3,000
8,000
1911-12..
1910-11..
13,000
70,000 748,000 1,042,2001,860,200
36,000
569,000
931,000)1,536,000
134,000 1,231,000
658,3002,023,300
MANCHESTER
MARKET.—Our report received by
to-night from Manchester states that the market
continues quiet for both yarns and shirtings. The demand for
India is
improving.
We
give the prices for to-day
belbw and leave those for previous weeks of this and last'
year for comparison.
cable
1913.
1912.
8% lbs. Shirt¬
32«
ings, common
Cop
Corn
Mid.
Twist.
to
d.
d. s.
d.
32a
d.
8.
Cop
Twist.
Upl'»
finest.
d.
d.
'
8% lbs. Shirt¬
ings. common
to finest.
d.
d.
a.
Cot'n
Mid.
Upl'S
d.
8.
d.
June
10
13
@* 10%
10
6
2
@11
4%
6.67 9 %
@
2
@11 4%
@
@
10%
@
10% 6
4
10%
@
11
@
18
10%
10 %
11
11
25
9 15-16
«
@
6.70
10%
10%
10%
10%
@
6.79 9%
2
10%
10%
6.77 9%
2%
11 5
2% @11 5
10 %
20
27
6.75,911-16@
1%@11
2
@11
1%@11
1%@11
3
3
6.46
2
2
6.63
6.63
6.62
July
@
@11 6
@11 6
2
11
@10% 6
SHIPPING
9%
6,76 10
1%@11 5
1
@11 4%
6.69 10
6.61 10
2% @11 4
6.86
8
@ 10 13-16
@ 10 15-16
@ 10 15-16
7.07
@11 5
3%@11 5
4
@11 5
l-l(f @ 11
7.24
7.31
NEWS.—Shipments in detail:
-
:
.
NEW
'
.
YOR C—To Liverpool—July
Total bales.
)
,
23—Celtic, 2,608 upland, 165
2,773
856
Peru
To Havre—July
'
ALEXANDRIA RECEIPTS AND SHIPMENTS.
September 1.
Great
Bombay—
lowest 68.
Raleigh, N. C.—Rain has fallen on four days during the
week, the precipitation being ninety-six hundredths of an
inch.
The thermometer has ranged from 68 to 98, aver¬
aging 83.
.
,
Dyersburg, Tenn.—Rain has fallen on one day of the week,
to the extent of fifty hundredths of an inch.
Average ther¬
mometer 79, highest 97, lowest 61.
Memphis, Tenn.—We have had rain on one day during the
week, to the extent of twenty hundredths of an inch. > The
thermometer has averaged 80, ranging, from 69 to 94.
Crop
prospects are fine.
The first open ball arrived on the 23d
from Washington Co., Miss., six days earlier than last year
and seven days in advance of the average date.
Since
Exports
from—
19—Niagara, 790 upland, 66 foreign..
To Barcelona—July 24—Coiomba, 704—
To Genoar—July 18—Europa, 30...July 21—Barbarossa,
Naples—July 21—Barbarossa, 49
^
GALVESTON—To Hamburg—July 23—Luceric, 4,000
To Antwerp—July 23—Knock well, 1,637
To
NEW ORLEANS—To
704
2,242. 2.272
49
4,000
1,637
—
-----
—
Liverpool—July 21—Barrister, 838- —
lk———
838
13
5050
To Barcelona—July 19—Federica, 1,450-—
—- —
1,450
To Genoar—July 18-r-Moncenisid, 78
—
78
To Trieste—July 19—Federica, 100
100
To Venice—July 19—Federica, 1,475
1,475
To Mexico—July 19—City of Tampico, 200200
SAVANNAH—To Liverpool—July 21—Wbitecross, 350
----350
To Manchester—July 21—Wbitecross, 650—_—
650
To Barcelona, July 19—Emilia, 276_—
—
276
BALTIMORE—To Liverpool—July 16—Rowanmore, 666.-666
To Bremen—July 14—Frankfurt, 2,300—July 17—Koln, 651- 2,951
PHILADELPHIA—To Manchester—July 15—Manchester Spinner,
To Hamburgi July 21—Ellaline,
To Antwerp^-July 24—Dryden,
930.
PORT TOWNSEND—To Japan,
——— — —
—-
-----
---,
231
930
231
T otal—....——.....——. .^. ....... .. .22 j754 ■
.
Alexandria, Egypt,
July 23.
Receipts (cantars
Sept.
1910-11.
LIVERPOOL.—-Sales, stocks, &e., for past week:
July 4.
700
700
7,456,109
1
7,257.528
Since
This
Week. Sept.
This
3,000
7,578,912
Since
Week. Sept.
This
Since
4
1.
Week. Sept. 1.
203,112
2,566 399,414
800 123,270
f,250
199,750
227,800
378,334
115.175
212,880
217,168
1,250 402,032
120,714
4,550 929,834
Exports (bales)—
July 18.
Jul\ 25.
uly
32,000
2,000
52,000
2,000
1.000
2,000
30,000
4,000
44,000
44,000
9,000
82,000
—934,000
.743.000
896,000
706,000
835,000
645,000
48,000
9,000
30,000
28,000
45,000
27,000
4,000
46,000
24,000
18,000
66,000
37,000
52,000
5,000
2.000
44,000
11,000
66,000
792,000
600,000
34,000
18,000
49,000
22,000
1,250 921,059
1,250 952,794
1.
Sales of the week
Of which speculators took
Of which exporters took--.
...
Sales, American.
Actual export
—
...
forwarded
Total stock—-Estimated
To
July 10.
56,000
3,000
1,000
48,000
9,000
88,000
—
This week...
Since
1911-12.
1912-13.
Liverpool !
*
To Manchester.
To Continent and India.
To America.
Total exports
1,250 204,038
The statement shows that the receipts
700 cantars and the
for the week
foreign shipments 4,550 bales.
were
Amount afloat
:
Of which American..
The tone of the Liverpool market for spots and futures
each day of the past week and the daily closing prices of
snot cotton have been as follows:
Spot.
WORLD* SUPPLY AND
:
Of-which American-
Total imports of the week.-.- — — Of which-American.---—
o
Saturday.
Wednesday.
Tuesday.
Monday.
TAKINGS OF COTTON.
Market,
Fair
Fair
Thursday.
|
Friday.
Fair
12:15
Cotton Takings.
Week and Season.
1912-13.
Week.
Season.
1911-12.
Week.
Season.
Visible supply July 18
2,825,655
2,924,400
Visible supply Sept. 1
2,135,485
1,603,418
American in sight to July 25
61",056 15.399,364
65",010 13,409,854
Bombay receipts to July 24-__11,000 2,264,000
12,000 2,670,000
Other India ship'ts to July 24.
366,000
477,200
39,000
11,000
Alexandria receipts to July 23
100
100
967,800
994,100
Other supply to July 23*
262.000
6,000
8,000
324,000
_
__
Total supply.
Deduct—
Visible sutiply July 25
Total takings to July 25..
Of which American
Of which r»t,hrtr_
business
Good
Good
business
business
Good
P. M.
doing.
demand.
demand.
doing.
doing.
demand.
Mid.TJpI'ds
Sales
Spec.&exp.
Futures.
Market
opened
Market,
3,018,510 20,010*639 2.943,811 20,862,582
4
P.M.
2,770,943
2,770,943 2,659,325
29,100
3 O0S.3OQ
284,486 18,203,257
192,386 14,493,457
92.J00
6.72
6.72
6.69
6.64
6.61
10,000
10.000
8,000
8,000
10.000
500
500
1,000
Quiet,
2% points unch.
•advance.
3,000
1,000
Barely st'y
Pt-
to
1
»dy.
Steady,
1@2% pts. 2 @3% pts.
Barely st'y,
.advance.'
decline.
Quiet,
Quiet,
Easy,
2@3 points 2@3 points 2% (p 3 pts.
decline.
decline.
decline..
Quiet,
1 point
advanoe.
Steady,
Steady,
2% @3%
pts. adv.
-
Quiet,
4% @5 pts.
■2@4 pts.
Quiet,
2@6% pts.
decline.
decline.
decline.
2,659,325
prices p.f futures .at Liverpool for each day are given
Prices are on the basis of upland, good ordinary
clause, unless otherwise stated.
The
247,567 17,239,696
218,467 13,331,396
6.73
9,000
2,000
3.709.800
below.
JULY 26 1913.]
The prices are
Thurs.
Wed.
Tues.
Mon.
Sat.
July 19
DAILY CLOSING PRICES
Thus: 6 45 means 6 45-100<f.
given in pence and hundredths.
Sat.
Fri.
12#
4
12#
12#
o.m.
p.m.
p.m. p.m. p.m. p.m
iH
6
6
.—
Oct .-Nov.
.—
46
—
6 38
6 25 # 26
6 21# 22
6
19
6 20
6 21
21
6
Apr.-May
May-June
June-July
11*.
11*
13
18# 14 #
19# 15#
20 # 16 #
21# 17#
21# 17#
6
Mar .-Apr
d.
4
p.m. p.m
d.
d.
IS*
If*
11* li* 07#
20* 20*
18
17#
16 # 17
17
6
d.
d.
12 #
4
p.m. p.m.
d.
12 #
4
m
17
18
19
20
17
18
19
20
20
20
11
15# 12
15 # 12
i i*
16
17
17
07#
11
0714
12 # 09
13 # 10
14# 11
15# 12
15# 12
Indian
p.m. p.m.
d.
l4o*
08 #
08#
08# 05#
10
07
32#
32#
24#
13#
09?
p
11
08
12
09
,
04A*
04
04
06
07
08
13# 10# 09713# 10# 09^
BREADSTUFFS
less nominal.
The sales of Southwestern flour have been
noticeably small. Buyers are watching the development of
the spring-wheat cropland the course of events in the wheat
market* and are restricting their purchases of flour until they
can see their way more clearly.
The production at Minne¬
apolis, Duluth and Milwaukee last week was 372,370 barrels,
'against 370,525 in the previous week and 346,800 in the same
within rather restricted bounds.
a certain
steadiness, even when the crop advices from the Northwest
have been more favorable.
The fpreign markets have ex¬
fluctuated
has
Yet it is to be remarked that prices have shown
hibited
bear.
a
firmness that
The
world's
was
stock
more
of
less
or
wheat
disconcerting to
decreased
last
a
week
5,453,000 bushels.
The world's shipments last week were
10,320,000 bushels,which cannot be regarded as large.
There
have been reports of bad Weather in Germany and Holland
and of damage to the crop in Southwestern Russia, owing to
heavy raids.
The foreign crop situation may have a very
important bearing on the future of prices in this country.
Last week the supply in and afloat for Europe decreased
2,800,000. bushels.
This had a noticeably steadying effect
in Liverpool, especially as Buenos Ayres, Manitoba and
American quotations were firmer at the time.
Some esti¬
mates put the crop in the United Kingdom as smaller than
that of last year.' In France the crop is late, more so than
ever,and rust is spreading, while supplies of native wheat
are very small.
In Germany the weather has been so wet
except in the northern portion, that fears are felt of damage,
perhaps serious damage, to the crops. Also the present sup¬
plies in Germany of native wheat
.
are small.
In Rumania
harvesting is certainly slow, even if the crop should turn out
to be good.
In Bulgaria, too, the war has interfered with
harvesting and it is
very
late.
In
Hungary rains
have
delayed
harvesting.
In
East
India
the crop
such
outlook
is
Only
moderate
that
holders
of
wheat
are
very
crop
Erices in this country have bushels
the week
Early
900,000 been sustaining factors. export,
taken for
i
some
were
partly to arrive at New York and partly to
go
via
Gulf
ports.
On the other hand, the crop prospects in this country
are
believed to be better.
The reports of black rust, in
Minnesota are regarded by many as exaggerated for specula¬
tive effect.
sota and the
Certainly the weather has been cooler in Minne¬
Dakotas, and this should minimize the danger
from rust.
Some reports have even deolared the weather
conditions in Our Far ^Northwest to be ideal. Also, whenever
prices advance, it is noticed that country offerings increase.
On a simple single day the receipts at
Chicago, Minneapolis
and Duluth reached a total of 1,094 cars,
against 1,051 on
the same day last week and 355 last
year.
The world's
shipments thus far this season, including flour, are equal to
12o,704,000 bushels, or 26,000,000 more than during the
same
time in
1902.
.
DAILY closing prices of wheat futures IN NEW YORK
■
.
.
Sat.
Mon.
Tues.
Wed.
Thvrs.
Fri.
96#
96#
98#
95
98
96#
98#
95
98
96#
98#
Qf>
98
96#
98
94#
97#
.cts .96#
July delivery in elevator..**
September delivery in elevator
December delivery in elevator..—
86#
87
85#
86#
90#
90#
90#
90#
89#
Fri.
assured as yet. Early in the week one report
said:"If there is not a copious rainfall in the near future, the
plant will, it is stated, tassel short and have small ears."
On the other hand, no serious damage, it appears, has been
done in Nebraska, nor, for that matter, in Kansas, according
to what seems to be trustworthy reports.
While some ad¬
vices assert that the damage in Kansas is serious, others state
that it is not over 5 %.
Damage is nearly always exaggerated
that everybody knows.
Still, the fact is not to be denied
prices have been strong on brisk buying for an advance,
has suffered more or less severely
from the prolonged hot, dry weather.
Nebraska arid Okla¬
homa are said to have been injured.
The world's shipments
last week were 5,615,600 bushels, against 6,852,060 bushels
the idea that the crop
on
in the
The available supply in the U. S.
previous week.
high record
Latterly,
Nebraska
and Northern Texas. Showers have occurred throughout the
Ohio Valley.
The cash demand of late has been slow.
To¬
day prices fell, owing to rains in the Southwest.
decreased last week 2,061,000 bushels.
A
new
has been reached on the price during the week.
there have been good rains in Kansas, Oklahoma,
CORN IN NEW YORK.
DAILY CLOSING PRICES OF NO. 2 MIXED
Mon.
nom.
nom.
corn--
CLOSING PRICES OF
DAILY
July delivery In elevator
_cts_
September delivery in elevator—December delivery in elevator.—
Wed. Thurs. Fri:
Tues.
nom.
Sat.
Cash
nom.
nom.
nom.
CORN FUTURES IN CHICAGO.
Mon.
61#
62
62#
63#
59
Tues.
60#
61#
62#
59#
Wed. Thurs. Fri.
61#
62#
61#
62#
60#
61#
59
59
58#
owing mainly to unfavorable
crop reports and the firmness of corn.
The influence of corn
has at times been all powerful, oats simply following in the
wake of that cereal.
Shorts have covered freely :
4'Spreads''
between corn and oats have been closed. Late oats have been
have
Oats
been stronger,
damaged in Iowa by the intense heat and dry weather.
The
available supply of American oats decreased last week
693,600 bushels.
On the other hand, some think the damage
to the crop has been exaggerated.
The weather has been
very favorable in many sections for haying and harvesting.
In Iowa haying has been pushed, and most of it has been
finished, with excellent results.
The supply of American
oats is 28,325,000 bushels, against 7,573,000 a year ago. The
stock at Chicago is beginning to increase and the cash trade
is only fair.
It is very largely a weather market for the time
being.
The belief is very general, however,, that the crop
is much smaller than thq last one and that prices-are destined
to reach a higher level, partly under the leadership of corn,
whose influence is great because of the new high records for
the season which it is constantly making.
To-day prices
were
lower.
DAILY
CLOSING
PRICES OF OATS IN NEW
Mon.
Tues.
Wed.
Sat.
YORK.
^
;•
Fri.
Thrs.
cts_44-44# 45-45# 45#-46 45»^-46 45#-46 45#-46
44#
46
46#46#
46#
46#
DAILY CLOSING PRICES OF OATS FUTURES IN CHICAGO..
Standards-....-.
No. 2 white
Sat.
Mon.
July delivery in elevator
cts. 39
September delivery in elevator
40#
December delivery in eloYator..
42#
The
following
are
Tries.
39#. 39#
41#
40#
43#
42#
Wed. Thurs.
38#
40#
.42#
Fri.
38#
39 #
41#
38#
40#
42#
closing quotations:
FLOUR.
Winter, low grades—.$3 10@$3 50 Spring clears
$4
Winter patents—----- 5 40© 575 Kansas straights, sacks- 4
Winter straights
4 70@ 4 90 Kansas- (dears, sacks—- 3
Winter clears*
4 10© 4 35 City patents
5
Spring patents
—----3
; 4 85© 5 10 Rye flour
———4
Spring straights 4 60© 4 75 Graham flour.
——
-
00® f 4 25
25©
75©
95©
65©
00©
4 40
4 00
6 60
3 90
4 75
GRAIN.
Corn, per bushel—
No. 2
-..--elevator Nominal
$0 99#
Steamer
.elevator Nominal
N.Spring, No. 2_
97#
No.
3——
-.c.iJT. Nominal
Red winter, No. 2-——96#
Hard winter. No. 2
96# Rye, per bushel—
Oats, per bushel, new—
No. ,2——————'
69
cts.
State and Pennsylvania—Nominal
Standards..-—.——
45#@46
No. 2, white
46 # Barley—Malting
57 @60
No. 3—————45@45 #
Wheat, pier bushel—f. o. b.
N. Spring. No. 1.—
------
-
——
"
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 riyer ports for the week ending last Saturday and
since August 1 for each of the last
three
years
have been:
The official
preliminary estimates of
Russia covering points to a spring-wheat
crop of 509,600,000
bushels, against 469,600,000 bushels last year, and of barley
504,600,000 bushels, against 424,000,000 last year.
One
report on the crop outlook in the United Kingdom states
that it is favorable.
The prospects in Rumania and Bul¬
garia point to good crops, even though harvesting is late.
In Australia they are excellent and the
acreage is 10% larger .
The recent rains in Italy did no harm.
For export there has
been considerable business of late from this
country.
Within
the last few days export sales are said to have reached about
2,600,000 bushels.
To-day prices were easier.
Cash houses
sold heavily at Chicago.
No. 2red
86#
87#
far from being
firm!
is expected in Scandinavia.
A
disappointing crop is announced from North Africa.
There have been at times renewed reports of rust in
our
Northwestern spring-wheat States.
The
firmness
of the foreign markets for wheat and the strength of corn
a
Wed. Thurs.
86#
87
has shown much strength from time to time,
corn
Sat.
week last year.
Wheat
Tues.
86#
87#
that
Friday Night, July 25 1913.
Flour has been in only fair demand at best, and as a rule
has been quiet.
Also, although prices have been, to all out¬
ward appearance, steady enough, rumors have been current
of secret "cuts" in spring-wheat flour.
It is hard to confirm
such rumors or to prove them false.
The truth, however,
is that business has lagged and that prices have been more
or
Mon.
owing to reports of damage to the crop.
These have come
chiefly from Kansas.
Southern buyers have been getting
corn in Central Illinois and also at Chicago.
Dry weather
has caused covering.
Bulls maintain that a good crop is
d.
43
43 # 46# 47
42# 37# 38# 35
46 # 42 # 42
46
38# 35
31
27
39
35*
22
25
-
45# 43
38 # 36
!6 17
Nov .-Dec
Dec.-Jan.
Jan.-Feb_
Feb .-Mar.
d.
d.
d.
July
July-Aug_
Aug.-SepSept.-Oct.
4
12 #
12#
CHICAGO.
OF WHEAT FUTURES IN
July delivery in elevator
cts_ 86
September delivery in elevator—. 86#
December delivery in elevator..90#
to
July 25.
247
CHRONICLE
THE
99#
94#
97#
99
-
95#
98
Receipts at—
Flour.
Wheat.
Oats.
Corn.
Barley.
Rye.
bbls.imbs. bush. 60 lbs. bush. 56 lbs. bush. 32 lbs. bushA8lbs. buM lbs.
Chicago
Milwaukee—
145,000
51,000
Duluth-
Minneapolis.
Toledo...
Detroit
~~7~66o
Cleveland...
11,000
61,000
44,000
St.
Louis
Peoria
Kansas
City
.
Omaha*
Total wk.'13
Same wk. '12
Same wk. *11
319,000
199,940
310,797
Kince Aug. 1
1912-13— 17,862,520
1,639,000
87,000
735,000
900,000
152,000
7,000
16,000
1,363,000
54,000
2,859,000
962,000
8,774,000
3,989,605
9,844,374
2,224,000
1.971,000
247,000
698,000
422,000
63,000
22,000
21,000
48,000
209,000
232,000
154,000
273,000
1,960,854
1,755,095
434,000
147,000
411,000
537,000
37,000
74,000
103,000
330,000
1,005,000
152,000
45,000
37,000
31,000
44,000
58,000
"Y,6o6
"s'.ooo
8,000
129,000
>97,000
86,000
32,000
4,000
4,194,000
1,808,777
3,408,566
1,566,000
183,000
24.848
33,570
'
162,066
170,600
269,661,966 228,441^28 250,225,668 103422330 17189642
1911-12— 12,394,875 140,638,522 195,201,563 148,513,404 61,730,165 8.233,598
1910-11
15.649.339 229.746.766 373,599,066 189,258,955 63,182,581 5,171,256
—
[Vol.
CHRONICLE
THE
248
xcyii.
SUMMARY.
Total
receipts of flour and grain at the seaboard ports for
Bonded
Flour,
Wheat,
bbls.
bush.
Receipts at—
New
York
152,000
28,000
27,000
24,000
Boston
Philadelphia....
Baltimore
Richmond
._
•_
_
New Orleans«...
-
St. John...
95,000
1,000
38,000
3,000
1,000
33,000
„
Montreal
820,000
2,000
--
Total week
;
The exports from
ending July 19
------
are
Boston
....
Baltimore
Orleans
Galveston
Corn,
bush.
10,932
bbls.
74,490
8,002
15,594
10,479
12,000
6,000
400
25,941
92,000
Mobile.
782,000
.
60,000
800
42,994
—
68,000
351,000
—
2,000
Total week
2,321,793
-
......
Corn—
—Wheat-
Flour
Since
Since
Week
July 1
Exports for week and July 19.
Sou. & Cent. Amer.
28,673
Brit. Nor. Am. Cols.
Other
.
bush.
117,698
143,148
119,500
178,017
25,941
5,893,817
3,114,806
103,042
6,000 :
Since
July 1
1913.
67,642
71,345
120
2,995
120
225
783
165,273
27,676
559,266
163,105
...
9,117,665
5,098,838
508,061-2,321,793
418,502 1,634,933
..160,565
.122,734
1912
•
Week
July 19.
•
bush.
660
1,468
Total.....
Total
250
countries
July 19.
bbls.
bush.
213,564 1,625,634
123,209
654,579
74,721
40,580
92,912
1,000
29,737
West Indies
.
July 1
1913.
bush.
Week,
1913.
bbls.
73,850
26,587
..
week and since
below:
as
since July! to—
United Kingdom...
Continent
.....
.....
The destination of these exports for the
.<
535
422,422 101,252 241,169
291,658
72,774
160,565
122,734
165,273
, 27,676
Week 1912......1,634,933
July 1 1913 is
bush.
535
1,000
58,000
Quebec
•
Peas,
Rye, Barley,
bush.
bush.
58,258 113,169
......
1,000
30,000
36,000
Montreal.
St. John, N. B_.
•
Oats,
bush.
69,622
Flour,
bush.
440,100
385,602
136,145
126,946
245,000
148,000
York
-
the several seaboard ports for the week
shown in the annexed statement:
Wheat,
Exports from—
New
bush,
bush,
bush,
1,436
....
429
92
1,641
614
49
....
9,670 17,885
4
7,623
429
8,049
521
531
334
13
2,255
2,252
362
951
49"
29
84
Canadian.
Total July
.
19 1913.-37,440
Total July 12
1913..39,424
1912__27,424
July 22 19U..40,266
Total July 20
Rye. Barley. Barley,
429
368
302
1,436
9,674 25,508
2,031 11,285 26,283
2,416
4,811
6,609
9,311 16,422
....
....
bush.
....
The world's shipments of wheat and corn for the week
ending July 191913 and since July 11913 and 1912 are shown
in the following:
Corn.
Wheat.
1912.
1913.
1912.
1913.
Exports.,
DRY GOODS
TRADE.
New York,
---*
-
-
Receipts do not
through bills of lading.
Philadelphia
bush.
THE
40,000
446,000
117,000
29,000
13871000 1993,000
58,076
1,181
3816,123 287,564
include'gralnlpassinglthrough New Orleans for foreign ports
1913.
+
New
Oats,
bush.
—
..
317,000
3,554,000
266,000
1,290,000
Since Jan. 1 1913.11,924,000 89,441,000 41,937,000 31,708,000
Week 1912
260,678
2,041,168
258,796
690,554
Since Jan. 1 1912. 9,289,017 61,274,702 24,874,683 26,254,917
on
Oats.
bush.
29,391
American
Total
45,000
*
58,000
-
Quebec
Bonded
V
Corn.
bush.
1,000
...
Mobile
480,000
49,000
2,000
10,000
...
.
574,000
Norfolk..
Galveston.
17,000
77,000
489,000
83,000
179,000
48,000
72,000
2,000
11,000
46,000
71,000
301,000
555,000
Rye,
bush.
Barley,
bush.
Oats,
bush.
Corn,
bush.
695,000
Bonded
Wheat. Wheat.
the week ended July 19 1913 follow:
Friday Night, July .25, 1913.
There has been little of special interest in the dry goods
trade during the week, business continuing fairly active and
prices firm.
Jobbers have been in receipt of good mail
orders covering late summer and fall requirements, and store
trade has also been good.
There is little in the way of spot
supplies of summer merchandise in the market as good
late summer buying has cleaned up all surplus stocks.
The
tariff has ceased to be a restraining factor in fall business as
the bill is not expected to pass before October 1st at the earli¬
est.
It did, however, delay buying to such an extent that
the fall season is at present practically a month or more
behind.
On the other hand
production has been curtailed
owing to the tariff and stocks in the hands of mills are no
more plentiful than they would have been under normal cir¬
cumstances.
This is not encouraging as stocks in the hands
of both retailers and jobbers are light and there is quite
sure to be a rush for goods later on, with a consequent ad¬
vance in prices.
Staple cottons are moving in steady volume
for the fall months, but buyers are not buying very far ahead.
Selling agents report that they could book a much larger
business by making slight concessions in prices, but as the
mills are comfortably situated on business and there is no
accumulation of stocks in any quarter, mill agents are content
to await business, warning buyers in the meantime that, too
much delay only means a rush for goods and higher prices
later.
Export business has fallen off completely and only
few inquiries are received.
The outbreak of further trouble
in China has destroyed hopes of better business with that
market, while stocks in other large markets are reported to
be sufficient to admit of a period of quietness.
In woolens
and worsteds interest centers in the new Spring lines, the
opening of which has been delayed as long as possible owing
to the uncertainty of selling agents in naming opening prices.
In men's wear spring lines are opening irregularly and at
reductions of from 5 to 10 cents a yard, while in dress goods
opening prices are still withheld, although the sample lines
are complete and ready to be shown.
*
DOMESTIC COTTON GOODS.
Week
July 19.
July
Bushels.
North Amer.
Russia
ArgentinaAustralia
712,000
India...... 2,792,000
Oth. countr's
12,000
The
10320000
i
July 19.
•
Since
July 1.
Bushels.
Bushels.
13,098,000
4,156,000
1,584,000
1,936,000
2,864,000
8,128,000
138,000
928,000
856,000
Total
Week
July 1.
1.
Bushels.
3,208,000
1,812,000
Danube
Since
Since
Since
t—-r—1913
July 1.
Bushels.
Bushels.
201,000
996,000
1,275,000
"986,000
3,248,000
India
17,511,000
1,176,000
,
Other
Arabia
West
■
*
r
was
19,685,000
21,745,000
afloat for Europe
corn
on
Corn.
United
United
Kingdom.
Continent.
Total.
Kingdom.
Bushels.
Bushels.
Byshels.
Bushels.
visible
Continent.
To a}.
Bushels.
Bushels.
14,648,000 36,488,000 12,691,000 22,644,000
16,472,000 38,432,000 12,341,000 22,738,000
17,312,000 40,776,000 9,112,000 22,483,000
14,856,000 36,864,000 3,485,000 6,605,000
35,335,000
35,079,000
31,595,000
10,090,000
of grain, comprising the stocks in
granary at principal points of accumulation at lake and
seaboard ports July 19 1913 was as follows:
supply
UNITED
STATES GRAIN STOCKS.
Amer. Bonded
Amer.
Wheat. Wheat,
Corn,
Oats,
Oats.
bush.
bush.
bush.
bush.
bush.
bush.
49
871
207
9
41
22
7
28
112
3
1
1
109
54
231
178
182
bush.
New York
.
bush.
467
279
"
'
Boston
270
Philadelphia.
318
Baltimore..
.
New Orleans
.
Galveston
.
Buffalo
.
70
530
556
I*.
■
.
855
.
„
1
1
1
Amer.
Amer. Bonded
Rye. Barley. Barley.
1
1
1
k
f
1
1
1
f
1
1
""27
1
I
1
t
1,333
1,764
"106
47
259
834
Amer. Bonded
-1
1
111•
1111
1
1
1
1
77
5
"393
'
Toledo.
.
196
.
Detroit
.
.
.
52
18
4,918
10,100
--
Chicago
.
afloat
.
1,631
145
.
.
Kansas City
Peoria
.
Omaha
.
.
.
.
On Canal and River..
July
Total July
Total July
Total July
19
12
20
22
83
....
1913..29,391
1913..29,843
1912.. 17,986
1911.-34,394
1,436
2,031
2,416
—
115
703
151
17
876
~~2i
59
685
125
198
5
"27
....
....
191
....
1
ICO IC*
"20
213
—
429
429
1,641
368
421
1,605
302
9,670 17,885
11,277 17,711
4,802
1,676
8,517 10.901
334
349
13
920
....
49
29
84
....
CANADIAN GRAIN STOCKS.
Canadian Bonded
Wheat,. Wheat.
•
*'
bush.
Montreal
1,226
Ft William & Pt. Arthur 4,860
Other Canadian....... 1,963
Oats,
bush.
bush.
4
1,833
3,837
1,953
4
7,623
8,572
4,933 TF
5,521
»
-
Total
8
Total
9
....
Bonded
Oats,
bush.
....
Total July
19 1913.. 8,049
July 12 1913.. 9,581
July 20 1912.. 9,438
Total July 22 1911.. 5,872
Canadian
Corn.
bush.
794
Bonded
Canaian
Rye. Barley. Barley,
bush.
bush.
bush.
92
614
92
614
110
647
13
31
-
—
Since
Jan. 1.
187
3,174
55
1,340
572
58
,
,
1,294
275
21
48,344
16.621
35,507
16,119
27,780
1,859
- 551
1,832
3,932
41,670
42,178
8^823
247,116
12,570
fair
quite good demand for nearby delivery, trade being
their scarcity. Although
the formal opening of percales for the jobbing trade is not
likely to take place until September, it is reported that cer¬
tain constructions are being shown for spring by some
factors and that orders are being taken.
On the other hand,
trade in ginghams has been rather quiet.
Some attribute
the inactivity to rumors which have been circulated to the
effect that under a new tariff many ginghams of foreign
make will be offered in this market for spring delivery, and
these are encouraging many jobbers to hold off.
Sheetings
are
in
restricted in many constructions by
General sentiment,
however, is optimistic and in view of the crop prospects and
limited stocks in all quarters predictions are for a good busi¬
Print cloths are moderately active with the
It is stated that a good business
could be done if sellers were willing to offer slight concessions
from generally quoted prices.
Gray goods, 383^ inch standdard, are quoted 5 @5 l-16c.
WOOLEN GOODS—In markets for men's wear selling
agents are preparing for their openings of staple and fancy
goods.
Prices are expected to show reductions ranging from
5 to 10c. and a good business is predicted at values named,
as many leading clothiers are in need of supplies and will not
be able to hold off much longer.
Activity is also expected
to develop in dress goods.
in the fall.
undertone about steady.
2
"~5
1
;
For
Week.
activity continues in markets for domestic
cottons, buyers for the most part are confining their purchases
to actual requirements for the next few months.
Some
lines, however, are more active than others and prices rule
steady.
Wash fabrics have been in good request with novel¬
ties receiving the most attention and selling well.
Denims
are well ordered, tickings are firmly held and bleached cottons
ness
205
466
.
"66
....
—
444
.
....
*...
34
....
946
143
14
'
"iio
486
466
352
1,764
■
Total
1,062
28
162
«...
685
......
On Lakes
.
....
5
263
Indianapolis
.
....
863
88
240
6,915
.12,870
.
St. Louis
.
'
....
393
Minneapolis
.
130
..
Milwaukee
Duluth
....
;
countries
and drills have also been less active.
5
•
445
Central America
South America
While
The
.187,756
12
Total..
Wheat.
July 19 1913.. 21,840,000
July 12 1913.. 21,960,000
July 20 1912.. 23,464,000
July 22 1911.. 22,008,000
2~312
...
dates
follows:*
as
99
1,292
373
39,323
9,285
20,096
16,932
21,425
1,497
9,031
31,654
37,015
Mexico
33,159,000 5,015,000
quantity of wheat and
:i
Indies......
Other
mentioned
17
Europe
Africa
8,272,000
682,000
31,904,000
74
"
Jan. 1.
916
582
China
17,213,000
85,000
7,872,000
281,000
6,535,000
425,000
1,992,000
7,630,000 4,224,000
Week.
——1912
Since
For
New York to July 19—
Great Britain..
FOREIGN DRY GOODS.—The situation in linens has
quieter as buyers for the present appear to be well
supplied and are more inclined to await the outcome of the
tariff before committing themselves further ahead.
Bur¬
laps are firmly maintained with the trading active in light¬
weights i supplies of which are light.
Heavyweights are more
or less
neglected.. Lightweights are quoted at 6.00c. and
heavyweights at 7.65c.
-
become
HwssMe
Uemwumwitw*
July 26
Sot ATm£mr p£fArrM£WT,
K
present herewith our
We
issues put out
condition of
'
.
detailed list of the municipal bond
which the crowded
prevented our publishing at the
during the month of June,
our
usual time.
columns
-V.--v
-
- \
128 of
the "Chronicle" of July 12.
Since then several belated June
returns have been received, changing the total for the month
to $37,504,530.
The number of municipalities issuing bonds
was 416 and the number of separate issues 597.
The review of the
;
11778845
june bond sales.
'
.;
month's sales was given on page
Page.
Name.
1853-_Academy S. D., Tex
1853—Adams, N. Y
.
,
■"
$1,500
6,200
5
10(1215
30.000
■*
100.416
65--Adams Co., Wis
5
102.19
100,000
1914-1943
65__Agawam, Mass
_
:__ 4 A
100.227
224,110
1784--Akron, Ohio (9 issues)
__
101.726
19,000
dl918-1933
128--Albany, Mo
6
100
•'
3,000
1853--Allegan, Mich
——
5A
23,800
1715—Allen County, Ind—
—
__
5,680
1715—Allen County, Ind
' —
100.165
50,000
1853-_Allentown S. D., Pa—
4
100
23,845
1643--Alliance, Ohio (3 issues)125,000
4A
1715—Ambridge, Pa
—
100.615
65,000
1953
5
1784
Anderson S. D. No. 17, So.Car.
94.74
15,000
1914-1928
4A
65- Antigo, Wis—
100.371
2,700
1715—Appling S. D., Colo—
100
5,000
6
dl~918-1923
1853--Arlington, Ore
100.228
1,200
5
1715--Ashland, Ohio—
100.09
7,000
5
65--Ashland, Ohio.
j.
101.813
75,000
al918
5A
65.-Ashtabula County, Ohio
101.11
10,000
1715--Ashtabula S. D., Ohio
5
100.14
20,000
128--Ashland County, Ohio
5
5,500,000
1784--Baltimore, Md
4
100'""
9,168
1784
Bartholomew Co., Ind. (2 iss.) 4 A
103
20,000
1919-1924
Bear Creek Twp., Ind--5
25,800
1914-1923
189.-Benton County, Ind. (3 issues) 4 A
100""
9,500
1853—Biddeford, Me
_
— —
4
1853-_Big Horn Co. S. D. No. 28,
101^ i
3,500
1938
,
178616451854^
1854.
.
■
130-
253190-
—_
Wyo
6
4A
i.
5,000
20,000
8,800
15,200
-
1643--Blackford Co., Ind.
.
4A
1643--Blackford Co., Ind
4A
d1927-1937
251—BlaineCo. S. D. No. 45, Mont. 6
65-_Bosque Co. Com. S. D. No.
dl923-1953
13, Tex
5
1853--Brockton, Mass. (tissues)
4A
252__Brooklyn Twp., Ohio
4A
1914-1923
65--Brown's S. D., Cal
:
6
1785—Brown Co. Com. S. D. No. 3,\
'
1
5
Tex jL'
65—Buffalo, N. Y.- (2 issues)
129—Buffalo Dr. Dist. No. 1, N. C_
1853—Burlingame, Cal
1715—Caoapon Dist. S. D., W. Va__
1785.-Caldwell, Ohio
1853--California
1853--Cambridge, N. Y —
—
1785--Carroll County, Ind__
1716__Cary H. 8. D., No. Caro— 252--Cascade County, Mont——1644--Cass County, Ind—
1785—Cass County, Ind
—
1785—Castana Ind. S. D., Ia
252--Cedar Falls, Iowa
1716--Centre S. D., Cal
66—Champaign Co., Ohio
1853—Champaign S. D. No. 71, 111—
1644—Chanute S. D. No. 2, Kan
1716-^Charlotte, No. Caro
1853--Chattanooga, Tenn
1785
Cherryville, No. Caro
-
1785--Cheviot,. Ohio.—
_
_
100
101.19
■
100.15
4A
5
5A
6
5
4A
»5
4A
——
Y—
1644—Crawford County, Ind
1716--Crawford Co. R.D; No. 1, OT716--Creston S. D., Ia_„—
190i_Croswell, Mich
129--Cuba, N. Y___. —j
1644—CulpeperCounty, Ala.__-__.—
129—Culpeper County, Va
-_
.
.
<
36,000
8,000
1923
1918
1923
1933
1943
.
100,000
103,000
50,000
5,117
.
■
,
__
6
1943
5
al918
al918
1933
5 4A
4A
4A
5A
5
6
•
—
al923
1916-1944
1915-1918
__
1916-1923
1914-1923
5
5
4A
5
■
1933
dl923-1933
dl918-1933
---
'
1943
.
4A
5
5
5
5
5
—
1920-1933
al918
al920
—
1914-1933
1935-1926
1933
1785--De Witt Co. Com. S. D. No.
40, Tex
5
1853..Dover, N. H
4
252--Dover Sch. Dist., Kan
_.
1717—Dunnellon, Fla
__
.1785—Duquesne S. D., Pa_ —
4A
190—Dyersburg, Tenn
—
5 ,
1717—Dysart, Iowa__
—
5A
dl923-1953
_.._
1928-1942
1933
01923
31,000
5,450
7,660
55,000
175,000
32,250
100,000
39,700
4,000
5,000
8,000
9,500
36,000
68,000
125,000
9,000
2,000
30,000
20,000
9,000
20,000
90.000
9,200
16,000
20,000
1,788
10,000
24,000
'7,000
1,000
8,000
16,000
144,659
29,027
215,602
15,924
15,000
•
---
100
4A
100.125
fob""
100
100
101.626
100
4A
4A
5A
1Q0.311
fob""
104.95
101.31
101.25
100""
100
100
d1923-1933
4
5
V
-------
4A
4A
1914-1918
1923
———
4A
—--434
i-_-
'
„
dl918-1923
1953
1953'
--
5
-
1933
1933
1933
"
-
-
1787- -Lawrence County,
1719- _Lee County, Miss
67- _Lewis Co. S. D. No. 14, Wash.
67. -Lewis Co. S.D. No. 211, Wash
1855- -Little Rock, Ark
'
1855- -Little Rock, Ark
68. -Little Valley, N. Y-
5
5
5A
1923
1923
-
dl914-1923
dl914-1918
1914-1923
,
—
__
1918-1942
4.95
,
—
1919-1932 »
5
Mich
5A
1787- -Manly, Iowa
100
■
'
100
68- -Mansfield, Ohio (9
100
fob""
100;38
100.114
100
,
100
100.91
101.625
100
105
103
101.17
lb'fso'
Var.
100.411
100
98.137
100
102.50
issues)5
1855- -Margaretta Twp. S. D., Ohio131- -Marquette School Dist., Neb1719- -Martin's Ferry S. D., W. Va__
4A
'
-------
25,000
130,000
24,000
20,000
?2,200
10,000
40,000
12,000
■ 25,000
65,000
72,000
17,460
990,000
50,000
8,000
25,000
8,000
9,000
[32,100
30,000
5,000
4923
22,500
12,000
_
4A
5
Cal__
68- -Moody County, So. Dak
1855- -Moorefield Township, Ohio
1720- .Nashville G.S.
5
6
(2 issues) 4A
1720- -Munson Township, Ohio
68. .Myrtle Point S. D», Ore.
68. .Nash County, No. Caro
al923
—
4A
4
1855- -Minneapolis, Minn
5
254- -Mineola, N. Y
4
132- -Minnesota (27 issues)
5
68- -Minster, Ohio (2 issues)
1719. -Minturn School District, Cal— 6
5
68- -Mobile County, Ala
4A
1720- -Moline School District, 111
1855- -Monroe City, Mo. (2 issues)__ 5
4A
1720. -Montclair, N. J
5
1647- -Montgomery County, Ohio
J
5
1787- -Montpelier, Ohio
1787- -Morgan County, Ind.
254- -Moscow, Idaho.
—
issues)- 4A
1646- -Miamisburg, Ohio
1787- -Midway School District,
1787- -Milam County, Tex
192- -Millville, N. J
6
6
D.,No.Caro-_ 6
100
------
_
____
}60
100
—.—_
100
100
100
------
.101.913
*
------
102.055
...
102
100,10
Various,
100.98
100
100
...— _
100
101
------
100.884
101.887
100.237
—100 099
5
dl918-1933
5
al925
'
1933
1787- -Matthews S. D., No. Caro.— 6
;
131 -Mattarauskeet Lake Drainage
District, No. Caro
6
1915-1924
253_ -Mayville Sch. Dist., Mich
5
1918-1922
al928
131- -Mechanicville, N. Y__ —6
-- — -1855- -Mercer County, Ohio (3 issues) __
4A
,1943
68. -Merchantviile, N. J
1719- -MiamiCounty, Ind-i_
1787- -MiamiCounty, Ind. (6
100
100
13,500 100
550,0001 100
191,000]
10,000 100
50,000 100
18,006
1923
-------
5
issues)- 4A
Ohio
5
1719- _La Salle, N. Y_
1855- .Lawrence Co., Ind. (4
100
101.089
35,000
85,000
100,000
5,000
3,000
40,000
40,500
30.000
11.040
dl914-1933
dl914-1923
dl923-1953
.
100
102
100
74,400
'
-
6
1854. -Klamath Falls, Ore.-—
1854. -Knox County, Ind. (3 issues)4A
Tenn
6
253- -Knoxville,
6
1855- -Lafayette County, Miss
5 "
1646. -Lake, Ind
101.755
100.352
136,000
—-—
;___"6
1855- -McLoud, Okla_1 5
1787. -Madison County, Ohio
5A
1855- -Madison Twp. S. D.f Ohio
100
100
101
Various
__
5
5
issues)__ 4H
-J--—-'
~
67. -Kansas (10 issues).
.'
4A
1854. -Kendallville. Ind
5
131. -Kent County, Del
4A
1786. -Kent County, Mich
1787. -King Co. S. D.No. 169, Wash. 5A
1787. -King Co. S. D.No. 180, Wash. 5A
131. -Kingsville Ind. S. D., Tex.— 5
253- -Los Angeles, Cal
1714- -Mackinac County,
100
—
6
1787. -Klamath Falls, Ore
100.527
100
100.549
100.811
1914-1923
1914-1923
5
.1
1786. .Jonesboro, Ga
1786. _Jopiin, Mo.
67. -Kalamazoo, Mich. (3
-
dl918-1934
6
1718. -Jasper County, Ind
1854. .Jasper County, Mo—
67. .Jefferson County, Iowa
1718. -Jersey City, N. J
1718. -Jersey City, N. J__
100
100
2,500
8,400 */100
25,000
102
30.000
100
19,000
100.104
8,150
100
81,500
100
10,000
100
100,000
100.19
276,500
100
50,000
5,000
45,000
3,500
50,000
200,000
25,000
10,000
'
5
5
School Dist., Pa_
Township, Ind__
130. .Howard County, Ind. (2 issues)
1718. .Hudson Co., N. J. (4 issues)—
.'_
67. .Huron County, Ohio
1854. .Hyde Co., No. Caro. (2 issues)
25.000
85,000
150,000
vl0,700
2,000
50,000
3,750,
20,000
1716--Cuyahoga Co., O. (8 issues)— 5
1716—Cuyahoga Co., O.
6
various
1785--Cuyahoga Co., O. (7 issues)
5
al915
66--Cuyahoga Co., O
6
1943
1785.-Dade City, Fla. (2 issues)
5
1785--Dallas Co. Com. S. D. No.
dl918-1953
35, Tex
5
1785—Danbury Twp., Ohio
5
1943"
129—Decatur, Ga
5
1914-1928
1645_-Decatur County, Ind
4A
66—Decatur Twp., Ind
6
1785..Delaware, Ohio (2 issues)
5
1785--Delaware County, Ind
4A
1915-1924
129--Delta County, Mich
5
1717—Denison, Tex
5
66_ _Des
Moines
Independent
f5
School Dist., Iowa
14A
;
20,000?
104.025
10,000
104.607
2,100
100
600,000
—
1853--Cumberland Co.,N.J—.... 5
*
100
100.000 xlOO
1943
.
1716--Colorado Springs S. D.* Colo. 5
1785--ConverseCo. S. D. No. 17,Wyo.5
129__ConverseCo. S. D.No. 15,Wyo.6
1716--Cook Co. S. D. No. 97. Ill
4A
252--Cornelia, Ga.. (2 issues)
—
5
1716—Corona S. I).. Cal
5
190--Corry School District. Pa
4
1644--Cortland, N. Yr
4A
-
al930
(U928
4.95
4A~
5A
5
1644--Clark County, Ohio
66--Clermont Co., O, (2 issues)
1716--Clifton S. D., Ohio
66—Clinton, N. Y
__
129--Clinton. Wis
66--Clyde, Ohio.
252—Coatesville Sch. Dist., Pa—
66--Coblesldll U. F. S. D. No. 13.
.
100
108,000
4
Ohio. —
1644--Cincinnati, Ohio
,
1853
Cincinnati, Ohio_
-—
1785_^Clark County, Ind. (5 issues).
N.
-.
1916-1935
1953
5
5
101
100
102.29
100
100
100
100.025
5.000
2,200 100
44,000
M
40,000 100.445
50,000
18,500 zlOO
3,000 100 ■
10,000 100
19,000 100.526
12,60b , 98.50
395,00b 100
12,000
—--12,000
31,000 100
135,000 100 ■
166,098
—,— _
651,000
20,000
26,500
---- —
2,640 101.321
10,000 100.16
1933
al916
4A
Minn
—
1854. .Idaho (2 issues)
253. -Iiion, N. Y
67. .Indiana (19 issues)
1786. .Iowa City, Iowa
1786. -Iowa City S. D., Iowa
1786. -Ironton, Ohio (3 issues)...— _
1718. -Jackson County, Ind
;700
al921
4.90
130. -Hope
100
1943
'
100.574
109,000 100
25,000
25,000-100
2,000 100
25,000 101.062
40,000 101.327
1933
5
Twp. S. D., Ohio.— 5 -
130. -Hooversville
100
100
100.526
100
20,000
dl914-1923
5
_"___
66. .Harlem
253. .Hartford, Wis.
1718. -Hebron School District, Ohio_
1854. .Henderson, No. Caro__-_
„
1785--Cheviot,
•
1933
4
—
_-
Mont
1854. .Hennepin County,
1854. -Hicksville, Ohio
100.50
100.66
35,500
4,000
14,000
15.000
22,297
25,000
1,500
27,300
6,000
4,000
60,000
30,000
9,000
23,000
5 "
5
fll920
5
I—
5
dl923-1953
6
dl923-1933 ,
4A
1928
6
:4A
1914-1923
5
5
Ohio-.-—- 4A
5
6
1786- .Hancock County, Ind_
5
1646- .Hardin County, Ohio
130- .Hardin Co. Com. S. D. No. 15,
100.50
600
(11918-1933
No. 52,
dl914-1923
43^
al919
4A
1914-1923
5'
dl933-1953
6
1928
Co. S.D. No. 115,Wash. 5
dl923-1933
Co. S. D. No. 9, Wash.
Tex.
100.14
100
99
.
(3 issues)
(2 issues).
'
dl918-1933
5
Tex-vwi.
27,000
32,850
6,500
6
2,500
6 . dl918-1923
5,700 4A
1923
19.000
5
' 12,000\
5
i__—
10,000/
5
—•
7,000
6
1933
35,000
5
1953
175,000
5
dl923-1933 - 65,000
4.80 1918-1929
12,000
4A
1914-1943
30,000
4A
1914-1928
33,000
4A '
25,000
5
dl918-1933
(8,000
14,000
Ohio
Galveston Co. S. D.No. 7,Tex.
Garfield, Wash. (2 Issues)
Genesee County, Mich
German Township, Ohio
Gibson County, Ind. (2 issues)
Glasgow School District, Mo—
66- .Great Falls,
100
__1;—
101.115
100
100.375
--
1854- .Hamilton, 111
66- .Hamilton County,
1854. -Hamden, Ohio.
.
Brown Co. Com. S. D.
1953
1953
6
Galion, Ohio
Gallia County,
1786- Grant
130- -Grant
10,800 1/100.50
2,400
95,000
3,000
2,500
Fremont, Ohio
8,000
325,000
25,000
250,000
5,000
al922
.
4A
4A
4
178617861717- Glendale, Ohio
1854- Gloucester, Mass
1786- .Gonzales, Tex
130- Grand Junction, Colo
_
65--Binghamton, N. Y
1785-_Bingham Twp., Mich
6
•
Price.
Amount.
Maturity.
Rate.
4,750
dl923-1953
5
1717. Elseberry Dr. D., Mo
1645. Essex County, N. J——.—
1717. Essex County, N. J___—
1645. Essex Junction S. D., Vt._
;
1717- Eugene, Ore
—
1786- Eugene, Ore..1853. Eugene, Ore
1786- Exline S. D., la
1854- Flathead Co. S.D.No.29,Moht
1645. Flat Rock Twp. S. D., Ind—
—-130- Fontanelle, Iowa
130- Fontanelle, Iowa
1854. Ford Co. S. D., 111
66- Forest Grove S. D., Ore
1854. Fort Bend Co., Tex
1717- Fort Dodge Ind. S. D.Ia.(2 iss)
1786- Fort Plain, N. Y
66- Framingham, Mass
_____
1717. Franklin Twp., Ind
252- Frederick County, Md_
1786- Fremont, Neb-__
,
4,200
74,800
4,000
5A
r—
Price.
Amount.
Ohio
5
Q. (10iss.)_ 6
East Youngstown,
1645- Eaton, Ohio
1786- Eddy Ind. S. D., Tex
130- Ellsworth, Minn__
JUNE.
MUNICIPAL BOND SALES IN
East Palestine,
185466-
Maturity.
Rate.
Name.
Page.
i
249
CHRONICLE
THE
1913.]
500,000
5,000
16,£00
,31.000
1R?.660
31,130
53,880
10,000
,
,
1923
-
Various
150,000
20'5°0
100,000
8,000
229,000
40,000
19*995
150,000
200,000
,
1933
al923
100 ^
100 ^1
101.611
101.558
100
101.50,
100
100
------
100
100.555
100-085
------
95
100 b§
100 ■
98.875
^60 sal
96.107
--,7x7,---^,
49,000 ^160 ^
300,000 *102.125
15,000 j#101.767
85,000
96.735
—-_,— *
2,000 S100.b52
——
15,900 100.61
—
30,000 ,
j J
1,200 5100
—
1
20,000 *100.135
1943 ( * /10,000*101.17
^
110,000 J101.07
1933
1923-1942
1933
1933 J 3afl 8,000 3101.57
250
THE
Page.
Name.
Rate.
68._NaValencia S. D., Cal1647—Neligh School District, Neb
1787..Nevada Ind. S. D., Tex
132..New Hampton S. D.f Iowa
5
41933-1953
5
5
5
1922
3
1913
3
6
10,500
20,000
1Q33
41923-1943
4^
1788—North Bend, Ore
132. .North Carolina
9,200,000 xlOO
50,000 zlOO
1922
5
6
1720..North Hempstead, N. Y
1720
North Hempstead, N. Y
1788...Oak Harbor, Ohio
1647..Oil City, Pa
1933
4
4
>
132. .North Dakota (18 issues)
-
1953
1923-1933
5
5
1855._Okonogan County, Wash
1914-1915
1918-1942
6
1788-_01ean, N. Y
1855-Olean U. F. S. D. No. 1, N. Y.
1855.-Omak, Wash
1933
434
434
6
-_
Pinto
Com.
S.
100,090
100
3,000
65,000
200,000
2,869
5,000
5,000
100,000
7,000
50,000
14,000
8,500
100
100
5
_
5
41928-1933
434
434
1923
"l~943
6
_
69_-Peebles School District, Ohio._
1933-1938
41933-1943
534
133--Pendleton, Ore
5
133_.Penfield School District, 111
1788y_Penn Twp. S.D., Pa
69.-Pike County, Ohio
69-.Port Clinton, Ohio
1648..Portland, Ore......
5
5
1918-1938
534
1915-1923
>
100
100
100
100
100.50
101.68
96.50
69. .Portland, Ore
6
133- .Portland, Ore...
1856- .Posey County, Ind
1721.. .Putnam County, Ind_
1788- Putnam County, Ind
1721.. Quincy, Mass. (2 issues)..
1788- .Manchester, Wyo
1648- .Randolph County, Ind
1923
4
100
-
1943
1923
6
41928-1943
434
.Randolph County, Ind___
434
.Randolph Co., Ind. (3 issues). 434
1788. .Reading, Pa
4
69.
6
1933
6
No. Caro__
69- .Richland County,
1943
Ohio...
5
1856- .Richton, Miss
6
133- .Richwood Sch. Dist.; Ohio
6
1856- .Ridgeway, Pa
5
1788-. .Riverbank S. D., Cal
5
1788-. Riverside, Cal
."_2
5
1856- Robersonville Twp., No. Caro. 6
138. .Rockingham, No. Car.(2
iss.)_
1721. .Sacramento County, Cal
6
133-. .Sacramento County, Cal
6
1721- .St. Paul, Minn..
6
1721- .St. Paul, Minn
5H
69-. Santa Cruz, Cal
133- .Sarcoxie Spec. Rd. Dist., Mo. 6
1856.. .Savannah, Ga
434
100
100.03
100.225
101.237
1915-1918
41918-1943
100
166:055
100.833
100
4,000
560,000
5,000
1933
1918
1918
"1915-1 §27
lOO""""
100
211,500/
100.50
104
to
193- .Scotia, N. Y. (8 issues).
1721- -Scott County, Miss.
133. .Seattle, Wash
1789. -Seattle, Wash. (3 issues).
__
'
133. -Sevier County, Tenn
5
8,600
5
Ohio
-
1789- -Taunton, Mass. (2 issues)
1789- -Taunton, Mass. (2 issues)
5
4>5
4H
...
Total bond sales for June 1913
(416
1914-1919
••
__
1722. .Tupelo Sep. S. D., Miss
5
194- .Union County, N. J
AH
1722. .Union County, Ohio
5
1857. .Union Sch. Dist., Cal
1722. .Union Twp., Ind
AH
1789. -Utica, N, Y
43^
1789. .Utica, N. Y
AH
1857- -Yanderburg County, Ind
AH
1722- -Vermillion County, Ind
AH
1789. ^Vigo Twp., Ind
AH
1722. -Violet Twp. Sch. Dist., Ohio__ 5
1.789- -Wabash County, Ind. (4 issues) AH
70- -Wadsworth, Ohio..
5
1649- -WahooSch. Dist., Neb—
AH
1789. .Walla Walla, Wash
*,
1789- .Walla Walla, Wash
6
1789- -Wallingford, Conn
AH
1858- -Waitham. Mass. (6 issues).___ 434
1723- .W^arren County, Ohio—
5
1858. .Warren Sch. Dist., Pa
494
1649. .Washington County, Pa
4%
1789- -Washington C. H., Ohio
1
5
1858. -Washington Twp., Ind
434
71. -Washington Twp., Ind
434
1858. -Wayne Twp. C. S. D., Ohio__ 6
71. -Westfield, Mass. (2 issues)
434
255. .Westfield, N. J
5
195-..Westfield, N. J
5
71...Westmoreland County, Pa
434
1723-.Whitman Co.S.D.No.1,Wash. 5H
1858-.Williams County, Ohio
5
134-.Williamsport Sch. Dist., Pa__4.20
1724-.Wooster, Ohio
5
1859-.Yakima Co. S.D.No.29,Wash. 534
1859-.Yakima Co. S.D.N0.88,Wash. 534
1790...Yolo County, Cal
;
6
1724-.Youngstown, Ohio (14 Issues)
k 72. .Zanesville, Ohio
5
101
19.33
1933
01915
__
1923
01918
100.429
100
100
100
101.255
100
100
25,400
1915-1918
""
(Z1914-1933
(11928-1943
Various
•
""1943""
"0T920"
1923
1914
100
24,600
"
al923
100
100.44
42,900
67,199
132,000
55,000
6,000
100
6,000
400
25,000
50,000
lOO"""
11,000
100.018
6,000
15,000
106.566
19,000
100
10,000 *100
7
4
5
fob""""
lOO'"""
100
66,500
200,000
160,000
1,000
AH
1789. -Taylorville Sch. Dist., 111-...
1857- -Townsend Sch. Dist., Cal
covering 597 separate issues)
1933
5
...
...
100.70
1,000
534
434
434
434
434
-Spencer County, Ind
100
110,000
80,000
14,760
5,600
22,000
"al923"'
4
70- .Swampscott, Mass. (5 issues).
134. -Tacoma, Wash. (6 issues)
a
1914-1918
1914-1917
1914-1923
434
1789- .Springfield, Ohio
1649- -Steubenville, Ohio (4 issues)
1857. Steubenville, Ohio.:.
70- .Summit County,
1857. .Superior, Wis..
8,100
25,000
195,515
975,000
28,000
6
7
5
1648. .Shelby County, Ohio
69. .Snow Hill, Md
1721. .South Bend S. D., Ind
1789. .South St. Paul, Minn.
1856- .Spencer County, Ind.l
131-
5
100
15,000
18,400
52,180
12,500
60,000
1,000
16,000
40,000
57,625
240,000
50,000
120,000
2,000
10,000
3,500
5,000
93,000
30,000
9.000
(*1929-1933
1933
(11914-1933
(21914-1933
1914
250,000
10,000
5,000
250,000
35,000
2,000
5,000
168,000
50,990
28,500
100.054
100
160""""
100.50
100
100
100.84
102.02
100.581
100.51
100
lOl'.ir
101.279
100.286
100.388
100.01
100
100.03
100
102.39
100
100
lOO""
100
municipalities
Taken by sinking fund
"
Tex
5
(Z1933-1953
129_-Binghamton, N. Y-_---_____ AH
1916-1919
251--Boscobel, Wis. (Feb.)
3H
1933
189-_Boyne City Sch. Dist., Mich__ 5
1914-1919
189_-Burton, Ohio
5
189--Burton, Ohio
5
1785-_Caddo, Okla. (April)..
6
1938
1785--Celeste Ind. S. D., Texr____. 5
(11923-1933
252_.Carteret
County, No. Caro
5
1955
252--Centre Twp., Ind
AH
252.-Charles City S. D., Iowa
5
1923
66--Chester, N. Y
AH
1853--Clarendon Co. S. D. No. 20,
111. (March)-...
1933
5H
1716--Covington, La, (April)..
5
1915-1933
252—Croghan, N. Y_
: 5
1918-1933
1785-.Divide Co., No. Dak. (April). 4
1923
252..Ellsworth S. D., Iowa
5
1923
1854--Falls Co. Line S.D. No.15.Tex. 5
(*1923-1953
130._Fennville, Mich. ((April)
5
1786--Fountain, Colo. (March)
6
(*1923-1928
252--Franklinton, No. Caro
6
1854-_Glasford S. D., Ill
5
1914-1935
1786-.Honey Grove, Tex
;
5
(*1932-1952
1786-Hunter, N. Y_
5
253-_Huron.County, Ohio.j
5H
1718-King Co. S.D. No.21. Wash.. 5H (*1914-1933
1718-_King Co. S.D. No. 70, Wash.. 5H d 1914-1933
253--Lawrence, N. Y
4.80
Twp., Ind
AH
1928
253--Le?tershire, N. Y
4.85
1719._Logansport Sch. City, Ind
AH
68-_Louisiana Sch. Dist., Mo
5
(*1923-1933
1719_.Luce School Twp., Ind
5
1914-1926
1719-.Marion G. S. D., No. Caro... 5
1943
192._Middletown, N. Y...
AH
17l9__Monroe Co., Miss. (April)... 5H
1938"""
1720.-North Dakota (7 issues)
4
254-_Osawatomie, Kan.
5
1788-.Overton Ind. S. D., Tex_
5
(*1923-1953
254-_Peekskill, N. Y. (March)
1914
AH
254-Peekskill, N. Y. (March)
1933
AH
1721—Pittston, Pa
5
1917
1856__Reubens, Idaho (April)
6
(*1923-1933
255-.Rochester, Pa___
•
4H
1788-.Rosenberg Ind.S.D., Tex.(Apr) 5
193..Roundup School Dist., Mont. 6
(*1928-1933
1788--Rusbville, Ind. (Feb.l
1918-1929
AH
193--Santa Cruz Co.Sch. D. No.6,
-
as an
Ariz
Wash--
the
4.90
above sales
1914-1933
100
4,217
3.678
100.071
30,000
lOO""""
12,000
100
100
13,000
12,000 j/100.13
40,000
100.317
7,000
100
6,000
35,000
8,000
100
18,500
100
95
100
15,000
11,800
100
100
11,600
55,000
12,000 l/l62*.3""
100
12,000
5,000
101.50
25,000
1.01.46
38,000
103.65
2,500 j/100 4,000 1/100
100.046
7,500
30,000
100
100
100
20,000
11,800
4,000
4,890
al919
1917
5H
100
100
100
102.564
103.90
100.05
100
100
100.095
100
100
26,000
100
1,'500
100
(*1923-1933
500
100
—
6,000
(*1915-1918
5
S.
12.000
10,000
1,200
7,000
19,472
54,000
1918"
6
23,000
100
20,000 xlOO
24,000
100
40,000
27,000
13,100
12,000
6
AH
6,106
6,400
20,000
10,500
1914
7
Price.
100.239
100.20
100.229
100.312
104.33
7,000
13,000
14,238
14,000
AH
6
1790--Williamson Co. Com.
No. 57, Tex
1724--Wooster S. D., Ohio
All
6
Amount.
29,520
$10,000
13,000
100
;
175,000 t/100.10
42,000
101.35
24,000
100.425
97
12,000
100
15,000
100
35,000
100
41,950
30,000
102.643
6
1721-.Saybrook Twp. S. D., Ohio
255--Starke County, Ind-^
1857--Tacoma, Wash
1789-Toppenish, Wash. (April)
1722..Urban (T.) U. F. S. D. No.
11, N. Y
1722-Vevay, Ind—
1723-.Wads worth S.D. No. 11, Nev.
255-_Wayne Co., Ohio (3 issues)..
255--West New York, N. J
255l-Whitman Co. S. D. No. 138,
5
D.
T_
(except
as
indicated)
are
_>
for May.
These additional May issues will make the total sales
(not
including temporary loans) for that month $82,888,958.
DEBENTURES SOLD BY CANADIAN MUNICIPALITIES IN JUNE.
Name.
Rate.
1790_.Augusta S. D. No. 2609, Sask. 7
Page.
Maturity.
1859.-Brandon S. D., Man
1,200
1,400
25,000
1923
1914-1943
5
5
Amount.
1914-1923
1859- Avonlea S. D. N,o. 2868, Alta. 6H
72 -Battleford C. S. D. No. 11,Sask 6
__
256--Caputh S. D., Sask
135- -Chicoutimi, Que__
1859--Daisy S. D. No. 2797, Alta...
1724-.Dorval, Que------—
1859-_Drywood S. D., Alta
1859,-East Berry S. D. No. 2787,Alta
1791--Edmonton S. D. No. 7, Alta._
1859--Glen Bain (R. M.), Sask
....
6H
1933
,
"1914-1923
5
7J^
5
6
7
5
6
1791
Holyrood S.D. No. 2596,Sask. 6 H
1859--Kamloops, B. C_-_
135_-Kaslo, B. C—
72--Kingville, Ont. (2 issues)
5
,
1860-_Maypole S. D. No. 2889, Sask.
1860--Melfort, Sask
I860--Midland, Ont. (2 issues)
136.-Mirror S. D., Alta
73_-Moncton, Ont
1860--Mylera S. D. No. 2859, Sask.
196--North Battleford S. D., Sask__
]36--Oakdale(R.M.No. 320), Sask
1860
Odessa S. D. No. 2868, Sask_i
1791
Prairie Rose R.M.No.309,Sask
1792--Quill Lake, Sask
I860
Redford (R.M. No.379), Sask
1860--Saskatoon S. D., Sask
1792—Seederstorm S. D. No. 882,Sask
136--Sherwood Rur. Mun. No. 159,
6H
6
5
1953
1914-1923
1914-1933
1923
1943
1953
1923
5H
1933
1933
1923
1953
1923
6
1914-1933
I860—South Athabasha S. D., Alta. 7
1792--South Colchester Twp. Ont.- 5
"1928"""
1860—Uxbridge, Ont_.
5
1860__Weldon (R. M.), Sask__i
7
I860—Wetaskiwin, Alta. (2 issues)--
-_
1914-I92§
1,200
480,000
17,500
14,906
10,000
5,000
1,700
1,500
80,000
23,000
15,000
150,000
1,800
4,000
17,500
5,000
5,000
2,000
6,000
50,000
2,008
10,000
1,500
29,239
6,000
4,000
23,820
invest¬
Total debentures sold in June
94.50"
lOO"""
10.000 0
1914-1923
6
6H
93.60
98.50
1,000
1,600
.
1923
5
5
Price.
100
100
1,250,000
6H
7
6
6
9,000
250,000
2,000
450,000
1,200
200,000
"""1923""
1914-1933
1914-1928
Sask---^
£$37,504,530
d Subject to call in arid after the earlier
and mature in the later year.
k Notvincluding $5,000,000 "general
fund" bonds of New York
City or $58,367,761 of temporary loans reported,
and which do not
belong in the list,
x
And other considerations.
following additional sales for
,
100
year
y
We have also learned of the
1790--Calgary,, Alta
Average date of maturity,
ment.
-
""
101.875
50,000
35,000
700,000
7,201
4,488
220,000
25,000
—
$125,000
35,000
60,000
175,000
100,000
50,000
17.460
35,260
50,000
2,904,000
48,000
75,000
previous months:
253_.Lawrence
lOO" 463
12.000
1914-1953
_
-
15,000
65,000
7.000
1,800
,
...
88.28"
100.637
100
1
1648-
1788. .Red Lake Falls, Minn.l
133- .Red Springs Graded Sch. Dist.,
101.141
88.79
193.78
210,069
55,000
40,000
16,400
2,869
82,000
13,000
40,000
10,100
38,740
20,000
54,000
1923
434
434
434
434
—
—
-
102.26"
[100,000
1938
,
1853--Bexar Co. Com. S. D. No. 40,
1142,000
4
—
1715.-Battle Creek, Mich. (3 issues, April list)
252-_Canastota, N. Y. (May list)
1854—Fort Bend County, Tex.
(February list)
66-_Franklin County, N. Y.
(February list)
1786-_Joplin, Mo. (February list)
68—Little Valley, N. Y. (May list)..
1787.-Morrow & Marion Counties, Ohio
(May list)
1788-_St. Paul, Minn. (May list)133-_San Francisco, Cal. (April list)
1856--Sea Isle, N. J. (February list)
1859--York County, No. Caro. (May list)
-——
D.
5
Tex
1856.-Park County, Mont
1788.-Parkersburg, W. Va
1856—Parke County, Ind
1720_ Passagrille, Fla
MONTHS.
our
Name.
Rate.
Maturity.
188—Adams County, Ind. (5 issues)
AH
1914-1923
1784-.Arkansas City, Kan
6
1715-_Barnesville, Ohio (April)
5
1853..Beaver City, Neb. (April)
6
(H918-1933
251 ..Bessemer City Gr.S.D., No. C. 6
1943
100.,
1923
5
Co.
No.
PREVIOUS
totals for previous
months, should be eliminated from the same.
We give the
page number of the issue of our paper in which the reasons
for these eliminations
may be found.
Page.
Name.
Amount.
Page.
al935
132..Oto Ind. Sch. Dist., Iowa.___ 5
1788..0wensmouth School Dist., Cal. 5
1856..Palo
101.087
41916-1923
1914-1953
434
1788_.Oxnard, Cal
lOO""
100
5
1720__0shkosh, Wis
FOR
xctii.
.
100.112
100.125
100
22,000
40,000
8,600
50,000
188,000
15,000
50,000
al932
1923
1855.-Ontario School District, Cal__
_
30,000
102.50
100
35,000 J/100
4.80
434
102.874
358,000
164,600
16,000
12,000
3,500
40,000
15,000
TOTALS
following items, included in
1715—Ambridge, Pa. (Jan. list)
500,000 zlOO
1,000 xlOO
1938
3
101.189
zlOO
200
1963
3
_>
100
100
100.55
[Vol.
REVISED
The
179,000
130,000
221,400
dl933-1953
4H
1647.-Norristown, Pa
102
100
150,000
AH
_c_.
Price.
.
4,000
30,000
10,000
4H
68..New Mexico
1720..New Philadelphia S. D., Pa
1788..New Rochelle, N. Y. (5
issues)
132__New York City
132. .New York City
132..New York City
132..New York City
132__New York City
1720—Niles, Ohio
132__Norman, Okla
Amount,
Maturity.
CHRONICLE
$3,170,073
100
97.30
lOO""
100
97.25
100.166
91.15
94.185
101.10
97
92
101.666
fob"""'
96.06
100
99
100
100.775
july 26
THE
1918.j
DEBENTURES FOR PREVIOUS MONTHS.
ADDITIONAL SALES OF
Name.
Rate.
1790.-Clinton, Ont. (April)
5
1791..Esterhazy S. D. No. 804, Sask. 6M
135._Jonesville Sch. Dist., Sask
6^
73__Namepi River S. D. No. 2869,
Alta
7
I860.-Norton (R. M. No. 69), Man.
Page.
(April)
1792.-Quill Plains S. D. No. 2848,
.Sask.
(April)
73-Shediac, N. B_
1792—Spy Hill (R. M.), Sask——
136--Touchwood Rur. Mun. No.
159, Sask—
•
Maturity.
1938
1933
1923
Amount.
Price.
25,000
6,000
97
1,400 100.50
1,200
1914-1923
6H
5
5>tf
ment will
15,000
97
1914-1923
1943
1933
1,600
15,000
10,000
100
Bond Proposals and Negotiations
5,000
1914-1933
——
93.60
95.06
indicated) are for May. These
make the total of debentures sold that
AKRON, Ohio.—BONDS NOT SOLD.—No bids were received on July 18
the $269,930 5% 1-10-yr. (ser.) assess, and $1,250,000 4^% 30-yr.
offered on that day (V. 96, p. 1853.)
>
for
water-works bonds
AKRON
The above sales (except as
additional May sales
month $10,623,013.
TOWNSHIP (P. O. Correll), Big Stone County, Minn.—
town-hall bonds (V. 97, p. 65)
SALE.—On July 15 the $2,500 6%
BOND
awarded to the Citizens' State Bank of St. Peter
bid was also received from Schenke & Co. of Mason
were
A
.
.
this week
follows:
have been as
.
6
of Speyer & Co., New York;
be made at the offices
Speyer Bros., London; Lazard Speyer-Ellissen, Frankfort-oMain; Deutsche Bank, Berlin; Credit Lyonnais, Paris; H. Upmann & Co., Havana.
100
1918
6
251
CHRONICLE
at 99.348 and fait.
City.
ALLEGHENY COUNTY (P. O. Pittsburgh). Pa .—BOND SALE.—On
July 24 an issue of $100,000 4 % 30-yr. school bonds was awarded to the
News
Allegheny Co.
items.
Sinking Fund Commission at par
Denom. $5,000
and int.
1 1913.
Int. J and D.
'
*
ANGELINA COUNTY COMMON SCHOOL DISTRICTS, Tex.-BOND
SALE.—The State School Fund purchased at par and int. on July 10
$800 5-10-yr. (opt.) Dist. No. 16 and $2,500 20-40-yr. (opt.) Dist. No. 41
5% bonds dated May 12 1913.
ANGLETON INDEPENDENT SCHOOL DISTRICT, Tex.-—BOND
SALE.—The State School Fund on July 10 purchased at par and int.
$4,000 5% 1-40-year (opt.) bonds dated May 1.
*
Date June
Kan.—-Supreme Court Orders Provision Made
for Payment of Bonds Due July 1.—On July 23 the Kansas
Supreme Court, according to newspaper dispatches, issued an
order granting an alternative writ of mandamus against the
City of Atchison to pay off the $266,950 of bonds which fell
due July 1 and for the redemption of which no provision was
made.
The Court, as previously stated, was asked to grant
the writ by E. D. Levinson Co. and the Columbia-Knicker¬
bocker Trust Co. of New York, holders of some of the bonds.
A restraining order forbidding any tax levy unless it include
provision for the payment of the bonds was issued.
The following letter concerning the bonds referred to above
was sent by State Auditor Davis on July 19 to Ernest E.
Underwood, Treasurer of Atchison County:
My Dear Sir—That I may not be found neglectful of a duty imposed upon
me in the capacity of a public officer, I beg to submit, as required by Section
Atchison,
594, General Statutes 1909, the following certificate:
That there is due at this date on a certain series of
bonds of the city of
Minn.—BONDS VOTED.—The question
bonds carried at the election held
We are advised that the State of Minnesota
APPLETON, Swift County,
of issuing
$18,000 4% 20-year refunding
July 15 by a vote of 79 to
will furnish the money.
ARCHBOLD
29.
SCHOOL DISTRICT (P. O. Archbold),
Ohio.—BOND OFFERING.—Proposals will be received
VILLAGE
Fulton County,
July 30 by F. A. Geasey, Dist. Clerk, for $6,000 5% coupon
heating,
ventilating and sanitary-system bonds.
Auth. election held
June 30 1913.
Denom. $500.
Date Aug. 1 1913.
Int. F. & A. Due
$1,000 yearly.
Cert, check for $150, payable to Dist. Treas., required.
until 12 m.
Bonds to be
Purchaser to
delivered and paid for within 10 days from time of
furnish at his own expense blank bonds and coupons.
ASHLAND, Ashland County. Ohio.—BONDS NOT
were received on July 19 for the $16,500 5% East Main
offered on that day (V. 97, p. 65).
award.
SOLD.—No bids
St. paving bonds
July 15 an
awarded to
Denom. $500.
ASHLAND, Jackson County, Ore.—BOND SALE.—On
$6,000 6% 1-10-year (opt.) fire-protection bonds was
Atchison, Kansas, being more
particularly described as a series of refunding
denominations from $50 to $1,000 each, bearing date of
July 1, 1883, payable thirty years from date, issued under and by virtue
of statutes then in force and by authority of Section 9 of Chapter 34,
Law
of 1883, the sum of $266,950, as principal, together with interest thereon
from the 1st day of July 1913, at the rate of 4 per cent per annum, which
at this date amounts to $563 54. -
issue of
bonds of varying
the United
provides, briefly, that the State
Auditor, when his records show that bonds are due, or about
to become due, and no, provision has been made for their
payment, shall notify the County, Treasurer to that effect,
and that the treasurer shall thereupon add to the tax rolls
of the city, township, or school district that issued the bonds,
a sufficient tax levy to meet the principal and accrued in¬
terest on the entire bond issue.
The city of Atchison offered the holders of the maturing
bonds new 4% bonds in exchange but owners of only $6,000
to' $7,000 have signified their willingness to make the ex¬
change,*
■ ■ •
' v;
'■
Henderson, Vance County, No. Caro.—Financial State¬
ment.—We print herewith a recent financial statement of
this city.
This was received by us too late for use in the May
number of our "State and City Supplement."
Actual valuation, estimated$6,000,000
Assessed valuation..
2,504,631
COUNTYCOMMON SCHOOL DISTRICT NO. 1, Tex.—
BOND SALE.—On July 10 the State School Fund purchased at par and Int.
$2,000 5% 12-30-yr. (opt.) bonds dated October 15 1912.
ATHENS INDEPENDENT SCHOOL DISTRICT, Tex.—BOND SAtE
On July 10 $3,000 5% 5-40-yr.. (opt.) bonds dated April 1 were purchased
by the State School Fund at par and int.
.
• ,
The law referred to above
—
------ — _ —
debt (including the whole of
said June 5, but of
$50,000 were disposed of)
*
Bonded
bonds offered for
the $100,000 5% street
which, it is stated, only
30,000
None
—60,000
Floating debt
Sinking funds—
—
Tax rate $1 on the $100 of property and $2 70 on each
Population within corporate limits, Census 1910
Population outside (Township)——
Population within corporate limits, present estimate.
poll.
4,503
—-—8,321
—--.-.5,500
Y.—Supreme Court Upholds Validating
Provisions of General Municipal Law, but Declines to Validate
Proceedings Taken in Lackawanna Case.—See editorial article
on a preceding page.
New York State.—Bond Validating Statute Upheld.—-See
editorial article on a preceding page. •
Lackawanna, N,
,
Carolina.—Special Session of Legislature.—Gov.
Craig on July 18 issued a proclamation convening the Legis¬
lature in special session Sept. 24 for the following specific
North
purposes:,
;
1. To provide
•
v
for the people of North Carolina just trans¬
portation rates and to adjust the relations and obligations
between the State of North Carolina and the railroads oper¬
ating within the territory of this State.^
"2. To receive the report of the Constitutional Commis¬
sion and to consider the submission to the people of amend¬
ments to the constitution."
Bond Calls and Redemptions*
the
Board of Loan Commissioners that $25,000 5% Territorial
bonds issued pursuant to Chapter 76, Laws of 1901, for the
erection of buildings for the Territorial Insane Asylum at
Las Vegas, are called for payment on or before Aug. 1 at the
National Bank of Commerce, New York City.
The bonds
are dated July 1 1901 and are payable at the option of the
Territory any time after 10 years from that date.
New Mexico.—Bond
The
Call.—Notice has been issued by
official notice of this bond
elsewhere in this
Department.
call will be found among the
»
Ashland at 101 and int.
PARISH (P. O. Napoleonville) J La.—CERTIFI¬
AUTHORIZED.—According to reports, the police jury on July 8
ASSUMPTION
CATES
authorized the issuance
of indebtedness.
of $80,000
gravel-road-construction certificates
*" -
ATASCOSA
BALMORHEA INDEPENDENT SCHOOL DISTRICT (P. O.
Reeves County, Tex.—BONDS VOTED.—This district
$15,000 school bonds.
hea),
Balmorrecently
voted
BANDERA COUNTY
BOND SALE.—On
COMMON SCHOOL DISTRICT NO. 1, Tex.—
purchased at par and int.
July 10 the State School Fund
$3,000 5% 20-40-yr. (opt.) bonds
dated April 25.
Miss."—BOND
County,
Panola
BATESVILLE,
OFFERING.—Pro¬
posals will be received until 8 p.m. July 28 by J. B. Carothers, Town Clerk,
for $18,000 6% 20-yr. coupon tax-free water-works bonds.
Auth. Chap.
99, Code of 1906.
Denom. $100.
Date July 28 1913.
Int. semi-ann. at
place to be agreed upon.
No deposit required
Bonded debt July 16 1913
$12,000, no floating debt.
Assess, val. $913 about $525,000.
BOND SALE POSTPONED .—We are advised that the sale of the $4 ,509
6% bonds which was to have
definitely.
taken place July 15 has been continued
in¬
•
O. Belton), Tex.—BOND OFFERING.—-Reports
proposals will be received until 10 a. m. July 28 by W; E. Hall,
for the $150,000 road bonds offered without success on June 11
(V. 96, p. 1784).
*
BELL COUNTY (P.
state that
Co. Aud.,
.
160,000
Tax certificates...
Date
States Nat. Bank of
Jan. 1 1913.
Int. J. & J.
advertisements
\ i
Republic of Cuba.—Bonds Drawn for Redemption.—There
for redemption Sept. 1 certain bonds of the
BELLEVILLE, Essex County, N. J .—BOND OFFERING.—Proposals
m. Aug. 6 by E. E. Mathes, Town Clerk, for
$75,000 refunding and $47,000 storm-sewer 5% coup, bonds.
Denom.
$1,000.
Date Aug. 1 1913.
Int. F. & A. at First Nat. Bank. Belleville.
Due Aug. 1 1943.
Cert, check for 2% of bonds bid for, payable to Town
Treas., required.
Bonds will be certified as to genuineness by the U. S.
Mortgage & Trust Co. of N. Y. and legality will be approved by Hawkins,
Delafield & Longfellow, whose favorable opinion will be furnisehd successful
will be received until 9 p.
bidder.
;
SCHOOL DISTRICT NO. 3. N. Mex.—
10-20-year (opt.) school-building
Co. of Denver at 97 and int. and
Denom. $500.
Date June 15 1913.
Int. J. & D.
BERNALILLO
COUNTY
SALE.—On July 14 $3,500 6%
bonds were awarded to W. E. Sweet &
BOND
attorney's fees.
BESSEMER CITY GRADED
SCHOOL DISTRICT
(P. O. Bessemer
Cwro.—BOND SALE.—The $20,000 6%
96, p. 1314) were
Date May 1 1913.
BISHOP INDEPENDENT SCHOOL DISTRICT, Nueces County,
Tex.—BOND OFFERING.—Proposals will be received by N.
Benton,
County Supt. (P. O. Corpus Christi), for the $75,000 5% 10-40-year (opt.)
building bonds voted May 31 (V. 96, p. 1715)..
BLAINE
COUNTY SCHOOL DISTRICT NO. 45, Mont.-fBOVD
SALE.—On June 10 the $10,800 6% 14-20-year (opt.) school-site-purchase
and construction bonds (V. 96, p. 1570) were awarded to the Wells &
Dickey Co. of Minneapolis at 100.50 and int. and free bond blanks.
In¬
City),
Gaston
County,
No.
30-year bldg. and equip, bonds offered on May 20 (V.
awarded to W". C. McNear & Co. of Chicago at 104.33.
terest annually on June 15.
BLECKLEY
COUNTY
.
(P.
O.
Cochran),
Ga.—BONDS VOTED.—
July 19 the propositions to issue $45,000 court-house-constr.
jail and $8,000 road-machinery 5% 30-yr. bonds carried.
On
BLUFFTON, Wells County,
$12,000
Ind.—BOND SALE.—On July 4 the $20,(V. 96, p. 1785) were awarded to the
000 AM% water and light bonds
Studebaker Bank at 100.25.
>
BOSCOBEL, Grant County, Wis .—BOND SALE.—The $24,000
3H% 20-year water-works bonds voted Jan. 28 (V. 96, p. 432) were
awarded in February to the State of Wisconsin at par.
Denom. $1,200.
Date Feb. 1913.
Interest annually in February.
BOSQUE COUNTY COMMON SCHOOL DISTRICT NO. 13, Tex.—
SALE.—This district on July 10 sold $3,000 5% 10-40-yr. (opt.)
1913 to the State School Fund at par and int.
BOND
bonds dated April 10
La.—BONDS VOTED.—A favor¬
July 14 on the proposition to issue
BOSSIER PARISH (P. O. Benton),
election held
road-constr. bonds.
able vote was cast at the
the $175,000 5%
BOSTON,
Mass.—TEMPORARY LOAN.—Reports state that this city
recently borrowed $2,000,000 in anticipation
November and bears 4)^ % interest.
of taxes.
Loan matures in
TOWNSHIP (P. O. Saranac), (Ionia County, Mich.—
OFFERING.—Proposals will be received until 1
p. m. July 28 by
Clerk, for $16,000 5% serial bridge bonds.
Int. semiBonded debt this issue.
Assess, val. over $1,000,000.
BOSTON
BOND
R. J. DeVoe, Twp.
ann.
O. Boston), Tex.—BONDS PROPOSED.—'This
considering the issuance of $500,000 road bonds. „
BOWIE COUNTY (P.
county is
BRADFORD COUNTY (P. O. Starke), Fla.—BOND OFFERING.—
opened on Augi 16, reports state, by the Board of Public
Bids will be
high-school bonds.
*
have been drawn
Instruction for $3,000
$35,000,000 5% gold loan of 1904, the numbers of which will
be found in an advertisement on a preceding page.
Pay¬
BRADSHAW, York County, Neb.—BOND OFFERING.—We are
advised that A. B. Palmer Jr., Vil. Clerk, will
receive proposals before
.
252
Aug.
THE
CHRONICLE
1, for the $2,000 6% 5-20-yr. (opt.), water-system-ext. bonds voted
Date Aug. 1, 1913.
Int. ann.
June 17 (V. 96,
p. 1853).
Denom. $500.
Aug. 1 at office of State Treasurer.
Int.
BRANCH HILL SCHOOL DISTRICT (P. O. Branch Hill), Clermont
Ohio.—BONDS VOTED.—According to reports, the question
building bonds carried at the recent election by a vote
County,
of issuing $30,000
of 59 to 39.
BROOKFIELD, Linn County, Mo.—BOND SALE.—On July 1 this city
sold to local investors an issue of $20,000 5% 20-year city-hall
ext. bonds.
Denom. $500.
Date May 15 1913.
Int. J. & J.
and water-
BROOKLYN TOWNSHIP (P. O, Brooklyn), Cuyahoga County,
Ohio.—BOND SALE.—On June 10 the $3,000 4H % coupon highway-impt.
bonds (Y. 96, p. 1436) were awarded to the M. E. Brainard estate at par,
BUFFALO, N. Y —BOND SALE.—On July 24 the $30,000 4H% reg. taxfree public-health bonds (V. 97, p. 189) were awarded to the Seneca Fire
Ins. Co. of Buffalo at par and int.
COUNTY
(P.
There
were no
'
O.
CALALLEN INDEPENDENT SCHOOL
Tex.—BOND
DISTRICT, Nueces County,
OFFERING.—Proposals will be received by N. Benton,
County Supt. (P. O. Corpus Christi), for $10,000 5% 10-40-year (opt.)
building bonds.
Assessed valuation, $320,000.
CALIFORNIA.—BOND SALE.—On July 15 the $600,000 4% highwayimpt. bonds (V. 96, p. 1785) were awarded to the State Board of Control
COLUMBUS,
City Treas.
SCHOOL DISTRICT (P. O. Campo), San Diego County,
Cal.—BOND ELECTION.—An election will be held Aug. 1 to submit to a
vote the question of issuing $1,000 6% 10-year impt. bonds.
Int. annual
CANASTOTA, Madison County, N. Y.—BOND SALE.—On July 19
the $60,000 5% paving bonds (V. 97, p. 189) were awarded to the City
Bank of Syracuse at par and int. for 5s.
Denom. $1,000.
Date Aug. 1
1913.
Int. M. & N. -Due part from 1913 to 1942 incl.
Bids of par and
accrued int. for 5s were also received from the Syracuse Savs. Bank of
Syracuse and Adams & Co. of N. Y., the latter failing, however, to enclose
certified check.
It was previously reported that these bonds were sold to
Adams & Co. on May 17, but we are now advised that the bonds were not
awarded to them. as they did not comply with notice of sale.
CANTON, St. Lawrence County, N. Y.—BOND OFFERING.—Re¬
ports state that proposals will be received until July 31 by A. H. Wiggins,
Supervisor, for $10,000 4% annual 9-yr. (av.) bridge bonds.
Town
Stark
County,
Ohio.—BOND
SALE.—On
July
21
the
21 issues of 5H% coup. impt. bonds, aggregating $194,300 (V. 97, p. 189),
were awarded, reports state, to Mayer, Deppe & Walter and Breed.
Elliot
& Harrison, of Cincinnati, jointly.
CARTERET COUNTY (P. O. Beaufort), No. Caro.—BOND SALE.—
The $13,000 5% 42-year road bonds offered on May 17 (V. 96, p. 1170)
were.warded to Sidney, Spitzer & Co. of Toledo at par.
Date May 1 1913.
Int. M.&N.
.
CARTERS VILLE,
Jasper
County,
Mo .—BOND
OFFERING.— Pro-
gosals will the received 6% 5-20-year city-hall-building bonds voted July 1
!lerk, for be $12,000 until Aug. 21. it is stated, by A. M. Baird, City
Int. semi-annual.
Certified check for $500 required.
CASCADE COUNTY (P. O. Great Falls), Mont.—BONDS A WARD.—
The $85,000 5% jail bonds, bids for which were received on June 30 (V. 97.
p. 129) have been awa rded to the Wells & Dickey Co. of Minneapolis at par,
CEDAR
FALLS,
June 9 the $50,000
Bl&ckhawk
County,
Iowa.—BOND
SALE.—On
% electric-light bonds (V. 96, p. 1644) were awarded
to G. M. Bechtel & Co. of Davenport at par.
Denom. $1,000.
Date
July 1 1913.
Int. J. & J.
Due July 7 1918.
CELESTE
INDEPENDENT
SALE.—On July 10 $2,400 5%
SCHOOL
DISTRICT,
Tex.—BOND
10-20-yr. (opt.) bonds dated April 5 were
sold to the State School Fund at par and int.
CENTRE
TOWNSHIP
(P.
O.
Howard
County,
Ind.—
BOND SALE.—The $12,000 4\i % bonds offered on May 3 (V. 96, p. 1244)
were awarded to J. F. Wild & Co. of Indianapolis at 100.35 and printing
Date July 2 1913.
of bonds.
.
Int. F. & A.
CHAMPAIGN AND FORD COUNTIES D
AINAGE DISTRICT,
111.—BOND SALE.—The Ilanchett Bond Co. of Chicago recently pur¬
chased an issue of $24,000 6% drainage bonds.
,
CHARLES CITY SCHOOL DISTRICT (P. O. Charles City), Floyd
County, Iowa.—BOND SALE.—On May 22 $40,000 5% 10-year sitepurchase and construction bonds were awarded to the Harris Trust & Sav.
Bank of Chicago at 100.3175 and int.
Denom. $1,000.
Date June 1.
1913.
Int. J. & D.
CHELSEA,^Suffolk
County,
Mass.—TEMPORARY
cording to reports, this city has disposed of
April 6 1914.
a
LOAN.—Ac¬
loan of $210,000 maturing
CHICASAW COUNTY (P. O. Houston), Miss.—BOND OFFERING.—
Reports state that proposals will be received until Aug. 4 by H. E. Brannon,
Int. annual.
Clerk of Board of Sup., for $10,000 5% 20-year jail bonds.
CHILDRESS, Childress County, Tex.—BONDS PROPOSED .—This
city is contemplating the issuance of $15,000 street and sewer bonds,
INDEPENDENT
SCHOOL
DISTRICT, Tex.—BOND
SALE.—On July 10 $3,000 5% 15-40-yr. (opt.) bonds dated March 1 1912
sold to the State School Fund at par and int.
were
CINCINNATI;
were
received
Ga.—BOND
Denom.
$1,000.
ELECTION.—Local
the
Int. semi-ann. at office of
cast at the election held
was
July 16
proposition to issue the $60,000 4gold coupon hospital-constr.
it is stated.
bonds (V. 96, p. 1785
COMMERCE,
,
County,
Jackson
Ga.—BONDS
VOTED.-r-The
ques¬
tions of issuing the $8,000 school and $8,000 paving 5% bonds
(V: 96.
p. 1716) carried at the election held July 15 by a vote of 156 to 38 and 145
to 47 respectively.
Int. J. & J. Due Jan. 1 1944.
COON RAPIDS, Carroll County, Iowa.—BOND SALE.—An issue of
$2,700 5H% 20-year optional water-works bonds has been awarded to G, M.
Bechtel & Co. of Davenport at par.
CORNELIA,
Habersham County, Ga.—BOND SALE.—The $5,090
and $15,000 water-works 5% 30-yr. bonds offered on May 5 (V.
96,
1244) have been sold to the Goergia Engineering & Construction Co.
of Clayton at par.
p.
CORRELL.
Big Stone County, Minn.—BOND SALE.—On July 15
the $2,500 6% town-hall bonds (V. 97. p. 66) were awarded to the Citizens'
State Bank or St. Peter at 99.4508. Schenke& Co. of Mason
City bid $2,455 <
COVINGTON,
bids
Miami
County,
Ohio.—BONDS NOT
St.-impt.
received for the $2,000 5% coupon Grant
were
offered
on
July 18 (Y. 97,
p.
SOLD.—No
assess,
bonds
66.)
CROGHAM, Lewis County, N. Y.—BOND SALE.—The $8,000
1376)
(ser.)
5-20-
village-hall-constr. tax-free bonds offered
May 12 (V. 96, p.
Watertown Savs. Bank of Watertown at 100.15
were awarded to the
for 5s.
CUT BANK,
Teton County. Mont.—BOND SALE.—We are advised
14-20-yr. (opt.) electric-light and water-works bonds
May 26 (V. 96, p. 1437) have been sold to the Miracle Concrete
Corp. of Kalispell at par,
Date Jan. 1 1914.
that the $26,000 6%
offered
on
DANSVTLLE, Livingston County, N. Y.—BOND OFFERING.—Re¬
ports state that proposals will be received until 2 p. m. Aug. 1 by H. Rowan,
Village Clerk, for the $43,400 5% 10 5-6-year (average) paving bonds voted
Oct. 11 1912 (V. 95, p. 1634).
Int. semi-annual.
Certified check for $250
required.
-
DECATUR, Macon County, 111.—BONDS NOT SOLD.—No bids were
4% public-impt. bonds offered on July 14, re¬
received for the $135,000
ports state.
DEMOPOLIS SCHOOL DISTRICT (P. O. Demopolis), Marengo
County, Ala.—BOND ELECTION.—Reports state that an election will
be held Aug. 4 to submit to
a
vote the question
of issuing $20,000 bldg. bonds
DENTON COUNTY COMMON SCHOOL DISTRICTS, Tex.—BOND
SALE.—On July 10 $1,000 Dist. No. 3 bonds dated April 14 and $1,000
Dist- No. 33 dated April 10 were purchased at par and int. by the State
Permanent School Fund.
Both issues bear 5% int. and are due in 20 yrs
,
DENVER, Colo.—BOND OFFERING.—Newspapers state that J. B.
Hunter, Pres. of Board of Public Works, will receive proposals until 11:30
a. m. July 29 for
$35,000 6% 13-year improvement bonds.
Certified check
for $500 required.
DE WITT COUNTY COMMON SCHOOL DISTRICT NO. 40, Tex.—
BOND SALE.—On July 10 $3,000 5% 10-40-yr. (opt.) bonds dated Dec. 1
1912 were awarded at par to the State School Fund.
DODGE
CITY SCHOOL DISTRICT
(P. O. Dodge City), Ford
Kans.—BONDS VOTED.—Reports state that a favorable vote
the election held July 16 on the proposition to issue bonds.
County,
was cast at
DOVER SCHOOL DISTRICT (P.O. Dover), Shawnee
County, Kans.
—BOND SALE.—The Clerk of the Board of Education advises us that this
district has disposed of $3,500 building bonds (V. 96, p.
1717.)
DOWNER'S GROVE SCHOOL DISTRICT (P. O. Downer's
Grove),
Dupage County, 111.—BONDS VOTED.—According to reports, a favora¬
was
cast
at
recent election on the
a
proposition to issue $35,000
building bonds.
DRISCOLL INDEPENDENT SCHOOL
Tex.—BOND
DISTRICT, Nueces County,
OFFERING.—Proposals will be received by N. Benton,
(P. O. Corpus Christi), for $10,000 5% 10-40-yr. (opt.) schoolbldg. bonds.
Assess, val., $360,000.
DUBOIS COUNTY (P. O. Jasper), Ind.—BOND SALE.—The First
Bank of Petersburg was recently awarded an issue of $4,499 21
6%
1-5-year (ser.) Hildebrand ditch bonds at par.
Nat.
DUNELLEN,
Middlesex County,
N. J. —BONDS VOTED.—This
borough recently voted in favor of the question of issuing $65,000 sewer
and $30,000 sewage-disposal bonds.
DUNLAP,
Harrison
County,
Iowa.—BOND SALE.—On July 5
1912.
M.
Int.
&
ELLSWORTH
S.
.
SCHOOL
DISTRICT
(P.
O.
Ellsworth), Hamilton
County, Iowa.—BOND SALE.—On May 22 the $15,000 5% 10-yr. bldg.
at par.
1376) were awarded to G.M. Bechtel & Co. of Davenport
Denom. $1,000.
Date June 1 1913.
Int. J. & D.
ELMIRA,
p.
Chemung County, N. Y .—BOND OFFERING .^-Proposals
O. H. Gardner, City Clerk, for the
will be received until 8 p. m. Aug.,4 by
following pavement bonds at not exceeding 4H% interest:
$100,000 series
VA" bonds.
-
Date Aug.
1
1913.
Due $10,000 yrly.
on
Aug. 1 from 1914 to 1923 incl.
100,000 series "B" bonds.
Date Sept. 1 1913.
lows:
on
$20,000 in 1931 and $25,000 in 1932.
CLARK TOWNSHIP, Johnson County, Ind.—BOND OFFERING.—
Jno. T. Overstreet, Township Trustee, will receive proposals at the First
National Bank in Franklin until 2 p.m. Aug. 1, it is stated, for $3,500 school-
an
issue of $8,000 5% 10-20-yr. (opt.) water-works bonds was awarded to
G. M. Bechtel & Co. of Davenport at par.
Denom. $1,000.
Date Sept. 1
Ohio.—BONDS NOT
SOLD.—Reports state that no
July 21 for the three issues of 4% % improvement
(city's portion) bonds, aggregating $357,500 (V. 97, p. 189), offered on
that day.
They will be offered for sale over the counter.
bids
County,
Due $15,000 yrly. for 30 yrs.
bonds (v. 96,
-
...
CHILDRESS
Muscogee
Co. Supt.
CHAMPAIGN,
Champaign County,
111— BOND ELECTION.—
According to reports, an election will be held July 29, to vote on the ques¬
tion of issuing $17,000 fire-dept.-impt. bonds.
'
on
ble vote
Centre),
of bonds bid for, payable to City
days from
BONDS VOTED.—A favorable vote
year
and int.
CAMPO
(V. 97, p. 189).
check for 2%
sewer
other bids.
Huntington), W. Va.—BONDS ^NOT
SOLD.—No sale has been made of the $100,000 4>£ % 20-30-yr. road-impt.
bonds offered on May 20 (V. 96, p. 1436.)
CANTON,
Cert,
Bonds to be delivered and paid for within 10
Purchaser to pay accrued interest.
water-works-constr. bonds.
BRISTOL COUNTY (P. O.
Taunton), Mass.—NOTES NOT SOLD.—
were received on
July 22 for the $70,000 4% notes offered on that
day (V. 97, p. 189).
We are advised that the County Treasurer was au¬
thorized to dispose of them at private sale.
at par
8.
xcvii.
newspaper reports state that an election will be held Oct. 18 to vote on the
question of whether this city shall issue $450,000 5% gold coup, tax-free
No bids
CABELL
&
Treas., required.
time of award.
on
".
M.
[Vol.
Denom.
$10,000
$5,000.
in
1924,
1925,
1927 and
Due
on
Sept.
1
as
fol¬
1928, $15,000 in 1929,
"
Int. semi-ann. at office of City Chamberlain.
check for 2% of bid required.
.
Cert,
-
,
house bonds.
CLAY COUNTY
—This county
$1,000.
Int.
(P. O. Hayesville), No. Caro.—BOND OFFERING.
is offering for sale $75,000 5% 30-yr. coup, bonds. ■ Denom.
W. B. Harrison is County Attorney.
ann.
CLEAR LAKE, Duel County, So. Dak.—BONDS NOT YET SOLD.—
The City Auditor advises us that up to July 10 no sale had yet been made
the $10,000 5% 5-20-year (opt.) city-hall-bldg. bonds.mentioned in
V. 96, p. 1716.
s
of
.
CLOVIS,
Fresno County,
Cal.—BONDS NOT SOLD.—No
been made of the two issues of 5%
May 26
(V. 96,
p.
COATESVILLE
sale has
bonds, aggregating $49,000, offered
on
1436.)
SCHOOL DISTRICT
(P. O. Coatesville), Chester
County, Pa.—BOND SALE.—We are advised by the Secy, of the Board
of Education that this district has sold at par the $36,000 4}4%
coupon or
reg. or tax-free bldg. bonds series E offered on April 28 (V. 96, p. 1244.)
COLUMBUS,
until 12
m.
Ohio.—BOND OFFERING.—Proposals will be received
Aug. 26 by J. T. Barr, Clerk, of Council, for the following 5%
bonds:
$35,000 Livingston
Ave.
storm-sewer
bonds.
Denom.
$1,000.
Date
Aug. 1 1913.
Due Mar. 1 1943.
10,000 sewer-repair bonds.
Denom. $1,000.
Date Aug. 1 1913.
Due
Sept. 1 1933.
11,000 municipal stables and barns ext. bonds.
Denom. $1,000.
Date
Aug. 1 1913.
Due Sept. 1 1933.
1,500 street-impt. bonds.
Denom. $500.
Date Aug. 1 1913.
Due
Sept. 1 1924, opt. after Sept. 1 1914.
13,000 market-repair bonds.
Denom. $1,000.
Date July 8 1913.
Due
Sept. 1 1923.
10,000 fire-plug bonds.
Denom.
$1,000.
Date
July 8
1913.
Due
Sept. 1 1933.
3,000 Sixth St. ext. bonds.
Denom. $1,000.
Date July 8 1913.
Due
Sept. 1 1933.
"
■
'
I
7,000 refuse and garbage-collection additional building and
equipment
bonds. Denom. $1,000.
Date Aug. 11913.
Due Sept. 1 1943.
.
The
official notice of this bond offering will be found
ments elsewhere in this
among the advertise¬
Department.
EVERETT, Middlesex County, Mass.—NOTE SALE.—On June 23
$60,000 4H% coupon tax-free municipal loan notes were awarded to
Merrill, Oldham & Co. of Boston at 100.219, it is stated. • Denom. (10)
$820, (5) $360, (50) $1,000.
Date July 1 1913.
Int. J. & J. at Old
Colony Trust Co., Boston.
Due $8,180yearly on July 1 from 1914 to 1918.
inclusive, and $3,820 yearly on July 1 from 1919 to 1923, inclusive.
FALLS
COUNTY
LINE
COMMON
SCHOOL
DISTRICT
NO.
55.
Tex.—BOND SALE.—On July 10 $2,400 5% 10-40-yr. (opt.) bonds dated
Feb. 15 were purchased by the State School Fund at par and int.
FORT WORTH, Tarrant County, Tex.—BOND OFFERING .^-Ac¬
cording to reports, proposals will be received until Sept. 1 by R. F. Milan
Mavor, for the $300,000 5% water-works bonds voted April 8 (V. 96
d.
1171).
FRANKLIN COUNTY (P. O. Malone), N. Y.—BOND SALE.—On
July 22 the $100,000 4H % 2-11-yr. (ser.) reg. highway-impt. bonds (V. 97.
p. 190) were awarded to Farson, Son & Co. of N. Y. at 100.537 and int!
Adams & Co. of N. Y. bid 100.030.
FRANKLIN COUNTY (P. O. Columbus), Ohio.—BOND OFFERING
—Proposals will be received until 10 a. m. Aug. 8 by the Bd. of Co. Commrs*.
J. Scott, Clerk, for the following 5% road-impt. bonds:
Due $18,000 yrlv
$54,000 Columbus & Dublin Road impt. bonds.
on
Aug. 1 from 1916 to 1918 incl.
8'000?30oToeopSgRrfstfMis: Due $2'000 onAug-11916and
Denom. $500.
Date Aug. 1 1913.
Int. F. & A.
Cert, check on a
Franklin County nat. bank or trust co. (or cash) for
1% of bonds bid for
payable to Board of County Commissioners, required.
FRANKLINTON, Franklin County, No. Caro.—BOND SALE
advises us under date of July 19, ,that the
$12,000 6%
st.-impt. bonds offered on May 24 (V, 96, p. 1437) were awarded
to the Security Savs. Bank & Tr. Co. of Toledo at 102.3 and
printed bonds
FREDERICK COUNTY (P. O. Frederick), Md.—BOND
SALE—
On June 24 the $25,000 4M% coup, tax-free bonds offered without
success
The Town Treas.
coup,
May 1 (V. 96, p.
and int.
on
965) were awarded to the
Central Tr. Co. of Frederick
at par
has decided to
County
Education
DISTRICT (P. O. Fredonia), Wilson
OFFERING.—Reports state that the Board of
sell the $56,700 5% school bonds recently voted.
FREMONT, Sandusky County, Ohio.—BOND OFFERING.—Pro¬
posals will be received until 2 p. ra. Aug. 11 by the Council Clerk for
5% coup, flood-emergency bonds.
Auth. Sec. 3939, Gen. Code.
$500.Date Aug. 1 1913.
Int. A. & O. Due $500 each six months from
Apr. 1 1914 to Oct. 1 1923 incl.
Cert, check for $200 required. Purchaser
,
$10,000
Denom.
accrued int.
Bids must be unconditional.
GENESEE COUNTY (P.1 O. Flint). Mich.—BONDS A WARDED IN
PART.—The Co. Clerk advises us that $25,000 of the $100,000 4
% series
"D" road bonds, offered on May 23 (V. 96, p.1437) have been awarded to
the Genesee Co. Savs. Bank at par and int. Due Mar. 15 1928.
to pay
GONZALES, Tex.—BOND SALE.—This city on July 10
State School Fund at par and int. $4,000 5% 20-40-yr. (opt.)
bonds dated April 1.
sold to the
school house
.
SCHOOL DISTRICT (P. O. Grove City), Mercer
County. Pa.—BOND SALE.—We are advised that the $75,000 4
tax-free building bonds offered without success on June 12 (V. 96, p. 1786)
were later sold to J. S. & W. S. Kuhn, Inc., of Pittsburgh.
GROVE
CITY
of Cincinnati
Int. M. & N.
LAFAYETTE, Yamhill
to Issue
O.
Kenton), Ohio.—BOND SALE.—It
LAWRENCE COUNTY
17 the $20,000 5%
On July
reports state, to
is
on
to
-
years
Hazelton),
O.
(P.
p.
ing
ing
:
;
-V "
annual.
;
(opt.) bonds dated June 24.
COUNTY ROAD DISTRICT NO. 3, Ark .—BONDS OFBANKERS.—Whitaker & Co. of St. Louis are offering to in¬
vestors the $85,000 6% bonds (V. 96, p. 1787).
Denom. $500 and $1,000.
Date on or about Aug. 1 1913.
Int. F. & A. at St. Louis Union Trust Co.,
St. Louis.
Due $2,000 in 1914, $2,500 1915 to 1918. incl., $3,000 in 1919.
1920 and 1921, $3,500 in 1922 and 1923, $4,000 in 1924 and 1925, $4,500
in 1926 and 1927, $5,000 in 1928 and 1929, $5,500 in 1930, $6,000 in 1931
and 1932 and $12,500 in 1933.
Assessed valuation 1912, $715,550; esti¬
LONOKE
Luzerne
for
97,
■
mated real value,
HOQUIAM
SCHOOL
DISTRICT
(P.
O.
Hoquiam),
|
Chehalia
to newspaper reports,
15 on the question of is¬
HUMBOLDT, Richardson County. Neb.—BONDS VOTED.—By a
53, the question of issuing water-ext. bonds carried, it is
reported, at the election held July 10.
io.—BOND SALE.—The
HURON COUNTY (P. O. Norwalk),
bonds offered on May 26
$38,000 5K% coup, bridge-impt. and const:
advised, to Seasongood
(V. 96, p. 1438) were awarded, we have just
& Mayer of Cincinnati at 103.65.
IDAHO.—BONDS NOT SOLD.—The State Treasurer advises us that
no sale has been made of the five issues of 4% 10-20-year (opt.) bonds, ag¬
gregating $279,000, offered without success on Apr. 30 (V. 96, p.
ILION, Herkimer County, N. Y.—BOND SALE.—The $135,000 paving bonds offered on June 14 (V. 96, p. 1718) were awarded to Adams
of N. Y. at par for 5s.
Date July 1 1913.
.
1854).
& Co
JANESVILLE, Rock County, Wis.—BONDS VOTED.—The
of issuing the $38,000 Milwaukee Street bridge-constr. bonds
p. 1786) carried, it is stated, at the election held July 2.
question
(V. 96,
COUNTY (P. O. Fairfield), Iowa.—BOND SALE.—
Reports state that this county has disposed of $18,000 5% sheriff's residence
and jail bonds.
These securities were offered without success as 4Hs on
May 26 (V. 97, p. 67.)
JENNINGS TOWNSHIP (P. O. Connersville), Fayette County,
Ind.—BOND SALE.—On July 23 the $6,592 school bonds (V. 97. p. 131)
were awarded to the Farmers' & Merchants' Tr. Co. of Connersville at
JEFFERSON
100.121+.
CITY SCHOOL DISTRICT (P. O. Kansas
BOND OFFERING.—E. F. Swinney, Dist. Treas., is offering
KANSAS
$1,750,000 bldg. and $250,000 library-impt. 4H%
(V. 96, p. 164§).
Denom. $1,000.
Int. J. & J. at Nat. Bank of Commerce. New York.
the
bonds voted May 31
City), Mo,
at private sale
20-year gold coup,
Date July 1 1913.
KIMBALL, Brule County, So. Dak.—BONDS VOTED.—It is reported
that this place on July 11 voted $15,000 bonds for sinking an artesian well
KING COUNTY SCHOOL DISTRICT NO.
144, Wash.—BOND
SALE.—On July 12 the $12,000 1-20-yr. (opt.) coupop bldg. and equip,
bonds (V. 97, p. 67) were awarded to the State of Washington at par for 5s.
There were no other bidders.
„
KING COUNTY SCHOOL DISTRICT NO.
181, Wash.—BOND
OFFERING.—Proposals will be received until 10 a. m. Aug. 2 by W. H.
Hanna, County Treas. (P. O. Seattle), for $4,500 2-20-yr. (opt.) coup
construction and equip, bonds.
Auth. election held June 30.
Denom.
$500.
Int. (rate not to exceed 6%) ann. at office of Co. Treas. or at fiscal
agency of State of Washington in N. Y.
Cert, check or draft for 1% of
bonds bid for, payable to Co. Treas., required, except with bid from State
of Washington.
Bonds to be ready for delivery Aug. 15 1913.
Bonded
debt, none. Outstanding warrants, $60. Assessed valuation, $304,569.
KING COUNTY SCHOOL DISTRICT NO.
182, Wash.—BOND
SALE.—On July 12 the $6,000 5-10-yr. (opt.) coup. bldg. and equip, bonds
(V. 97, p. 67) were awarded to the State or Washington as 5^s at par. It is
also stipulated that the bonds may be redeemed after one year.
W. D.
Perkins & Co. of Seattle bid 100.5 for 6s.
KITE,
Johnson
County,
Ga.—BOND
OFFERING.—Proposals will
Aug. 6 by J. S. Stephenson, Town Clerk, for the
$3,000 6% 20-year building bonds voted May 15 (Y. 96, p. 1511).
Denom.
$100.
Date May 15 1913.
Int. annually.
Certified check for 10% of
bid, payable to Town Clerk, required.
KNOX COUNTY (P. O. Vincennes), Ind.—BOND OFFERING.—Pro¬
be received until 12 m.
posals will be received until 2 p. m. Aug. 2 by W. E. Ruble, County Treas
for the follwoing 4tf% road-impt. bonds:
$10,330 J. A. Wilson et al road bonds.
Denom. $516 50.
4,480 G. H. Miller et al road bonds.
Denom. $224.
2,920 L. Pepmeier et, al road bonds.
Denom. $146.
950 S. T. Demoss et al road bonds.
Denom. $47 50..
4,960 M. Ross et al road bonds.
Denom. $245.
•
.
"
5,060 L. Morgan et al road bonds.
Denom. $253.
1,310 J. B. Simonson et al road bonds.
Denom. $65 50.
4,670 C. WS Burnett et al road bonds.
Denom. $233 50.
2,900 E. Silwault et al road bonds.
Denom. $146 50.
Date July 8 1913.
Int. M. & N.
Due part each six months on May 15
and Nov. 15.
.
v
•
.
LOS ANGELES,
Modoc County, Cal.—BOND
has been awarded to W. Kramer,
•
Cal.—BOND SALE.—The Chief Deputy City Aud.
bonds, the unsold portion of
the city "Aqueduct" Sinking
the $990,000 city-trunk-line
$1,500,000 (V. 96, p.1646), have been sold tp
advises us that
vote of 268 to
■
$2,500,000.
LOOKOUT SCHOOL DISTRICT,
SALE.—An issue of $2,000 school bonds
it is stated.
& Co. of Chicago at 100.217+ and
County, Wash.—BONDS VOTED.—According
vote 417 to 31 was cast at the election held July
suing $90,000 building bonds.
Bonds will be
SCHOOL DISTRICT (P. O. Long
FERED BY
<
a
equip, bonds. Denom. $1,000. Date
1 at office of City Treas. Due $10,000
incl.
5% 20-40-vr.
HILLSBOROUGH COUNTY (P. O. Tampa), Fla.—BOND SALE.—
On July 19 the three issues of 6% school bonds, aggregating $46,000 (V. 97,
t.
£)ate awarded to
&67), wereJuly 1 1913. Cutter, May
OFFERING.—Proposals
B. M. Hutcheson, City Treas., for
Cert, check for 2% of bid, payable
registered as to principal.
Beach), Los An¬
geles County, Cal.—BOND SALE.—According to reports, the State
Board of Control has agreed to purchase $27,000 bonds of this district.
LONG VIEW INDEPENDENT SCHOOL DISTRICT, Tex.—BOND
SALE.—On July 10 the State School Fund purchased at par and Int. $3,000
LONG BEACH
Havre), Mont.—BOND
-
County, N. Y.—BOND
until 12 m. July 29 by
$100,000 5% school-impt. and
Aug. 1 1913.
Int. ann. on Nov.
yrly. on Nov. 1 from 1917 to 1926
to *'Clty of Lockport," required.
...•. ..V
ELECTION.—Accord¬
to report, an election will be held Aug. 2 to vote on the question of issu¬
$100,000 road and bridge-impt. and $50,000 funding 5% bonds.
Int.
67).
HILL COUNTY (P. O.
'
after date.
LOCKPORT, Niagara
,
DISTRICT
$13,000 sewer bonds was awarded to Douglas Fen wick & Co. of
for 4.85s.
Denom. $500. Due $1,000 yearly, beginning 5
will be received
Ohio.—BOND SALE—On July 18 the
130) were awarded to the First
There were no other bidders.
HAYWARD, Alameda County, Cal.—BOND SALE.—The First NatBank of Hayward was awarded the $14,000 fire-dept, bonds (V. 96, pSCHOOL
issue of
N. Y. at par
Wood County,
HAZELTON
County,
n- Y.—BOND SALE.—On Mayl3
LESTERSHIRE, Broome County,
an
$1,500 6% street-impt. bonds (V. 97, p.
Nat.' Bank of Barnesville at 100.4 and int.
County, Pa.—BONDS NOT SOLD.—No bids were received on July 22
the $80,000 4M % coup, tax-free school bonds offered on that day (V.
E. Beman of Centreville.
TOWNSHIP (P. O. Stockwell), Tippecanoe
cording to reports.
(P.O. Cory don), Ind.—BOND OFFERING.—
will receive proposals until 2 p. m. Aug. 2, it is
stated, for $14,720 highway-impt. bonds.
<
HARTFORD, Washington County, Wis.—BOND SALE.—An issue
of $44,000 high-school bonds was awarded to the First Nat. Bank of Ilartfordas4.90s.
Denom. $500.
1718) at par.
"
SALE—The $30,000 4M% 15-yr. school bonds offered on
May 22 (V. 96, p. 1377) were awarded to J. F. Wild & Co. of Indianapolis.
LEMING SCHOOL DISTRICT (P. O. Leming , Atascosa County,
Tex.—BONDS VOTED.—This district recently voted school bonds, ac¬
HARRISON COUNTY
HASKINS,
...
(P. O. Ironton), Ohio.—BOND ~ SALE.—
bridge bonds (V. 96, p. 1855) were awarded,
State Senator M.
LAWRENCE
J. D. Pitman, Co. Treas.,
■
;
Ind.—BOND
$68,500
loc&l banks.
.
VOTED.—This district recently voted
County, Tex.—BONDS
$5,000 school bonds.
LANGDON SCHOOL DISTRICT (P. O. Langdon), Reno County,
Kan .—BONDS VOTED.—By a vote of 71 to 12 the question of issuing
$8,000 bldg. bonds carried, reports state, at the election held July 15.
LARGO SCHOOL DISTRICT NO. 8 (P. O. Largo), Pinellas County,
Fla.—BONDS VOTED.—A favorable vote was cast at the election held
July 12, It Is stated, on the question of issuing $16,000 bldg. bonds.
LAWRENCE, Nassau County, N. Y.—BOND SALE.—The $7,500
reg. gold bridge bonds offered on May 17 (V. 96, p. 1377) were awarded to
R. D. White at 100.046+
for 4.80s. >
HAMTRAMCK, Wayne County, Mich.—BONDS VOTED.—'The ques¬
of issuing the $40,000 30-year water-works bonds at not exceeding
5% (V. 97, p. 130) carried at the election held July 21 by a vote of 140 to 14.
HANCOCK COUNTY (P. O. Greenfield), Ind.—BOND SALE.—
On July 22 the $9,000 4M % road-impt. bonds (V. 97, p. 191) were awarded
to W. Lantz at 100.187 + .
Denom. $450.
Date July 7 1913. Int. M. &
N. • Due part each six months, beginning May 15 1914.
(P.
Date May 1 1913.
INDEPENDENT SCHOOL DISTRICT (P. O. La Feria),
LA FERIA
tion
COUNTY
Denom. $500.
County, Ore.—BOND SALE NOT CONSUM¬
sale of water bonds to
Cameron
COUNTY (P. O. Cincinnati), Ohio.—BOND OFFER¬
ING.—Proposals will be received until 12m. Aug. 1 by A. Bernhardt, Clerk
Bd. of Co. Commrs., for $336,888 13 4^% 30-yr. flood-emergency bonds.
Denom. (673) $500, (1) $388 13.
Date Aug. 1 1913. Int. F. & A. at
office of Co. Treas.
Cert, check for $5% of bonds bid for, payable to
Board of County Commissioners, required.
reported that the four issues of 5% coupon bonds, aggregating
(v. 97, p. 191), offered without success on July, 21, were awarded
July 22—$10,000 to A.Augburger at 10 .05 and int. and the remainder
at 102.055+.
MATED.—Newspaper reports state that the recent
Glenn & Co. of Portland was not consummated.
HAMILTON
HARDIN
Knox County, Tenn.—BOND SALE.—The $18,000
bonds (V. 96, p. 1246) were awarded to Mayer, Deppe &
KNOXVILLE,
6% 10-yr. sewer
Walter
FREDONIA SCHOOL
Kan.—BOND
2.VA
CHRONICLE
THE
1913.]
July 26
Fund.
'
•
.
LOWELL, Middlesex County, Mass.—BOND SALE.—On July
$166,500 4M% coupon or registered municipal bonds were awarded
R. L. Day & Co. of Boston at 100.519.
Date July 1 1913. Int. J. &
19
to
J.
yearly from 1914 to 1923.
McCLURE, Henry County, Ohio.—BOND SALE.—On July 22 the
$9,000 6% E. Main St. Impt. bonds (V. 97, p. 131) were awarded to the
Durbin Bank of McClure at 102 333 +.
Other bidders were:
The Napoleon State Bank
$9,1801 First Nat. Bank, Barnesville.$9,022
Spitzer. Rorick & Co;, Toledo. 9,0501
"
McDOWELL COUNTY (P. O. Marion), No. Caro.—BONDS NOT
SOLD.—We are advised that no sale has been made of the three Issues of
5H% township bonds, aggregating $80,000, described in Y. 96, p. 1787.
MADISON COUNTY (P. O. Madison), Fla.—BOND OFFERING.—
Proposals will be received on or before 30 days from July 4 by D. F. Burnett
Jr., Clerk of Circuit Court, for $50,000 5% 30-year bonds.
Denom. to
suit purchaser.
Date July 1 1913.
Int. J. & J. Certified check for 5%
of amount offered, payable to L. S. Warren, County Treasurer, required.
A like amount of bonds was awarded on May 5 to Sutherlin & Co. of
Kansas City, but that sale was not consummated.
Due part
MADISON COUNTY (P. O. Canton),
Reports
state that
Miss.—TEMPORARY LOAN.—
this county has borrowed
• [
$10,009 from the Capital
National Bank at 6% interest.
MAHNOMEN,
Mahnomen
County,
Minn.—BOND
$5,000 6% 15-year refunding bonds offered on May 5 (V. 96,
been sold to the Wells & Dickey Co. of St. Paul at par.
SALE.—The
p.
1247) have
N. Y.—BOND OFFERINGm. Aug. 4 by J. H. McArdle, Town
MAMARONECK, Westchester County,
Proposals will be received until 8 p.
Supervisor, for the following bonds:
Due part yearly from
$10,000 4H% sidewalk bonds.
1927, inclusive.
10,000
5%
road-impt. bonds.
Sap*. 1 1918 to
Due part yearly from Sept.
1 1923 to
1932, inclusive.
Denom.
assessed valuation
The
Int. U. AS.
Date Sept. 11913.
$1,000.
Total debt. $77,000;
1912, $13,602,153.
official notice of this bond offering
this Department.
teill be found among the advertise¬
ments elsewhere in
MANHATTAN BEACH SCHOOL
■
DISTRICT, Los Angeles County,
Cal.—BOND OFFERING.—According to reports,
proposals will be received
H. J. Leland, County Clerk, for $23,000 5% 1-23Certified check for 3% required.
MARION, Marion County, Ohio.—BOND SALE.—On July 18 the
$4,000 5% coupon Lincoln & Garfield parks-impt. bonds (V. 96, p. 1787)
were awarded to the City Nat. Bank or Marion at 100.0625.
The Marion
until 2 p. m. Aug. 4 by
year
(serial) bonds.
Savs. Bank bid par
and int.
MARION COUNTY (P. O.
Fairmont), W. Va.—BID
REJECTED.—
(Opt.) road
rejected,
Only one bid was received for the $400,000 5% 20-30-year
bonds offered on July 19 (V. 96, p. 1855).
This offer, which was
was at 100.002+, less cost of examining and other expenses.
MARKSVILLE, Avoyelles Parish, La .—BOND
OFFERING.—Propos¬
by the City Clerk for $12,000 5%
$500, (2) $1,000, (6) $1,500. Due
beginning 1917.
Certified check for 5% required.
MARSHALL COUNTY (P. O. Plymouth), Ind.—BOND OFFERING.
—According to reports, proposals will be received by Geo. A. Maxey,
County Treasurer, until 2 p. m. Aug. 15, it is stated, for $16,200 and $14,als will be received until 12 m. Aug. 6
serial bonds.
Denom. (12) $250, (16)
550
highway-improvement bonds.
MART, McLennan County, Tex.—BONDS VOTED.—The question
$30,000 street bonds carried at a recent election.
MAYFIELD SCHOOL DISTRICT (P. O. Mayfield), Santa Clara
County, Cal.—BONDS VOTED.—According to newspaper reports, this
district recently voted $1,000 2-yr. school bonds.
Denom. $500. ••
MAYVILLE SCHOOL DISTRICT (P. O. Mayville), Tuscola County,
Mich.—BOND SALE.—On June 25 the $5,000 5% impt. bonds voted
June 9 (V. 96, p. 1787) were awarded to R. A. Croban, through the Mich.
Savs. Bank of Vassar.at 101.5.
Denom. $1,000.
Date July 10, 1913.
Int. ann in July.
Due $1,000 yrly on July 10 from 1918 to 1922, incl.
of issuing
MECKLENBURG COUNTY (P. O. Charlotte), No. Caro.—BOND
OFFERING.—Proposals will be received until 11 a. m. Aug. 9 (not Aug. 4
as at first reported) bv the Board of Co. Commrs., W. M. Long, Chairman,
for not less than $95,000 nor more than $110,000 4\^% 30-yr. special-impt.
bonds (V. 97, p. 192).
Denom. $1,000.
Date Sept. 1 1913. Int. M.&S.
at place to be agreed upon.
Cert, check or bank draft for $1,000, payable
to County Tfeas.. required.
,
.
1 . .
THE
CHRONICLE
MELROSE, Middlesex County, Mass.—NOTE OFFERING.—Proposals
will
[Vol.
xcvii.
OSAWATOMIE, Miami County, Kans.—BOND SALE.—The
$30,000
5% st. impt. bonds offered on May 26 (V. 96,
p. 1513), were sold at 102,643.
Denom. $500.
Date June 1 1913.
Int. J and D. Due June
11923* sub¬
ject to call $2,000 yrly.
be received until 12 m.
July 29 by W. R. Lavender, City Treas., for
$25,000 4H% tax-free
coup. Main St. impt. notes.
Denom. $2,500.
Date July 1 1913.
Int. .T and J at Second Nat. Bank, Boston, Due $2,500
yrly. on July, 1, from 1914 to 1923 incL
These bonds will be certified as
to genuineness
by the Old Colony Tr. Co. and their legality will be approved
by Ropes, Gray and Gorham of Boston, whose
opinion will be furnished
charge.
N.
OXFORD SCHOOL DISTRICT (P. O.
Oxford), Warren County,
J.—BONDS VOTED.—According to reports, this
district on July 19
without
voted, 84 to 11, to issue $12,000 school bonds.
Lake
MENTOR VILLAGE SCHOOL
DISTRICT (P. O. Wes^ Mentor),
County, Ohio.—BOND OFFERING.—Proposals will be received
Aug. 9 by T. D. Morley, Clerk Bd. of Ed. (P. O. West
Mentor), for $10,000 0% school bonds.
Auth. Sees. 7625 to 7627 inch,
5%
until 7:30 p. m.
been
Gen. Code.
Denom. $500.
Date "day of sale":
Int. M. & S: at office
of Dist. Treas.
Due each six months from Mar. 1 1915.
PALMS SCHOOL DISTRICT, Los
Angeles County; Cal.—BOND
OFFERING.—H. J. Leland, County Clerk, will
receive proposals until
2 p. m. Aug. 4, reports state, for
$60,000 5% 1-30-year
(serial) bonds.
Certified check for 3% required.
PAINESVILLE,
and interest.
MERCER COUNTY (P. O.
Celina), Ohio.—BOND OFFERING .—
Proposals will be received until 12 m. Aug. 5 by the Co. Aud. for the fol¬
lowing 5H% coup, free turnpike bonds:
$30,000 Brown Road bonds.
Due on Sept. 1 as follows: $1,000 yrly. from
PEEKSKILL, Westchester
County, N. Y.—BOND SALE.—We have
just been advised that the $14,238 20 20-year bonds
and a $13,000 1-year
certificate for street-paving purposes
(V. 96, p. 814) were awarded to the
Peekskill Sav. Bank on Mar. 18 at
par for 4V$s.
Denom. of bonds (13)
$1,000, (1) $1,238 20.
Date April 1 1913.
Int. A. & O.
PEND
OREILLE COUNTY
,
1914 to 1917 incl., $1,500 yrly. from 1918 to 1921
inch, $2,000 yrly.
from 1922 to 1925 incl., and $4,000
yrly. from 1926 to 1928 incl.
Cash deposit of $200 required.
,
24,000 Griffith Road bonds.
Due on Sept. 1 as follows: $500 in 1914 and
1915, $1,000 yrly. from 1916 to 1923 incl. and $1,500 yrly. from
1924 to 1933 incl.
Cash deposit of $100 required.
Auth. Sec. 7283, Gen. Code.
Denom. $500.
Date Sept. 1 1913.
Int.
M. & S.
Purchaser to furnish blank bonds at his
own
SCHOOL DISTRICT NO.
1, Wash.—
BOND SALE.—On July 19 $19,000
1-20-yr. (opt.) bldg; bonds were award¬
ed to the State of Washington at
par, $18,000 as 5s and
$1,000 as 6s.
Denom. $500.
Date July 30 1913.
*
expense.
PERRY COUNTY
MIDDLESEX
COUNTY
(P.
O.
Lowell).
Mass .—TEMPORARY
LOAN.—A loan of $100,000, maturing Nov. 6, has been
negotiated with
Loring, Tolman & Tupper of Boston at 5.70% discount.
MIDDLETOWN SCHOOL DISTRICT (P. O.
Middletown), Butler
County, Ohio.—BOND SALE— The $65,000 5% 11^-year (aver.)
coup. bldg. and impt. bonds (V. 97, p. 132) were awarded to Tillotson &
Wolcott Co. of Cleveland on July 22, it is stated.
MILLER COUNTY (P. O.
Tuscumbia), Mo.—BOND OFFERING.-^Proposals will be received until 12 m. Aug. 22 by W. B. Martin, Co.
Treas.,
for $10,000 5% 0-10-yr.
(opt.) court-house-completion bonds.
Denom.
$100.
Date July 1 1913.
Int. J. & J.
MINEOLA, Nassau County, N. Y.—BOND SALE.—The $8,000
i
works bonds
(V. 96, p. 1316)
were awarded to Adams
reports, this district at
Sweet & Co. of Denver.
Other bidders
were:
declared void.
were
NEW
BOSTON
Portsmouth at 100.02.
There were
no
other bidders.
NEW HANOVER COUNTY (P. O.
Wilmington), No. Caro.—BOND
be received until 3:30 p. m, Aug, 18
by Board
of Commisssioners, M. S.
Willard, Chairman, for $50,000 of an issue of
$100,000 road and $75,000 of an issue of $175:000
OFFERING.—Proposals will
4H% 25-year
coup,
Int. J. & J.
1913.
bonds voted May 27
school-improvement
Date July 1
(V. 96, p. 966)..
Cert, check for 5% of bid
required.
NEWPORT, Campbell County, Ky.—BOND OFFERING.—W. A.
Eimer, Commissioner of Finance, will receive proposals until 12
m. July 16
and every Wednesday thereafter until
issue is disposed of for the
purchase
of any part of the $50,000 4%
30-yr. coup, st.-impt. bonds offered without
success on July 7 (V. 97,
p. 132).
Denom. $500.
Date July 11912.
Int.
J. & J.
No deposit required*
NEZ
PERCE, Lewis County, Idaho.—BONDS VOTED.—On
July 7
the question of issuing $8,000
street-impt. and fire-dept.-impt. bonds car¬
ried. it is
stated.
recent election voted to issue
4j^% school bonds (V. 97,
p.
to
newspaper
$5,000 impt. bonds.
192)
Oldham & Co. of Boston at 102.099 and
int.
Blake Bros. & Co., Boston._lOl .31
N. W. Harris & Co., Boston. 101.287
Adams & Co.. Boston
101.23
were awarded to Merrill,
Other bidders were:
Blodget&Co., Boston
101.18
Perry, Coffin & Burr, Bos::101.052
Curtis & Sanger. Boston
101.04
PLEASANT VALLEY, Ohio County, W.
Va.—BOND OFFERING.—
Proposals will be received until 3 p. m. Aug. 9 by H.
Speidel or E. Stifel,
Commrs. (care of City Bank,
Wheeling), for $10,000 5% street-impt. bonds.
Auth. vote of 31 to 9 at election held July 7.
Denom. $500.
Date July 1
1913.
Due $5,000 July 1 1923 and $500
yrly thereafter.
POLK COUNTY (P. O.
Benton), Tenn.—BOND SALE.—On July 1
Mayer, Deppe & Walter of Cincinnati were awarded the
$80,000 6% 1-30(ser.) highway and bridge bonds (V. 96,
p. 1788) at 104.268 +.
Denom,
$1,000.
Date July 1 1913.
Int. J. & J.
yr.
PONTIAC, Oakland County, Mich.—BOND
OFFERING.—Proposals
will be received until 1:30
p. m. July 28 by C. L. Groesbeck, City Clerk,
for $50,000 paving
(assess.) bonds at not exceeding 5)4%. ' Date
Aug. 1
1913.,
Int. F. & A.
Due $10,000 yrly. from 1914 to
1918 incl.
Cert,
check for 5~% of bid required.
Purchaser to pay for printing and litho¬
graphing of said bonds.
PORTSMOUTH, Scioto County, Ohio.—BOND SALE.—On
July 22
the $10,000 5% coupon
flood-emergency bonds (V. 97, p. 69) were awarded
to Weil, Roth & Co. of Cincinnati at
100.2 and interest.
BONDS NOT SOLD.—No bids were
received on July 22 for the three
issues of 5% coupon bonds,
•
aggregating $129,000 (V. 97,
that day.
PRENTISS
,
TILLAGE SCHOOL
DISTRICT, Scioto County,
Ohio.—BOND SALE.—On July 18 the $5,000 5%
school-impt. bonds
(V. 96, p. 1855) were awarded, it is stated, to the Ohio
Valley Bank of
VOTED.—According
a
Estabrook & Co., Boston..1101.79
,
Wright & Co., Denver (for 5Hs)_.
$30,200
Causey, Foster & Co., Denver (for 6s)
30,102
NEOSHO
FALLS, Woodson County, Kan.—BONDS VOTED.—
An election held July 17 resulted, it is
stated, in favor of the question of
issuing electric-light-plant bonds.
At an election held Mar. 4
last, the issu¬
ance of $6,000
lighting-system bonds received a favorable vote (V. 96,
p.
966), but, owing to some irregularity in
advertising the election, the bonds
There
PITTSFIELD, Berkshire County. Mass.—BOND SALE.—On
July 23
the $220,000
OFFERING.—
J. N.
other bidders.
(P. O. Magnolia), Miss.—BONDS NOT
SOLD.—No
bids were received, it is stated, for
the $200,000 5H% road bonds
offered
on July 7 (V. 96,
p. 1721).
PISGAH INDEPENDENT SCHOOL DISTRICT
(P. O. Pisgah),
Harrison County, Iowa.—BONDS
MONROE COUNTY (P. O.
Bloomington)!, Ind.—BOND OFFERING.
—Proposals will be received until 2 p. m. July 29
by W. W. Weaver, Co.
Treas., for the following 4H% road-impt. bonds
$6,850 J. T. Acuff Road bonds.
Denom. $342 50.; Date July 15 1913*
5,500 T. Headdy Road bonds.
Denom. $275.
Date June 15 1913.
Int. M. & N.
Due part each six months.
MOSCOW. Latah County, Idaho.—BOND SALE.—On
June 14 the
$30,000 municipal coupon bonds (V. 96,
p. 1647) were awarded to W. E.
int.
PIKE COUNTY
water¬
Proposals will be received until 3
p.m. Aug. 29 by S. Frontis, Mayor, for
$20,000 water-system-ext., $30,000
sewerage-system and $15,000 streetimprovement 5%
30-year coup, bonds.
Int.
semi-annual.
Certified
check for 5% of bonds bid for
required.
SALE.—
road-impt. bonds (V. 96, p. 1856) were awared
Perry County Bank Co. of New Lexington at 100.3
and
were no
MINNEAPOLIS; Minn.—BOND SALE.—An issue of $25,000 10-yr.
fire-dept. equip, bonds was awarded, it is stated, to the
Minneapolis Fire
Dept. Relief Association at 95.
MOORESVILLE, Iredell County, No. Caro.—BOND
(P. O. New Lexington), Ohio.—BOND
On July 18 the $45,000
5%
to the
& Co. of N. Y. at
for 5s.
par
Lake County, Ohio.—BOND SALE.—The
$86,000
bonds, offered without.success on June 28 (V.
97,_p. 132), have
awarded, reports state, to Spitzer, Rorick & Co. of
Toledo at par
coupon
Newspaper
COUNTY
(P.
reports state that
$40,000 road bonds.
,
p,
69) offered
on
O. Booneville), Miss.—BOND SALE.—
this county recently sold to local banks
,
PRIEST LAKE SCHOOL
DISTRICT, Bonner County, Idaho.—
BONDS VOTED.—Local newspaper
reports state that this district re¬
cently voted $15,500 building bonds.
PRINCETON GRAMMAR SCHOOL
DISTRICT, Colusa County,
Cal.—BOND OFFERING.—The Board of Co.
Supervisors (P. O. Colusa)
6 for the $12,000 school bonds
recently
will receive proposals until
Aug.
voted.
-
PULASKI COUNTY (P. O.
Winamac), Ind.—BOND SALE.—The
$2,900 414% road brtnds offered on
July 8 (V. 97,- p.69) were awarded to
W. H. Paul at par and int. Denom.
$145. Date May 6 1913. Int. M. & N.
PUTNAM COUNTY (P. O.
Brewster), N. Y.—BOND SALE.—On
July 21 the $38,000 4% % highway-impt. bonds (V. 97
p. 133) were awarded
to the I. W.
Sherrill Co. of
Poughkeepsie
at 100.27 and int.
*
.
PUTNAM
COUNTY (P. O.
Ottawa), Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 4 by J. E. Roose,
County Aud.,
for $30,000 5% J. W. Butler joint
county ditch impt. bonds.
Auth. Sec.
6489, Gen. Code.
Denom. $1,000.
Date Sept. 1 1913.
Int. M. & S.
at office of County Treas.
Due $15,000 in 1914 and 1915.
Cert, check
on an Ottawa bank for
$1,000, payable to County Aud., required. Pur¬
NIAGARA FALLS, Niagara
County, N. Y.—BOND OFFERING.—
Proposals will be received until 10 a. m. July 30 by the Board of
Estimate
and Apportionment, T. H.
Hogan, City Clerk, for $68,800
5% gold city-hall-site bonds, Series "A."
Denom. (68) $1,000, (1) $800.
Int. J. & J.
at Hanover Nat. Bank,
N.-Y.; in New York exchange to reg. holders.
Due
July 1 1933*
Cert, check on a solvent banking
corporation for $1,000,
payable to City Clerk, required.
Bonds to be delivered and paid for within
3 weeks from time of award.
These bonds were offered without
success
as 4Mb on June 24 (V.
96, p. 1720).
—Further details
NILES, Trumbull County, Ohio.—BONDS NOT SOLD.—We are
ad¬
no sale was made on
Apr. 27 of the three issues of
5% streetimpt. (assess.) bonds, aggregating $25,409 (V. 96,
p. 1041), offered on that
day as "they were all canceled."
June 26 1913.
months.
..
vised that
chaser
held July
Niles), Trumbull County, Ohio.
SALE.—Reports state that Stacey & Braun were awarded the
$96,000 5% bldg. and impt. bonds
mentioned in last week's "Chronicle"
100.68.
at
v
NOBLE TOWNSHIP (P. O.
Rushville),
AWARDED.—An issue of $12,700
to
a
local bank at par, it is stated.
Rush
County,
Ind.—
school-building bonds
was
NORTH ATTLEBORO, Bristol
County, Mass.—LOAN NOT SOLD.
—Reports state that no bids were received for a $40,000 six
months' loan
recently offered.
"
\
NORTH KANSAS CITY SCHOOL
DISTRICT (P. O. Kansas
City) j
Jackson County, Mo.—BONDS VOTED.—A
favorable vote was cast at
the election
recently held on the proposition to issue $5,000
bldg. bonds,,
it is stated.
OAK LAWN SCHOOL DISTRICT NO.
4, Crow Wing County,
Minn.—BONDS VOTED.—Reports state that this
district recently voted
$1,200 building bonds,
OAKWOOD
SCHOOL
DISTRICT
(P.
O.
Oakwood), Vermillion
County, 111.—BOND OFFERING.—Proposals will be received
until 12 m.
July 30 for the $9,000 5%
site-purchase and construction bonds (V. 96, p.
1855.)
1913.
incl.
Authority election held June 14.
Denom. $1,000.
Date April 1
Int. ann. on
Apr. 1.
Due $1,000 yrly. on April 1 from 1916 to 1924
A. C. Andrews
OGDEN,
is
Clerk
Weber
County, Utah.—BOND ELECTION.—An election
will be held July. 28, reports
state, to submit to a vote the question of
issuing
$75,000 5% South Park reservoir-constr. bonds.
Denom. $1,000.
Int.
semi-ann.
Due $25,000 in 5. 6 and 7
years
from date.
OKMULGEE,
Okmulgee County, Okla.—BOND OFFERING.—This
city is offering for sale the $100,000
5% railroad bonds (V. 97, p. 192).
Auth. vote of 320 to 84 at
the election held July 8. Due
July 15 1938.
OLIO SCHOOL
$4
OOO^sch STbo
DISTRICT, Kern County, Cal.—BOND
^oar
Supervisors have ordered
OFFERING.
the sale of
ORIENTAL. Pamlico
County, No. Caro.—BOND OFFERING.—
Proposals will be received until 12 m.
Aug. 5 by A. W. Haskins, Sec'y of
School Board, for
$7,000 6% 20-year coup,
building and equipment bonds.
Int. semi-ann. at
any bank to suit purchasers.
Cert, check for 3% of
bonds bid for required.
Bidders
blank
bonds.
12.
ceived until
10
a.
m.
on
berethat day by H. F. Wood,
County Aud.
Date
Due $6,000 in 12 months and
$6,000 in 18
Int. J. & D.
V
RACINE, Racine County, Wis.—BOND OFFERING.—Proposals will
be received until 2 p. m. Aug. 5 by A. J. Eisenhut,
City Treas.,
of an issue of $95,000 4)4 % school bldg. bonds
authorized
for $35,000
Apr. 1 (V. 96,
1574).
Denom. $1,000.
Date Jurte 1 1913.
Int. J and D at office
of City Treas.
Due $1,000 yearly on June 1, from 1914 to 1918 incl. and
$2,000 yearly on June 1 from 1919 to 1933 incl.
Successful bidder to
furnish a cert, check for $2,000, payable to "City of
Racine."
p.
.
BONDS
awarded
furnish
RANDOLPH COUNTY (P. O.
Winchester), Ind.—NOTE OFFERING.
are at hand relative to the
offering on Aug. 15 of the
$12,000 5% notes. (V. 97, p. 133).
Proposals for these notes will
NILES SCHOOL DISTRICT (P. O.
—BOND
to
QUINCY IRRIGATION DISTRICT (P. O. Quincy), Grant
County,
VOTED.—Newspaper dispatches from Wilson Creek
state that the proposition to issue
$200,000 bonds carried at the election
Wash.—BONDS
„
may submit form of bonds.
RAEFORD
GRADED
AND
HIGH
SCHOOL
DISTRICT
(P.
O.
Raeford), Hoke County, No. Caro .—BONDS AWARDED IN PART.—
On July 19 $20,000 of an issue of $35,000 6% school
bonds was awarded
to A. J. Price & Co. at 103.
Purchaser to furnish blank bonds
and pay
attorney's fees.
Int. semi-ann.
We are
$15,000 will be for sale in about one year.
RANKIN
advised
that
the
remaining
COUNTY
(P. O. Brandon), Miss.—BOND
ELECTION.—
An election will be held Aug. 1, it is
reported, to vote on the question of
issuing $75,000 road bonds.
READING, Berks County, Pa .—BONDS AWARDED IN PART.—
Up to July 23 $97,000 of the $300,000 4% tax-free sewer bonds had
sold
over
report
the counter.
This makes
a
(V. 96, p. 1788).
total of
been
$21,000 sold since
our
last
RED LODGE,
Carbon County, Mont .—BONDS NOT
SOLD.—Up to
July 14 no sale had been made of the $30,000 5%
10-20-year (opt.) coupon
water-works bonds offered on May 29 (V. 96, p.
1514).
RICHMOND SCHOOL DISTRICT (P. O.
Richmond), Contra Costa
County, Cal.—BOND ELECTION.—Newspaper reports state
election will be held Aug.
1 to vote
impt. bonds (V. 96, p. 1648).
on
that an
the issuance of the
$150,000 school
RIDGEWOOD, Bergen County, N. J—SALE OF
CERTIFICATES.—
The $10,800 5% street-impt. certificates offered
without success on June 24
(V. 96, p. 1856) have been sold to the First Nat. Bank of
Ridgewood at par.
ROBSTOWN, Nueces County, Tex.—BOND
OFFERING.—This place
5% 5-20-yr, (opt.) bonds.
*
has for sale an issue of $5,000
ROBSTOWN
INDEPENDENT
SCHOOL
DISTRICT,
Nueces
County, Tex.—BOND OFFERINF.—N. Benton,
County Supt. (P. O.
Corpus Christ!), will receive proposals for $20,000
5% 10-40-year (opt.)
school-house bonds.
Assess, val. $1,416,940.
ROCHESTER, W. Y.—NOTE SALE.—On July 22 the
$100,000 sewagedisposal notes (V. 97, p. 193) dated July 25 1913 were awarded
to the East.
Side Sav. Bank of Rochester at 5.50% int.
Other bidders were:
July 26
THE
1913.]
Y.—Entire issue, int., 5.75%; prem., $11 75, ,
Y.—Entire issue, int. 5.75%, prem. $5..
J. H. Bache & Co., N. Y.—Entire issue, int. 5.75%.
Estabrook & Co., N. Y.—Entire issue. Int. 5.80%.
Rochester Tr. & Safe Dep. Co.—Entire issue, Int. 5.875%, prem. $12
Security Tr. Co., Rochester—Entire issue, Int. 6%, prem. $41.
H
Lee Anstey, N. Y.—Entire issue, int. 6%, prem. $1.
50.
ROCHESTER, Beaver County, Pa.—BOND SALE.—We are advised,
that the $40,000 4(4 % coupon bonds offered on May 19 (V. 96, p. 1440)
were awarded to J. S. & W. S. Kuhn, In«., of Pittsburgh at par.
SUPERIOR.
Douglas County, Wis.—BONDS TO BE OFFERED
SHORTLY.—The $73,000 4(4% 20-yr. municipal bonds (V. 96, p. 1857)
will be sold, we are advised, about Aug. 1.
Date July 1 1913. Int. J.&J.
TAYLOR COUNTY (P. O. Abilene), Tex.—BONDS NOT SOLD.—
made of the $150,000 5% 5-40-yr. (opt.) coup, tax free
court-house-construction bonds mentioned in V. 96, p. 1857.
Tnq best bid
No sale has been
received was at 95.
ROSEBORO SCHOOL DISTRICT (P. O.
Roseboro), Sampson
County, No. Caro.—BONDS NOT SOLD.—No sale was made on July 21
of the $10,000 5% bldg. bonds offered on that day (V. 96, p. 1856.).
OFFERING.—Addi¬
tional information is at hand relative to the offering on July 30 of the
$25,000 5H% sanitary-sewer bonds (V. 97, p. 133).
Proposals for these
bonds will be received until 12 m. on that day by G. Holmes, City Aud.
Auth. Sec. 3939, Gen. Code.
Denom. $500.
Date July 20 1913;
Int.
J. & J.
Due $1,000 yearly on March 1 from 1915 to 1939 incl.
Certified
check for 2% of bonds bid for, payable to City Treasurer, required.
Bonds
to be delivered and paid for within 10 days from time of award.
Purchaser
to pay
County,
Ohio.—BOND
TEXAS.—BOND SALE.—At a meeting of the State Board of
July 10 $50,000 5% State penitentiary bonds were purchased
investment for the permanent school fund<
on
69) were awarded to the Fletcher-American Nat. Bank of Indianapolis at
and int.
There were no other bidders.
CITY SCHOOL DISTRICT (P. O. Salt Lake City),
Salt Lake County, Utah.^-BOJVDS A WARDED IN PART.—Of the two
issues of 4(4 % 20-yr. gold coupon bonds offered on July 14 (Y. 97, p.133),
the $155,000 refunding issue was awarded to R. M. Grant & Co. of N.Y.,
at 92.57aod int., a basis of about 5.10%.
Bids1 were also received by
E. H. Rollins & Sons, A. B. Leach & Co. and N. W. Halsey & Co.
p.
par
at popular sub¬
J.
TROY, Rensselaer County, N. Y.—CERTIFICATE SALE.—On
July 22 the $100,000 5% certificates of indebtedness due Oct. 16 1913
(V. 97, p. 194) were awarded to the Troy Savs. Bank, Troy, at 100.01219
TUSCARAWAS
BOND SALE.—On
were
were:
Breed, Elliott &
SALE.—
awarded
OF BOND , ELECTION.—In the
stated that this city would vote on
DISTRICT, San Mateo County, Cal.—
received on June 16 for the $25,000
that day (Y. 96, p. 1721).
SCOTIA, Schenectady County, N, Y.—BONDS NOT SOLD.—No
bids were received on July 21 for the $8,000 coup, sewer bonds offered on
11 a.
(P. O. Bellmore), Parke County, Ind.—WAR¬
OFFERING.—Proposals will be received until 10 a. m. July 28, It is
stated, by W. R. Sewardf, Twp. Trustee, for $3,600 warrants.
UPPER
of whose opinion will be fur¬
SHELBY COUNTY (P. O. Sidney). Ohio — BOND SALE.—On July 19
$13,500 5% ditch-impt. bonds (V. 97, p. 133) were awarded to
Piqua Nat. Bank, Piqua, at par and Int.
There were no other bidders.
SIBLEY, Osceola County, Iowa.—BONDS VOTED AND SOLD.—
question of issuing $14,000 sewer-system bonds carried, it is stated,
at an election held July 8. by a vote of 465 to 73.
The bonds had already
been sold, subject to this election, to Geo. M., Bechtel & Co. of Davenport.
The
Merrick County,
Neb.—BOIVD OFFERING .—Pro¬
posals will be received until 12 m. Aug. 4 by D. F. Davis, Vil. Clerk, for
$16,000
5%
water-works and electric-light bonds.
Denom. $1,000.
Int. ann. on June 1.
Bonds are optional after 5 years.
Cert, check for
2% of bid, payable to J. W. Jackman, Vil. Treas., required.
SOMERSET
SCHOOL DISTRICT
(P. O. Somerset), Somerset
County, Pa.—BOND OFFERING.—According to reports, proposals will
be received until 6 p. m. Aug. 1 by P. Miller, District Secretary, for $20,000
5% school bonds.
Int. semi-annual. Certified check for 5% rqeuired.
These bonds were offered without success on July 19 (V. 97, p. 134).,.
SOUR LAKE INDEPENDENT SCHOOL DISTRICT, Tex.—BOJVD
SALEi—On July 10 the State School Fund purchased at par and int. $2,000
May 1.
DISTRICT
(P.
O.
South Omaha).
Douglas County, Neb.—BOND OFFERING.—Proposals will be received
until 8 p. m. Aug. 4, it is stated, by J. P. Sullivan, Sec., for $60,000 5%
20-yr. coup, refunding bonds.
Auth, Sec. 8441, Cobbey's Annotated
Statutes, 1913.
Denom. $1,000.
Int. J. & D. at office of fiscal agency of
State of Neb. in N. Y..
Cert, check for $500, payable to "School Dis¬
trict," required.
A similar issue of bonds was offered on July 7 (V. 97,
p. 69).
Bonded debt July 1 1913, $160,000; floating debt, $60,000; assess,
val., $5,000,000.
'
SPRINGFIELD, Sangamon County, 111 .—DESCRIPTION OF BONDS
—We are advised that the $45,000 coup, judgment bonds authorized by
vote of 2,838 to 1,895 at the election held July 15 (V. 97, p. 194) bear in¬
terest at the rate of 5% and are in the denomination of $1,000Date
"day of delivery."
Int. semi-ann. at Continental & Commercial Nat.
Bank, Chicago.
Due $4,000 yrly., beginning 4 yrs. after date and $5,000
.
that the above bonds were sold to R. O. O.
July 21 at par.
.
'
SPRINGFIELD TOWNSHIP (P. O. Petersburg), Mahoning County.
Ohio.—BONDS NOT SOLD.—No sale was made on July 18 of the $60,000
5% road-impt. bonds offered on that day (V. 96, p. 1856).
SPRINGVILLE, Erie County, N. Y.—BONDS NOT SOLD.—No sale
was made of the $21,000 6 1-6-year (average) highway improvement bonds
at not exceeding 5% interest, offered on May 20 (V. 96, p. 1379).
BOND SALE.—Reports state
Matheny & Co. of Springfield on
'
SPUR, Dickens County, Tex.—BIDS REJECTED—BOND OFFER¬
ING.—All bids received on July 15 for the $25,000 5% 10-40-yr. (opt.)
water bonds offered on that day (V. 97, p. 134) were rejected.
The City
Treas., O. Jackson, advises us that proposals will be received until July 28
for the above bonds.
STARKE COUNTY (P. O.
There were ho other bidders,
int.
Norfolk
yrs.
Knox), Ind.—BOND SALE.—The $7,000
26 (V. 96, p. 1440) were awarded to
4(4% gravel-road bonds offered May
the Evansville Securities Co.
STARKE SCHOOL DISTRICT (P. O. Starke).
Fla.—BOND OFFERING.—Proposals will be received
it is stated, by T. D. Gunter, Chairman of Board of
the $30,000 6% 10-year building bonds voted July 5
4
TOWNSHIP
VANDERBURG COUNTY (P. O. Evansville), Ind.—BOND OFFER¬
INGS.—Proposals will be received until 10 a.m. Aug.11 by C. Lauenstein,
Co. Treas..for $14,400 4(4 % tax-free Little Cyntbiana road-impt. bonds.
Denom. $720.
Int. M. & N.
Due $720 each six months from May 1 1914
to Nov. 1 1923 incl.
*
Proposals will be received until 10 a. m.
Bradford County,
until 12 m. Aug. 11,
School Trustees, for
(V. 97, p. 194).
of Steubenville at par.
STRAWN INDEPENDENT SCHOOL DISTRICT
Palo Pinto County, Tex.—BOND OFFERING.—The
of Austin, agent for the district, offers at private sale the
(P. O. Strawn),
Texas Trust Co.
$16,000 5% bldg.
(V. 97, p. 70).
Denom. $400.
Date July 1,1913.
Int. semi-ann. in Austin or N. Y.
Due part yrly. Bonded debt July 19
1913, $19,000.
Assess, valuation, $810,000.
SULLIVAN TOWNSHIP,. Laurens
County, So. Caro.—BONDS
VOTED.—According to reports, this township recently voted $4,00(1 build¬
ing bonds.
Aug. 15 by C. Lauenstein, Co.
Treas., for.$8,200 4(4% Barker Ave. tax-free road-impt.
$410.
Int. M. & N.
Due $410 each six months from
Nov. 15 1923 incl.
VERNON SCHOOL DISTRICT
Tex.—BONDS VOTED.—By a vote
bonds. Denom
May 15 1914 to
(P. O. Vernon), Wilbarger County,
of 142 to 45, the question of issuing the
$16,000 school bonds (V. 96, p. 1858)
held July 15.
'
carried, it is reported, at the election
WALLACE SCHOOL DISTRICT (P.
WARWOOD, Ohio County, W.
Coun¬
received until 7 p. m.
bldg. bonds.
O. Wallace), Shoshone
ty, Idaho.—BOND OFFERING.—Proposals will be
Aug. 2. it is stated, by the Dist. Clerk, for $35,000
Va.—BONDS VOTED.—The proposi¬
carries„it is state.'',
tion to issue $4,000 North Main St. improvement bonds
at the election held July 21 by a vote of 119 to 8*
Washington), Pa.—BOND SALE■
WASHINGTON COUNTY (P. O.
—The
ifor
bridge bonds offered on July 21 (VV 97, p. 195() were
to the Mellon Nat. Bank of Pittsburgh at 100.05
$100,000
it is stated,
awarded
4(4s.
''
...
Blackhawk
WATERLOO;
Iowa.—BONDS
County,
favorable vote was cast at the election
held July 14 on. the
Issue $28,860 bonds.
.
VOTED.—A
proposition to
•
j
(P* O. Waverly), Coffey County,
to reports, this district, recently
exceeding $18,000 bldg. bonds,,
WAVERLY SCHOOL DISTRICT
Kan.—BONDS
VOTED.—According
voted
to issue not
WAYNE
COUNTY? (P.
O.
May 26 the three issues of 5(4%
Wooster), Ohio.—BOND SALE.—On
ditch bonds, aggregating $4,890 (V, 96,
Bank of Wooster at par.
(P. O., West Point), Tippecanoe
SALE.—On July 9 the $13,000 4(4% bldg, bonds
1320) were awarded to the Citizens' Nat.
p.
WAYNE
TOWNSHIP
SCHOOL
County, Ind.—BOND
were
awarded to E. O'Gara at par and int.
There were no other bidders.,
WELCH, McDowell County, W. Va.—BOND OFFERING.—Further
are at hand relative to the offering on July 28 of the $80,000 6%
gold coup, paving and sewer bonds (V. 97, p. 195).
Proposals for these
bonds will be received until 8 p. m. on that day by G. M . Kyle, Town Re¬
corder.
Denom. $100 and multiples.
Int. ann, at Welch.< Due not later
than 10 yrs., subject to call one-tenth yrly.
No deposit required.; Bonded
debt July 1 1913, $21,000;.-floating debt, $6,519 81; assess, vai. 1912,
details
$2,299,246.
WESTFIELD,. Union County, N.
J.—PRICE PAID FOR BONDS—
The price paid for the $30,000 5% gold coup,
bonds awarded on June 2 to the People's Nat.
sewer,
sidewalk and road
Bank of Westfield (V.97,
100 286 + and int. and not 102.866 + and int. as first reported.
WEST
LIBERTY, Logan County, Ohio .—BOND OFFERING.—
According to newspaper reports, proposals will be received until 12 m.
Aug. 5 by I. Kirkwood, Village Clerk, for $25,500 5(4% 6 2-3-year ((a v.)
street-improvement bonds.
Certified check for 5% required.
195)
p.
was
WEST NEW YORK (P. O. Station 3,
J.—BOND SALE.—We are advised
N.
May 20 (V. 96, p. 1441)
Commissioners of West New York.
fered
STEUBEN VILLE SCHOOL DISTRICT (P. O. Steubenville), Jef¬
County, Ohio.—BOND SALE.—Reports state that an issue of
$25,000 6% 25-yr. school bonds was awarded to the People's Nat. Bank
SALE.—
SCHOOL DISTRICT (P.- O. Derwent),
Ohio.—BOND OFFERING,—It is reported that pro¬
posals will be received until 12 m. Aug. 18 by P. Allen, Twp. Clerk, for
$15 000 5% 15-year building bonds.
Cert, check for 2% required.
VAN BUREN TOWNSHIP (P. O. Findlay), Hancock County, Ohio.
—BONDS VOTED.—By a vote of 73 to 71, the question of issuing $1,700
school-building bonds carried, it is reported, at the election held July 8.
VALLEY
on
Weehawken), Hudson County,
that the $26,000 street bonds of¬
have been sold to the Sinking Fund
(P. O. Weston), Platte County, Mo.
of 110 to37,the question of issuing $2,000
bonds carried, it is stated, at the election
WESTON SCHOOL DISTRICT
—BONDS VOTED.—By a vote
heating-plant-construction
held July 8.
ferson
bonds recently voted
Ohio.—BOND
Conty,
Wyandot
p. 1857) were
100.102+ and
.the
15
SANDUSKY,
On July 18 the $16,000 5% Eighth St.-impt. bonds (V. 96,
awarded to the First Nat. Bank of ;Upper Sandusky at
until 8
for' $15,000
nished to purchaser.
in
Aug. 4.
m,
Guernsey County,
approved by Ropes, Gray Sc Gorham, a copy
'
received for the $7,000
New bids are asked until
UNION TOWNSHIP
will be received
5% 10-20-yr. (opt.) bonds dated
SOUTH OMAHA SCHOOL
Cal.—BONDS
Santa Clara County,
(V. 96, p. 1722).
RANT
193).
IP SILVER CREEK,
<•
SOLD—NEW OFFERING—No bids were
school bonds offered on July 7
County, Mass.—BOND OFFERING.—Proposals
p. m. to-day (July 26) by G. A. Dennett, Town
4(4% coupon tax-free water bonds.
Denom.
$1,000. Date Aug. 1 1913.
Int. F. & A. at Old Colony Trust Co., Boston.
Due $1,000 yearly on Aug. 1 from 1914 to 1928, incl.
These bonds will be
certified as to genuineness by the above trust company and their legality
SHARON,
"Chronicle."
UNION SCHOOL DISTRICT,
NOT
SCHOOL
5% bldg. bonds offered on
Treasurer,
last week's
UHRICHSVILLE, Tuscarawas County. Ohio.—BOND OFFERING.—
Proposals will be received until 12 m. Aug. 2 by H. O. Snyder* Vil. Clerk,
for $5,000 5% coimon taxable fire-engine purchase bonds.
Auth., Sec.
3939 Gen. Coae.
Denom. $500.
Date July 1 1913.
Int. J. & J. at office
of Vil. Treas.
Due $500 yearly.
Proposals will be received until 12 m. Aug. 16 by H. O. Snyder, Vil. Clerk,
for $1,400 Deersville Ave. sewer and $1,400 Tenth St. paving 5% coup,
bonds.
Auth. Sees. 3916 to 3918 incl., Gen. Code.
Denom. $200. Date
Aug. 1 1913.
Int. F.&A. at office of Vil. Treas.
Due $200 yrly. on Aug. 1
from 1914 to 1920 incl.
Cert, check for $100, payable to Vil. Treas., re¬
quired.
Bonds to be delivered and paid for within 10 days from time of
award.
Purchaser to pay accrued interest.
BONDS NOT SOLD.—No bids were
that day (V. 97. p.
was
Pa., in
County,
July 1 the $221,000 5%
June 25 (V. 96, p. 1788),
MATEO
item
This
railway system bonds. Since
fixed for Aug. 26.
SANGAMON AND DRUMMER DRAINGAE DISTRICT (P.
O.
Gibson City), Ford County. 111.—BONDS NOT SOLD.—The Secretary
advises us that no sale has yet been made of the $24,000 ditch bonds offered
SAN
Harrison,Cin$60,672 IProv. S. B. & Tr. Co., Cin__$60,282
Tol._ 60,3211Tillotson & Wolcott Co.,Clev 60,226
inadvertently reported under the head of Tuscarawas
Spitzer, Rorick & Co.,
the question of issuing $3,500,000 municipal
that time the date for this election has been
on
Manufacturers' Nat. Bank of Troy bid par.
COUNTY (P. O. New Philadelphia). Ohio.—
July 14 the $60,000 6% bridge bonds (V. 96,p. 1789)
awarded to Weil, Roth & Co. of Cincinnati at 101.26.
Other bidders
The
and int.
(opt.) impt. dist. No. 4 bonds registered by the State Comp.
on June 27 (V. 97, p. 69) were awarded to the San Antonio Sinking Fund
at par and int.
Denom. $1,000.
Date Apr. 1 1913. Int. A. & O.
BONDS VOTED.—On July 18 the question of issuing $3,345,000 publicimpt. bonds carried, it is reported, by a vote of 4,080 to 456.
SAN ANTONIO SCHOOL DISTRICT (P. O. San Antonio). Bexar
County, Tex.—BONDS VOTED.—The question of issuing the $300,000
5% 20-40-year (opt.) school-bldg. and impt. bonds (V. 97, p. 69) carried
at the election held July 18 by a vote of 1,916 to 325.
SAN FRANCISCO,
CaL—DATE
"Chronicle ' of May 24, page 1515, we
SALE.—The City Clerk advises us that the
TOPEKA, Kan.—BOND
10-40-yr.
■»
.
city has disposed of $200,000 4(4% serial paving bonds
scription.
Denom. $500.
Date July 1 1913* Int. J. &
SALT LAKE
ANTONIO, Tex.—BOND SALE.—On
"
TOLEDO, Ohio.—BOND OFFERING.—Proposals will be received until
7:30 p. m. Aug. 20 by J. J. Lynch, City Aud., for $200,000 4(4% coup,
fire-dept.-impt. bonds.
Denom. $1,000.
Date Dec. 1 1912. Int. J. & D.
at office of u. S. Mtge. & Tr. Co., N. Y. C.
Due Dec. 1 1928. Cert..
check on a Toledo nat. bank for 5% of bonds, payable to City Aud., re¬
quired.
These bonds were offered without success as 4s on Mar, 19
(V. 96, p. 893).
' ' .
,
'
accrued interest.
SAN
Education
at par and
int. as an
SALEM SCHOOL TOWNSHIP (P. O. Francesville), Pulaski County,
Ind.—BOND SALE.—On July 15 the $18,000 4(4% school bonds (V. 97.
8AULT STE. MARIE, Chippewa County, Mich.—BOND
We are advised that an issue or $14,300 5% paving bonds was
to Hoehler & Cummings of Toledo.
until Aug. 11 by R. Hays, Mayor,
ports state that proposals will be received
for $15,000 6% 20-year sewer bonds. 4
Bond & Goodwin, N.
Columbiana
Tallahatchie County, Miss.—BOND OFFERING.—Re¬
SUMNIBR,
Parkinson & Burr, N.
SALEM,
255
CHRONICLE
SCHOOL DISTRICT NO. 138, Wash.—
2-5-yr. (opt.) bldg. bonds offered on May 27
awarded to the Spokane & Eastern Tr. Co., Spokane,
COUNTY
WHITMAN
BOND SALE.—The $1,500
(V. 96, p. 1441) were
at par for 6s.
WILDWOOD,
Treas.
County, N. J.—BOND SALE.—The City
has disposed of $17,000 5 % 20-yr. fireprivate sale. Denom. $500. Date July 1 1913.
Cape May
advises us that this city
apparatus bonds
Int. J. & J.
at
WILFRED SCHOOL
has awarded,
at
100.375.
DISTRICT, Cal.—BOND SALE.—This district
it is stated, $2,000 bonds to the
.
National Bank of Santa Rosa
"*•
256
THE
CHRONICLE
[Vol.
xcvii.
WILLOW
•
GK07K INDEPENDENT SCHOOL
DISTRICT, Tel.—
BOND SALE.—On July 10 $3,000
5% 10-40-yr. (opt.) bonds dated July 1
were sold to the State
School Fund at par and Int..
Canada,
its Provinces and Municipalities.
BELLEVILLE, Ont.—DEBENTURE SALE.—Reports state that the
Oddfellows' Relief Ass'n of Kingston has
purchased $23,417 15 5% 20installment debentures of this place at 91.15.
_
•V WILLOW GROVE SCHOOL DISTRICT
(P. O. Ventura), Ventura
County, Cal.—BOND SALE.—According to
sold
to the Fillmore State Bank of
Fillmore
$3,520 and Interest.
reports, this district recently
an issue of school bonds for
BERLIN, Ont .—DEBENTURE SALE.—The Mutual Life Ins. Co. of
Waterloo has purchased $112,968 84 6%
30-year debentures, being part of
$202,316 90 (7 issues) offered July 3.
WOBURN, Mass.—BOND
SALE.—On July 24 the following 4K% cou¬
pon bonds were awarded, it is
stated, to Merrill, Oldham & Co. of Boston
at
101.619:
;
J
$25,000 1-10-year (ser.) municipal loan No. 1 bonds.
Denom. $1,000
and $500.
Date July 1 1913.
20,000 1-20-year (ser.) water-loan Act of
1910 bonds.
Denom. $1,000.
k
BROADVIEW, Sask.—DEBENTURES
of the
Int. J. & J. at Second National
Bank, Boston.-
:
NOT SOLD.—No sale
$25,000 6% town-hall debentures offered
,
The highest offer submitted
made
was
July 12 (V. 96, p. 1790).
on
at 90.
was
CALGARY, Alta.—DEBENTURE SALE.—According
Stimson & Co. of Toronto
to reports, G. A.
recently awarded $103,000 4y£% 20-year
were
debentures.
*
YONKERS, Westchester County, N. Y.—BOND OFFERING.—Pro¬
posals will be received until 12 m. July 29
by J. Miller, City Compt., for
the following 5% reg. bonds,
aggregating $993,000.
$100,000 water bonds.
Due $5,000 yrly. on
Apr. 1 from 1914 to 1933 incl.
200,000 assessment bonds. Due part
yrly. on Apr. 1 from 1914 to 1923 incl.
400,000 revenue bonds.
Due $100,000 on July 1 1916 and $150 000 on
July 1 1917 and 1918.
180,000 school bonds. Due $9,000 yrly. on
Apr. 1 from 1914 to 1933 incl.
96.000 deficiency bonds. Due $12,000
yrly. on Apr. 1 from 1914 to 1921
"v
CAPUTH SCHOOL DISTRICT NO.
2928, Stink.—DEBENTURESALE.—The Western School Supply Co. of
Regina has been awarded an
issue of $2,000 Q34% bldg. debentures at
94Date June 9 1913. ' Int.
ann. in Dec.
Due in 10 ann. installments
beginning Dec. 8 1914.
CHESTER
(Rural Municipality)
No.
125,
Sask .—DEBENTURE
be received by J. B. Lipton, Secy .-Treas.
(P. O. Kaiser), it is stated, for $4,000 debentures.
OFFERING.—Proposals will
.
V"
■
incl.
12,000
"
•
fire-bureau-equip, bonds.
to
Due $2,400 yrly.
1918 incl.
on
Apr. 1 from 1914
Date April 1 1913 except the $400,000 revenue
issue, which is dated July 1
1913.
Int. A. & O at office of City Treas. in N. Y.
exchange.
Cert, check
for 2% of bonds bid for,
payable to City Compt., required.
Bonds will be
ready for delivery Aug. 7.
The legality of this issue will be approved by
Hawkins, Delafield & Longfellow of N. Y. City and a
duplicate original
of their opinion will be furnished to
each successful bidder.
COQUITLAM, B. C.—DESCRIPTION
OF DEBENTURES.—The
City
city-hall, $35,000 school and $700,000
recently voted (V. 96, p. 1651) bear interest at the rate
payable semi-ann.
Denom. $1,000.
Date June 1 1913.
Due
Clerk advises
that the $25,000
us
water debentures
of
5%,
in 30 years.
•-•••
"
ESTEVAN, Sask.—-DEBENTURE SALE.—According
town has sold $135,000 debentures.
'
'
•
'
*
to reports,
this
•
.
..
DEBENTURES DEFEATED.—The question of
issuing the $8,000eleo*
tric-light-system constr. debentures (V. 97, p. 135) was defeated at
the
election held July 15.
'
■
1
YORKTOWN,
DeWitt
County.
Tex.—BONDS PROPOSED.—We
advised that this town is
contemplating the issuance of $8,000 city-hall
are
bonds.
i
YORK TOWNSHIP SCHOOL
of Nelsonville.
'
YOT7NGSTOWN, Mahoning County, Ohio.—BOND
OFFERING.—
Proposals will be received until 2 p. m. Aug. 14 by D. J.
Jones, City Aud.,
following 5% coup, or reg. bonds:
$110,000 water-works bonds.
Due $10,000 yrly. on Oct. 1 from 1915 to
ments.
from
1,920
portion) bonds.
Due $1,000
1918 incl.
Ho|ue^St. paving bonds. Due $384 yrly.
1918
on
Oct.
on Oct. 1 from 1914
incl.
6,150 Fulton St. paving bonds.
Due $1,230 yrly.
1918 incl.
on
Oct. 1 from 1914
.
,
,
8,410 Ridge Ave. paving bonds.
Due $1,682 yrly. on Oct. 1 from 1914
to 1918 incl.
Date Aug. 18 1913.
.
.
Int. F. & A. at office of
Sinking Fund Trustees.
Cert, check for 2% of each block of bonds bid
for, payable to City Aud.,
required.
Bonds to be delivered and paid for not later than
Aug. 18.
NEW
of
FIVE
N. J.,
Acts
AUGUST 1ST, 1913, for
amendatory thereof
an
and
supplemental
>
bearing inter-
st at
the rate of 5%
annually
on
per annum, payable semi¬
the first days of June and December
Interest of said
of the
option of the
exchange at
New Jersey.
to principal
to both prin¬
money
United States of America, and at the
holder will be paid in New York
The First National Bank of Garfield,
Said bonds may be registered as
only or at the option of the holder as
cipal and Interest.
Proposals should be addressed to Frank V.
RomagUa, Borough Clerk, Garfield, New Jersey,
and should be marked upon the outer cover thereof
"Proposal for Water Bonds."
All
crued
bids must provide for the payment of ac¬
interest from June 1,
1913, the date of
said bonds,
must be
to
the date of delivery.
Each bid
accompanied by a certified check upon
incorporated bank or trust company to the
order of John Stewart, Collector, for 2% of the
par value of the bonds bid for; the check of the
successful bidder to be retained by the
Borough
on account of the purchase
an
The checks
price of said bonds.
of
unsuccessful bidders will be re¬
turned forthwith.
The bonds will be prepared and certified by the
United States Mortgage & Trust Company, and
their
validity approved by Messrs. Hawkins,
Delafield & Longfellow, attorneys, of New York
City, whose opinion will be furnished to the suc¬
cessful bidder.
She right to8th,1913. and all bids Is reserved,
ated July reject any
frRANK
V.
British
ROMAGLIA,
Borough Clerk.
lutions
of
Securities
HULL,
Co.
MEDIA, PA.,
with
a
the
principal."
privilege
,
of
registration
'
•
.
•
of
Sealed bids will be received for all or
any part
at these bonds till AUGUST
1, 1913, addressed to
JOS. E. QUINBY,
Prest. of School Board,
Media, Pa.
.
BOND CALL
N. Y.,
NEW MEXICO TERRITORIAL BONDS
Notice is hereby given that the
the
Common
Council
of
the
City of
meeting held June 30,
bonds to be sold at not less than
par and accrued
interest, £nd bear interest at a rate not
exceeding
4M% per annum, payable semi-annually.
Said
bonds shall be numbered 1 to
40 inclusive and
shall be issued in two series of
one
hundred
thousand ($100,000)
each, to be known as Series
A and B.
Series A shall include Nos. 1 to 20
inclusive, and shall be dated August 1, 1913; and
Series B shall be numbered from
21 to
40, In¬
clusive, and shall be dated September
1, 1913.
The interest on Series A shall
be payable on the
first days of
February and August of each year
at the office of the
City Chamberlain in the City
of Elmira; and the interest
on
Series B shall be
payable on the first days of March and
September
In each year at the office of the
City Chamberlain
in the City of Elmira.
Said bonds shall be issued
for
Five Thousand
shall mature in the
Dollars
($5,000) each, and
following manner and times,
Nos. 1 and 2, 3 and
4, 5 and 6, 7 and 8,
9 and 10, 11 and 12, 13 and
14, 15 and 16, 17 and
18, 19 and 20, to mature August 1, in the
years
viz.;
1914, 1915, 1916, 1917, 1918, 1919, 1920,
1921,
1922, 1923, respectively, and Nos. 21 and
22,
23 and 24, 25, and
26, 27 and 28, to mature
September 1, in the years 1924, 1925, 1927 and
1928, respectively; Nos. 29, 30 and 31 to mature
September 1, 1929; Nos. 32, 33, 34 and 35 to
mature September
1, J931; Nos. 36, 37, 38, 39
and 40 to mature
September 1, 1932.
Bids will
be received
separately for each series, or any part
thereof, viz.: Series A, $100,000; Series B $100,000,
as
hereinbefore set forth, reserving the right to
reject any or all bids on said bonds or on either
series of said bonds.
Bids must be
accompanied
by a certified check of 2% of the amount or bid.
The assessed valuation of the real
property
of Elmira is
$22,007,722.
indebtedness Is $1,009,000.
Dated, Elmira, N. Y., July 22, 1913.
The bonded
H.
OF
are
bonds
now
Mexico,
of
payable
successor
Mexico:
An issue of $25,000.00 of bonds
authorized
by Section 1 of Chapter 76 of the Laws of New
Mexico of the
year 1901, for the purpose of erect¬
ing additional buildings for the Territorial Insane
Asylum located at Las Vegas, New Mexico, dated
July 1st
1901, bearing interest at the rate of
five per centum, payable at the Western
National
Bank, at the City of New York. In the State of
New York, and payable at the
option of the Terri¬
tory at any time after
(ten years from the date of
their issue.
.
Notice is hereby further given of the intention
of the Board of Loan Commissioners of the
State
of New Mexico to redeem all of the
above de¬
scribed bonds
on or before the 1st
day of August,
the place of payment of said issue of
and that thereafter all Interest on such
indebtedness shall cease, this notice
being given
1913,
at
bonds,
pursuant to authority contained in Section 20 of
Chapter 16 of the Laws of New Mexico of the year
1912, all of said bonds by said section being made
subject to payment at the option of the State of
New Mexico, as the successor of the
Territory of
New Mexico.
W.G.SARGENT,
Secretary of the Board of Loan Commissioners
of the State of New Mexico.
July 14th, 1913.
BLODGET
WESTCHESTER COUNTY, N. Y.
Sidewalk Bonds.
Sept. 1, 1918=1927, inclusive.
Road-Improvement Bonds.
Due Sept. 1, 1923=1932. inclusive.
Denomination, $1,000.
Date Sept. 1, 1913.
Interest March 1 and Sept. 1.
Present total debt
"
$77,000
Assessed valuation, 1912
13,602,153
All bids must be in the hands of
John H.
McArdle, Supervisor, by 8 o'clock P. M-» AUGGUST 4TH, 1913.
Right is reserved to reject
any and all bids.
&
CO.
BONDS
60
30
STATE
PINE
STREET. BOSTON
STREET, NEW YORK
STATE, CITY& RAILROAD BONDS
STACY
GARDNER,
City Clerk.
MAMARONECK,
follcwlng-de
the Territory of New Mexico
at the option of the State of
of the said Territory of New
&
BRAUN
Investment Bonds
Toledo
Cincinnat
Due
half per cent, payable halfyearly, clear of taxes.
The
bonds
are
dated
July 1, 1913, and are for $500 each, with coupons
attached,
Montreal.
VOTED.—A by-law providing for the
debentures carried, reports state, at a recent elec¬
JORGEMAN SCHOOL DISTRICT NO.
537, Sask.—DEBENTURE
SALE.—The Western School
Supply Co. of Regina was recently awarded
$1,500 6%% debentures at 100.466+.
Date Apr. 1 1913,
Int. ann. in
April.
Due Apr. 1 1923.
$10,000 AH%
BONDS
The School District of the
Borough of Media,
Pa., offers for sale $75,000 in bonds of the School
District, payable July 1, 1942, with interest at
the rate of four and
of
One.—DEBENTURES
Elmira, N. Y.f adopted at a
1913, in the aggregate sum
of not
exceeding
$200,000 to be known as Pavement Bonds. Said
TOWN
SCHOOL
advised that
issuance of $20,500
5%
tion.
$75,000
OF
,
Que.—DEBENTURES
no sale has been made of the
$200,000
20-yr. bldg. debentures offered on May 26 (V. 96,
p. 1724).
News¬
paper reports stated that these debentures were awarded to the North
undersigned at the
City Clerk's Office, Elmira, New York,
up to
AUGUST 4, 1913, at 8 o'clock P.
M., for, bonds
of the City of
Elmira, N. Y., to be issued pur¬
suant to Chap. 77 of the Laws
of 1913 and reso¬
OTIS
BOROUGH
COMMISSION,
scribed
Said bonds will be of the denomination of
$1,000
each, numbered from 1 to 85, inclusive, dated
June 1, 1913, payable June 1, 1943,
in each year.
Both principal and
bonds will be payable in lawful
•
5%
4^% BONDS
Boroughs
(Revision 1898)/' approved April 24, 1897, and
the
install¬
May 28.
on
-
SCHOOL
are
Bids will be received
by the
issue of $85,000 Coupon Water Bonds to be issued
under an Act of the Legislature of New
Jersey,
entitled "A General Act Relating to
thereto.
5s
Municipality No. 184), Sask.—DEBENTURE
state that S. Johnston, Secy .-Treas., will entertain
debentures.
HOCHELAGA
CITY OF ELMIRA,
PER CENT
Sealed poposals will be received by the Council
of the Borough of Garfield, New Jersey, until
p. m.
(Rural
$200,000
Garfield,
(6)
success as
•
.
BOND CALL.
THIRTY-YEAR WATER BONDS
Eight o'clock
offered without
LOANS,
$85,000
Borough
were
'
,
1
Due $285 yrly. on Oct. 1 from 1914 to
'
v
GRAYSON
NOT SOLD.—We
1,425 Wick Ave. impt. bonds.
to
yrly.
'
OFFERING.—Reports
offers for $4,000
-
(city's
1914 to
'
ann.
GODERICH, Ont.—DEBENTURES AWARDED IN PART.—We are
that arrangements are
being made to sell to the Sinking Fund
$25,000 of the $35,000 5%
electric-power-plant-constr. debentures offered
on May 1.
Due in 30 annual installments.
•
:
..
1925 incl/
'5,000 st.-impt.
'
Due in 30
advised
for the
.
These debentures
(V. 97, p. 195.)'
received
Mcintosh, Chairman Finance Committee,
electric-light-plant debentures.
■
DISTRICT (P. O. Athens), Athens
County, Ohio.—BOND SALE.—Reports state that the $25,000
6% bldg.
bonds voted
May 13 (V. 96, p. 1320) have been sold to the People's Bank
Co.
FOREST, Ont.—DEBENTURE OFFERING.—Proposals will be
until 6 p. m. July 31 by G. E.
for $20,000 5H%
$10,000
5%
MUNICIPAL AND RAILROAD
BONDS
LIST ON
APPLICATION
SEASONGOOD &
MAYER
JOHN II. McARDLE, Supervisor.,
12 East Boston Post Road,
Ing&lls Building
Mamaroneck, N.
CINCINNATI
*
Y.
.
ROSETOWN,
BASK.—DEBENTURE OFFERING.—Proposals will
received until Aug. 20 by A. Wilson, Town Clerk, for three separate 7%
debentures of $7,500, $4,000 and $2,000. Int. sami-ann. Purchaser
to pay all printing and banking expenses.
award was made
proposals for whichwere
LACHINE, Que .—DEBENTURES NOT SOLD.—No
July 17 of the $100,000 5 % 40-year debentures
opened on that day.
,
on
LLOYDMINSTEB, Sask.—DEBENTURES NOT
on July 14 for the $5,000 6% debentures
received
be
20-yr.
LOST RIVER
first reported) 7% 15-installment deben¬
purchased by Brent, Noxon & Co. of Toronto
LUNENBURG, N.
Clerk and
4)4 % 20-year
been sold to
S.—DEBENTURE SALE.—The Town
advises us, under date of July 19^ that the $15,000
debentures offered on May 15 (V. 96, p. 1381) have
the Maritime Trust Corporation of Halifax.
Treasurer
sewerage
NEW
VOTED.—A by-law providing for the
hydro-electric purposes was passed by the bur¬
TORONTO, Ont.—LOAN
expenditure of $7,000 for
reports state,
gesses,
\
,
1438. Sask.—
DISTRICT NO.
BATTLEFORD SCHOOL
NORTH
OFFERING.—Proposals will be received until Aug. 5 by
H. B. Thomas, Secy.-Treas., for $60,000 6% 30-yr. school-bldg. debentures.
NORTH BAY, Ont.—DEBENTURE OFFERING.—Proposals wiU be
received until 12 m. Aug. 4 by M. W. Flannery, Town Treas., for $80,000
30-yr. st.-impt., $60,500 20-yr., $21,000 20-yr., $25,000 30-yr. and $25,000
30-yr. local impts., $60,000 30-yr. high-school and $50,000 30-yr. public
DEBENTURE
OAKVILLE, Ont.—DEBENTURES
cil recently passed a by-law providing
highway-impt., it is reported.
ports state that the question of
sewerage-system and $20,000 electric-power
carried at the election held July 10.
OFFERING.—Proposals will
Town Clerk, for $25,000
to be granted as a loan to a
electric-light and power deben¬
V
PENSE (Rural Municipality No. 160), Sask.—DEBENTURE OFFERING.—Bids will be received, it is stated, for $15,000 debentures.
P. F.
be
PORT
AUTHORIZED.—Reports
30-year city-hall-site-
Ont.—LOAN
PRESTON,
at a recent
the Preston
election.
the 15 and 30-yr.
REDBURN (Rural
Municipality No.
OFFERING.—E. E. Johnston, Secy.-Treas.
proposals for $12,000
debentures, it is
debentures.
WINSLOW RURAL
MUNICIPALITY NO. 319,
0
Stale.—DEBENTURE
OFFERING.—Proposals will be received until Aug. 2 by R. H. Perdval,
Secy.
(P. O. Druid), for $5,000 7% municipal improvement debentures.
Due in 10 annual installments.
loan
VOTED.—The by-law providing for a
Chair Co. (V. 96, p.
OFFERING.—Proposals will be *e-
14 by T. A. Dinsley, Secy.-Treas., for $5,800 electrio$8,500 water-works 30-yr., $950 fire-hall, $8,000 skating and
curling-rink, $2,150 fire-apparatus and $1,100 roads 15-yr. 5)4% deben¬
tures.
Due in annual installments of principal and int.
Separate bids tor
construction debentures.
of $15,000 to
Sask.—DEBENTURE
WILKIE.
$6,060
election held July It
light and
MOODY, B. C.—DEBENTURES
the Council has decided to issue $35,000
purchase and
Auth. vote of 23 to 6 at the
ceived until Aug.
secy "Trscis.
QISS
will
WHITEWOOD,
Sask.—DEBENTURE OFFERING.—Proposals
received until 6 p. m. Aug. 15 by L. Robertson, Sec.-Treas., for
6% 30-year debentures.
(V. 96, p. 1860).
20-year and $25,000 30-year 5% debentures,
smelter industry, and $5,500 5% 15-year
tures.
Due in annual installments.
state that
VOTED.—Newspaper re¬
issuing the $6,000 natural gas, $20,(KK>
debentures (V. 97, p. 73)
Alta.—DEBENTURES
WETASKIWIN,
AUTHORIZED.—'The Town Coun¬
for the expenditure of $25,000 for
SOUND, Ont.—DEBENTURE
until 12 m. Aug. 5 by E. E. Armstrong,
PARRY
be received
Secy.-Treas.
McTaggart is
installments.
Due in ann.
debentures.
school 5%
SOLD.—No sale has been made of
debentures offered on May 3
construction
Sask.—DEBENTURE SALE.—
(Rural Municipality),
I860) has been
(V. 96, p.
at 100.82.
tures
Ont.—DEBENTURES
the $4,000 5% bridge and pier
(V. 96, p. 1382).
ST. BONIFACE,
mil.—DEBENTURE OFFERING.—Proposals will
be received until 5 p. m. Aug. 4 by J. B. Cote, City Clerk, for $285,000
5%
local-impt. and water-works debentures.
Denom. $1,000. Date
Jan. 2 1913.
Int. J. & J. at Banque d'Hochelaga, St. Boniface, or Mont¬
real, Canadian Bank of Commerce, Toronto, or at Clydesdale Bank,Ltd.,
London.
Due in 30 annual installments.
SOURIS VALLEY (Rural Municipality No. 7). Sask.—DEBENTURE
OFFERING.—Proposals will be received for $10,000 debentures by R. C.
Beckett, Secy.-Treas. (P. O. Bromhead.)
TOMPKINS, Sask.—DEBENTURE OFFERING .—This village is offer¬
ing for sale $2,000 debentures, it is reported.
H. Chapman is Secy.-Treas.
VANGUARD, Sask.—DEBENTURE OFFERING.—H. F. Cooke. Secy.Treas., wHl receive tenders, it is stated, for a loan of $8,000.
WATERLOO, Ont.—LOAN VOTED.—According to reports, the bur¬
gesses recently passed a by-law providing for a loan of $10,000 to be granted
to Dantzer & Montag (V. 96, p. 1792).
WELLINGTON (Rural Municipality No. 97), Sask.—DEBENTURE
OFFERING.—The Council wiU borrow $5,000, according to reports.
O. B.
NOT
$5,000 (not $3,000 as
An issue of
(P. O. St. Onge),
TOWNSHIP
RUSSELL
SOLD.—No bids were
offered on that day.
1860).
(V. 96. p.
257
CHRONICLE
THE
1913.]
July 26
1725) carried, reports state,
Ont.—DEBENTURES VOTED.—Local papers state
5)4 % 30-year hydro-electric deben¬
WOODVILLE,
130), Sask.—DEBENTURE
(P. O. Rouleau), will receive
of issuing the $4,000
that the question
tures
held July 15.
carried at the election
(V. 97, p. 73)
stated.
MISCELLANEOUS.
NEW
LOANS.
OFFICE OF THE
INSURANCE COMPANY.
ATLANTIC MUTUAL
$22,000
Stamford, Conn.,
City of
IMPROVEMENT BONDS
PUBLIC
for the sale of $22,000 00 Pub¬
lic Improvement Bonds of the City of Stamford,
Connecticut, will be received by the City Treas¬
urer
at the Stamford National Bank until 12
o'clock noon, MONDAY, JULY 28 1913.
_
Said bonds bear interest at the rate of Five
Sealed proposals
payable semi-annually on
the first days of January and July, and mature
fifteen years from July 1st, 1913.
.
Principal and interest payable at the Merchants
Exchange National Bank, C.ity of New York.
No bid will be accepted for less than par and
Per Cent
per
annum,
following statement of its affairs on Ou
The Company's business has been confined to marine and inland transportation insurance.
Premiums on such risks from the 1st January, 1912, to the 31st December, 1912................$4,069,457 66
Premiums on
Company, submit the
of December, 1912.
Policies not marked off 1st
—
.-a
Premiums marked off
from January 1st,
1912, to December 31st,
investments of the Company received
Interest on Deposits in Banks and Trust Companies,
Rent received less Taxes and Expenses..a
Interest on the
paid during the year
Losses
.............. < 763.427 33
.......................$4,822,884 99
1912........................$4,966,834 06
January, 1912-.—.
Total Premiums..
during the year
etc
—.......
a
Less Salvages
_
.....—
Re-Insurances
Discount...
...
$302,088 79
42,787 34
130,987 28
475,863 41
$2,104,267 48
74
$197,204
644,016 02
196.79
all bids.
accompanied by a certi¬
check or bank draft for two per cent (2% of
par value of the bonds bid for, said checks
fied
reject any and
the
to be returned if bid is not accepted.
For further particulars address
WM. N. TRAVIS,
'
Stamford Nat'l Bank,
741,416 $6
""$1^362,840
accrued interest.
The right is reserved to
All proposals must be
City Treasurer.
Stamford, Con*.
$200,000
22d. 1913.
York, January
New
*
conformity with the Charter 31st
of the
The Trustees, in
of Premiums
Returns
Expenses, Including
$91,649 80
563,285 21
.....
officers' salaries and clerks'
compensation, stationery, advertise¬
.............—.....
ments, etc
93
holders
theL
Interest thereon
31st
will Be
Six per cent on the outstanding certificates of profits will be paid te the
representatives, on and after Tuesday the fourth of February next. .
the issue of 1907 will be redeemed and paid to the holders thereef, or
legal representatives, on and after Tuesday the fourth of February next, from which date all
will cease.
The certificates to be produced at the time of payment and canceled.
A dividend of Forty per cent Is declared on the earned premiums of the Company for the year ending
December, 1912, which are entitled to participate In dividend, lor which, upon application, certificates
Issued on and after Tuesday the sixth of May next,
'
.
■
< •
By order of the Board,
G. STANTON FLOYD-JONES, Secretary.
dividend of interest of
A
thereof, or their legal
The
outstanding certificates of
TRUSTEES.
Lackawanna County,
ROAD
IMPROVEMENT BONDS'
Sealed proposals
will be received by
the County
for the sale of Two
Thousand Dollars ($200,000 00) worth
of
Pa.,
Lackawanna
Hundred
of Lacka¬
Pennsylvania, 4)4% Road Im¬
provement Bonds, for the purpose of improvement
and repair of public roads in said County that are
already constructed, or in course of construction,
or that may be constructed under the provisions
of the Act of Assembly of the 26th day of June,
A. D. 1895, P. L. 336.
All bids to be accom¬
panied by a certified check of Ten Thousand
Dollars ($10,000 00), to be made payable to Lacka¬
wanna County.
Bids to be addressed to and in
wanna
County,
before
li:60 O'CLOCK NOON, AUGUST 6TH, 1913.
The right to reject any or all bids is reserved.
CHARLES P. SAVAGE.
Attest:
"
County Comptroller.
hands
of undersigned
or
on
•
RALPH COLLINS,
WM.
F.
KRAFT
ADOLF
LAWYER.
10S7-9 FIRST NATIONAL
BANK BLDG..
& Willaman
MUNICIPAL BONDS
Legal for Savings Banks,
Postal Savings and Trust
Funds.
SEND FOR LIST.
29 South La
Salle St.,
CHICAGO
siEWART, 4th Vice-President.
LIABILITIES.
ASSETS.
United States
Bonds
and State of New
York
-
$670,000 00
.......-..-2.—.............
York City and New York Trust
Companies and Bank Stocks........L
Stocks and Bonds of Railroads.....—..
New
1,777,900 00
2,716,537 00
282,620 00
Other Securities
In Banks and Trust
900,000 00
—
Streets
offices 4,299,426 04
(held under
provisions of Chapter 481,Laws of 1887)
75,000 00
Real Estate cor. Wall and William
and Exchange Place, containing
Real Estate en Staten Island
Receivable ....
in hands of European
ash
nay
losses
ary
Bankers to
under policies payable
foreign countries
Cash in Bank
Temporary Investments
In
—
—--—
(payable Janu-
592.766 69
615,30316
Estimated Losses and Losses
In process
of Adjustment
Unsettled
—
767,050 94
262,924 06
paid
Return
104,322 7$
110,025 10
203,735 66
Premiums Unpaid..
Reserve for Taxes
........
-
Premiums
Claims not Settled, including
Re-insurance
gation
etc
—
Compen-
82,698 00
*
Certificates of Proflts Ordered Redeemed,
Withheld for Unpaid Premiums......
Certificates of Profits
22,656 00
7,293,220 OO
Outstanding......
298,641 20
994,882 29
$11,020,590 67
$13,623,851 38
balance
$2,174,058
Unterminated Risks
Certificates of Profits and Interest Un¬
Premiums on
1913)400,875 00
Thus leaving a
Mosser
TURNURE.
GEORGE E.
JOHN H. JONES
CHICAGO, ILL.
Bolger,
LOUIS STERN.
WILLIAM A. STREET,
PAVENSTEDT,
BALANCE SHEET.
Bills
and Corporation Bonds
ROBINSON,
WILLIAM J. SCHIEFFELIN*
WILLIAM SLOANE,
A. A. RAVEN, President.
CORNELIUS ELDERT, Vice-President.
WALTER WOOD PARSONS. 2d Vice-President.
CHARLES E, FAY, 3d Vice-President.
f
Municipal
DOUGLAS
JAMES H. POST,
Premium Notes
Specializing in Examination of
DALLAS B. PRATT,
GEORGE W. QUINTARD;
ANTON A. RAVEN,
JOHN J. RIKER,
W. HARD,
THOMAS H. HUBBARD;
LEWIS CASS LEDYARD;
CHARLES D. LEVERICH;
GEORGE H. MACY,
NICHOLAS F. PALMER,
HENRY PARISH,
ANSON
CLEVELAND H. DODGE;
CORNELIUS ELDERT.
RICHARD H. EWART,
PHILIP A. S. FRANKLIN;
Special Deposits
Companies
Deputy County Comptroller.
CHARLES M.,PRATT;
HERBERT L. GRIGGS,
JOHN N. BEACH,
ERNEST O. BLISS,
VERNON H. BROWN.
WALDRON P. BROWN,
JOHN CLAFLIN
GEORGE C. CLARK,
of--------------—....—...$2,603,260 71
$40,804 90
day of December, 1912, amounted to
thjist ciuiuuuwu w
31st day of December^ 1912, juDpuntedto- - in companies authorized in New York, on the 31st day
Accrued Interest on Bonds on the 31st
riGDtS QUC JtLlU accrued on uuo
Rents due and OUUl uuu uu the utov u»jr vt i/uvuui uti ,
Re-insurance due or accrued,
26.696 90
of December,
257,330 00
47.650 39
of the Real Estate corner Wall and
above, at........
450,573 96
63,700 00
day of December, 1912, ex¬
,695,027 24
Un^xDi're^^inw^nce"premiums on the 81st"day of December, 1912, amounted toNote*
The Insurance
Department has estimated the value
Streets and Exchange Plats In ezcess of the Book Value given
property at Staten Island in excess of the Book Value, at.....
William
And the
and other Securities on the 31st
by
---
The Market Value of Stocks, Bonds
ceeded the Company's valuation
1
the basis of these Increased valuations the balance would be..............................$5,186,044 28
—
THE
CHRONICLE
[Vol.
Sttust ©ompante*
xcvii
.
gngitusKS.
CHARTERED 1883
Doited States Trust
Company of New York
45-47
Capital9
•
Surplus and Undivided Profits
-
v
THE J. G. WHITE COMPANIES
WALL STREET
-
-
ENGINEERS
$2,000,000 00
-
-
MANAGERS
FINANCIERS
$14,025,643 12
-
"
Company acts as Executor, Administrator, Guardian,
Trustee, Court
Depositary and In other recognized trust capacities.
49 Exchange
It allows interest at current
Place,
rates on
It
'
personal,
manages and invests money, securities and other
for estates, corporations and individuals.
EDWARD W. SHELDON. President
WILLIAM M.
KINGSLEY, Vice-President
WILFRED J.
WILLIAMSON PELL, Asst.
Secretary
CHARLES A.
property, real
NEW YORK
•
deposits.
holds,
or
Chicago.
San Francisco.'
London.
Manila, Para, Buenos Aires,
Santiago, Chin.
WORCESTER, Secretary
EDWARDS,
2d Asst. Secy
TRUSTEES
JOHN A, STEWART, Chairman of
the Board
WILLIAM ROCKEFELLER
LEWIS OA88 LEDYARD
WILLIAM M. KINGSLEY
ALEXANDER E. ORB
LYMAN J. GAGE
WILLIAM STEWART TOD
WILLIAM H. MAOY JR
PAYNE
WHITNEY
OGDEN
MILLS
WILLIAM D. SLOANS
EDWARD W. SHELDON
EGERTON L. WINTHROP
FRANK LYMAN
OHAUNCEY KEEP
JAMBS 8TILLMAN
CORNELIUS N. BLISS JR
GEORGE L. RIVES
HENRY W. do FOREST
JOHN CLAFLIN
ARTHUR OURTI88 JAMES
ROBERT I. GAMMELL
JOHN J. PHELPS
Alfred B. Foretell
Charles D. Roblsss
FORSTALL AND ROBISON
,
eonms
Investigations
and
Appraisals of Gas and
Properties for Owners or Financial
Electric
Institutions.
84 William St.
More and
people are finding it convenient to
keep their
Securities and other Valuables
uptown instead of downtown.
The Union
Trust
Company of New
C. G. YOUNG
York offers .unexcelled
Engineering and Construction
facilities at moderate
prices in the uptown vaults of the Union
Safe
NSW YORK orru
more
Plant, Method», Examinations
Deposit Company.
Public Utilities and bduitrials
REPORTS FOR FINANCING
At Fifth Avenue and
Sixtieth Street
they are very near the
"social centre" of New
York, and convenient for
most
who live uptown.
Inspection and patronage
B&nksrs Trust Bldg., New York
people
Alex. O. Humphreys
Alien 8. Millar
invited.
are
HUMPHREYS AMILLER.Inc.
ENGINEERS
Power—Light—Gas
188
BROADWAY,
-
NEW YORK
r
inK
CHICAGO
mining %nQtVLZtx%.
Capital and Surplus,
$15,000,000
H.
Pays Interest
Deals in
Tina Deposits, Current and
Reserve Accounts.
Investment Securities and
Foreign
on
Transacts
General
Trust
CORRESPONDENCE
v
Business.
A CO.
COAL AND MINERAL PROPERTIES
Exchange.
a
M. CHANCE
Mining Engine.™ and Qcolorlrt.
Examined,
Orexel Bldg
INVITED
Managed, Appraised
PHILADELPHIA. PA
.
JicJComutKttts.
■
PARK, POTTER
CERTIFIED PUBLIC
PITTSBURGH,
A CO.
ACCOUNTANTBt
New York, Chicago, Cincinnati aniT"
PA.
London, England.
8-26
AUDITORS
3%
on
is
FOW
FINANCIAL
INSTITU¬
TIONS, INDUSTRIAL AND
MINING COMPANIES.
RESERVE ACCOUNTS
investigations. Financial Statements,
paid by this bank
Correspondence
CAPITAL,
-
Periodical Audits and
Accounting
is incited
NOW READY
$6,000,000
Hand-Book of Securities
July 1913 Edition.
Acts
DESCRIPTION
as
Girard Trust
Company
Executor,
Trustee,
Administrator,
PHILADELPHIA
Guardian,
Receiver,
Registrar
To
Transfer. Agent.
Interest allowed
CAPITAL and SURPLUS,
$10,000,000
.
»
deposits.
a
series
of
years.
Single
Hand-Book
Brokers with
their
is
Issued
cards
outside cover (In
quantity)
to
lettered
$100
T6
Bankers
In
gilt
on
and
tba
at speolal rates
.
N
t
on
of
Copies
,
Subscribers of the Chronicle
The
and
DIVIDENDS
For
Price
Chartered 1836
PRICES
INCOME
E. B.
Morris, President.
I"
Commercial
&
Financial
Chronicle
Front, Pine and Depeyster Sts*
NEW
YORK
@FedFRASER